RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2014

10. RELATED PARTY TRANSACTIONS

Mobilisa leases office space from a company that is wholly-owned by two directors, who are members of management. The Company entered into a 10-year lease for the office space ending in 2017. The annual rent for this facility is currently $85,498 and is subject to annual increases based on the increase in the CPI index plus 1%. The Company is a guarantor of the leased property. For both the three and six months ended June 30, 2014 and June 30, 2013, total rental payments for this office space were $22,075 and $44,150, respectively.

As of June 30, 2014, the Company had $160,000 in accrued expenses related to board fees for the first two quarters of 2014.

- 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.

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