Related Party Transactions
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3 Months Ended |
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Jun. 30, 2013
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Notes | |
Related Party Transactions |
9. RELATED PARTY TRANSACTIONS:
During the three and six months ended June 30, 2013, the Company paid consulting fees of $47,400 and $94,800, respectively to Richard Giles, a founder, stockholder and former director of the Company. During the three and six months ended June 30, 2012 the Company paid consulting fees of $37,700 and $75,400, respectively to Richard Giles. There were no other payments to related parties during the three months ended June 30, 2012. During the six months ended June 30, 2012 the company also paid consulting fees of $12,500 to Larry Griffin, a founder, and former executive officer of the Company. |
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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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