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Related Party Transactions
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3 Months Ended |
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Mar. 31, 2014
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| Notes | |
| Related Party Transactions |
10. RELATED PARTY TRANSACTIONS:
The Company has a consulting agreement and a Senior Subordinated note payable with Mr. Richard Giles, a founder, stockholder, and former director of the Company. During the three months ended March 31, 2014 the Company paid consulting fees of $37,400, senior subordinated debt payments of $250,000 in principal and $6,250 in interest. During the three months ended March 31, 2013 the Company paid consulting fees of $47,400 to Mr. Giles.
The Company issued 41,668 shares to Dworsky Partners, LLC, and entity in which David Dworsky owned 80% of the ownership interest, and 3,333 shares to Reginald Greenslade, one of the Companys directors as part of the consideration in the acquisition of Dr. Pave. |
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- Details
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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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