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9. RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2011
Related Party Transactions Disclosure [Text Block]
9.    RELATED PARTY TRANSACTIONS

Accounts Payable and Related Party Vendor Payments

At September 30, 2011, the Company owed its current and former officers $359,267 of deferred compensation included in accrued expenses and $7,512 of reimbursable expenses which are included in accounts payable.

At September 30, 2011, the Company had $109,145 of accounts payable to related parties.

Notes Payable to Director

During 2009, John Evey advanced $50,000 in March and $50,000 in September to the Company.  On October 1, 2009, the Company executed a 10% convertible promissory note which was amended at December 31, 2010 as discussed in Note 3.  On April 27, 2010, Mr. Evey was added to the Board of Directors of Envision.  At September 30, 2011, the note had a total balance outstanding of $122,683, and a balance, net of discounts, of $109,721.  The interest on the note continues to accrue at a rate of 10% (see Note 3).

Other

Jay Potter, Director, has been engaged through different organizations to provide capital raising services to the Company as it related to the private offering of the Company.  Through September 30, 2011, the Company has paid $395,280 of cash offering costs related to these services all of which have been accounted for as a charge to additional paid-in capital in 2010 and 2011, respectively.  Further, as a part of this offering, the Company has issued 714,286 warrants of which 382,143 were issued to Mr. Potter. These warrants are exercisable for 5 years at an exercise price of $0.40.

In August 2011, the Company issued 600,000 warrants, each with a five year term and exercise price of $0.25, for investor relations and financial advisory services to a Company controlled by Jay Potter, our Director.  These warrants, valued at $119,360 using the Black-Scholes valuation methodology, will be expensed over the six month term of the agreement. See Note 8.

A company owned in part by the Company’s executive director rents office space from the Company for $500 per month which amount is deemed to be the equivalent value for rent paid by third parties for such space.