Related Party Transactions

9 Months Ended

Sep. 30, 2013

Note 5 – Related Party Transactions

For the three and nine months ended September 30, 2013 and 2012 and for the period from inception (January 23, 2008) to September 30, 2013, the Company incurred consulting fees of $30,000, $90,000, $30,000, $90,000 and $389,000, respectively, to the Alternative Energy Resource Alliance, a non-profit organization whose executive director is David Goodson. In exchange, Mr. Goodson provides services as the Company’s Chief Science Officer. Mr. Goodson is a director and co-founder of the Company and, through an irrevocable trust, a significant beneficial owner of the Company's common stock.

- 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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