Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions, Disclosure

v3.7.0.1
Related Party Transactions, Disclosure
9 Months Ended
Sep. 30, 2016
Notes  
Related Party Transactions, Disclosure

10.          RELATED PARTY TRANSACTIONS:

 

Dividend and Interest activity

As of September 30, 2016, the Company has secured notes payable with Mr. Yorke, as the manager of, JMW Fund, LLC, The Richland Fund, LLC, The San Gabriel Fund, LLC, and the Arroyo Fund, LLC in the aggregate amount of $962,361; and an outstanding balance of $138,000 on the revolving line of credit.  Mr. Yorke manages these funds and these funds own 1,457,747 shares of common stock.  Mr. Yorke, as the manager, has accrued interest from loans payable for the three and nine months ended September 30, 2016 of $47,836 and $144,892, respectively.  During the three and nine months ended September 30, 2015 the funds received or had accrued interest of $32,824 and $64,904, respectively.