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Royalties
3 Months Ended
Mar. 31, 2015
Royalties [Abstract]  
Royalties
7.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 $19,000 and $14,000 for the three month periods ended March 31, 2015 and 2014, respectively. The remaining commitment at March 31, 2015, is approximately $1,000. The Company’s President has a 60% interest in the royalties.

 

At March 31, 2015 and December 31, 2014, included in accounts payable and accrued expenses was $151,986 and $132,986, respectively, in regards to this agreement.