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Royalties
3 Months Ended
Mar. 31, 2013
Royalties Disclosure [Abstract]  
Royalties Disclosure [Text Block]
5. Royalties

 

The Company is subject to a royalty agreement based upon sales of certain skin care products. The agreement requires the Company to pay a royalty based upon 8% of such sales, up to $227,175. Royalty expense approximated $14,000 and $6,000 for the three month periods ended March 31, 2013 and 2012, respectively. The remaining commitment at March 31, 2013, is approximately $101,000. The Company’s President has a 60% interest in the royalties.

 

At March 31, 2013 and December 31, 2012, included in accounts payable and accrued expenses was $110,000 and $96,000, respectively, in regards to this agreement.