Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.6.0.2
Related Party Transactions
6 Months Ended
Jun. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions

11 RELATED PARTY TRANSACTIONS

 

The Company’s chief executive officer has advanced the Company various amounts on a non-interest bearing basis, which is being used for working capital. The advance has no fixed maturity. The activity is summarized as follows:

 

    June 30, 2016     December 31, 2015  
             
Balance at beginning of period   $ 318,002     $ 80,325  
New advances     40,000       407,000  
Repayment     -       (169,323 )
Balance at end of period   $ 358,002     $ 318,002  

 

See Note 8 for long-term debt due to a director.