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Related Party Transactions
9 Months Ended
Sep. 30, 2019
Related Party Transactions  
Related Party Transactions

Note 10 - Related Party Transactions

 

Since July 2010, the accounting firm J.L. Hofmann & Associates, P.A. (“JLHPA”), whose principal is our CFO John L. Hofmann, has provided financial consulting and accounting services to the Company. In December 2017, J.L. Hofmann & Associates, P.A. merged with Kabat, Schertzer, De La Torre, Taraboulos & Co, LLC (“KSDT”). The Company paid $30,334 and $28,380 for its services in the nine months ended September 30, 2019 and 2018, respectively and $11,420 and $10,050 in the three months ended September 30, 2019 and 2018, respectively.

 

The Company’s consultant and shareholder Hank Leibowitz receives compensation of $7,500 per month, totaling $67,500 for the first nine months of 2019. At September 30, 2019, Mr. Leibowitz was owed accrued compensation of $30,000.