XML 42 R16.htm IDEA: XBRL DOCUMENT v3.19.3
10. Related Party Transactions
9 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]  
Related Party Transactions

During the three and nine months ended September 30, 2018, the Chairman of the audit committee and compensation committee received $4,500 for services performed. No compensation was paid during the three and nine month periods ended September 30, 2019. See Note 12 for shares of common stock issued to directors.

 

For the three and nine months ended September 30, 2019, the Company paid $1,764 and $8,034, respectively, compared to $1,764, and $6,686 for the three and nine months ended June 30, 2018, to John Lawrence, our President and Chief Executive Officer, as reimbursement for equipment used by the Company. Mr. Lawrence advanced the Company $227,200 for ongoing operating expenses during the nine months ended September 30, 2019, of which $17,387 has been repaid. In addition to the loan that was owed to Mr. Lawrence at September 30, 2019, the Company also owed Mr. Lawrence for payroll and other liabilities equal to $123,250 for a total owed to Mr. Lawrence at September 30, 2019 of $333,063.

 

John Gustaven, executive Vice President of the Company, advanced the Company $10,200 during the quarter ended September 30, 2019, and is included in payables to related parties at September 30, 2019.