Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
NOTE 9 RELATED PARTY TRANSACTIONS
Executive chairman agreement
As part of an executive chairman agreement, a director provided services to the Company. This agreement was amended on April 1, 2015. Under the terms of this amendment, this director receives $37,500 in equity instruments issued quarterly in arrears as compensation. The Company incurred $37,500 in stock based compensation and $64,615 in consulting fees to this director during the three-months ended March 31, 2016 and 2015, respectively.
Amounts payable to this director was $293,546 as of March 31, 2016 and December 31, 2015. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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