XML 35 R13.htm IDEA: XBRL DOCUMENT

Payables to Related Parties	3 Months Ended
Mar. 31, 2015
Notes Payable to Related Parties
Payables to Related Parties	Note 8 – Payables to Related Parties Notes payable to related parties at March 31, 2015 consist of notes payable to stockholders of $400,000 (issued in 2012), less unamortized discount of $22,589 related to common stock warrants that had been issued to the stockholders with the notes. The discount is being amortized over the extended term of the notes, which are due in one principal payment on December 31, 2016. Interest is payable semiannually at 10%. The note is collaterized by all receivables now or hereafter existing pursuant to the license agreement with VDF FutureCeuticals, Inc. discussed in Note 3. Payable to related party at March 31, 2015 consists primarily of a $30,000 unsecured note payable to Edward Gomez bearing interest at 10%. The note was due in full in May 2015. However, during May 2015, $10,000 of the note balances and all accrued interest was paid and the lender extended the maturity date on the balance of the note to July 2015.

Payables to Related Parties

3 Months Ended

Mar. 31, 2015

Note 8 – Payables to Related Parties

Notes payable to related parties at March 31, 2015 consist of notes payable to stockholders of $400,000 (issued in 2012), less unamortized discount of $22,589 related to common stock warrants that had been issued to the stockholders with the notes. The discount is being amortized over the extended term of the notes, which are due in one principal payment on December 31, 2016. Interest is payable semiannually at 10%. The note is collaterized by all receivables now or hereafter existing pursuant to the license agreement with VDF FutureCeuticals, Inc. discussed in Note 3.

Payable to related party at March 31, 2015 consists primarily of a $30,000 unsecured note payable to Edward Gomez bearing interest at 10%. The note was due in full in May 2015. However, during May 2015, $10,000 of the note balances and all accrued interest was paid and the lender extended the maturity date on the balance of the note to July 2015.