Related Party Transactions

3 Months Ended

Mar. 31, 2014

Note 5 – Related Party Transactions

For the three months ended March 31, 2014 and 2013 and for the period from inception (January 23, 2008) to March 31, 2014, the Company incurred consulting fees of $0, $30,000, and $365,000, respectively, to the Alternative Energy Resource Alliance, a non-profit organization whose executive director is David Goodson. In exchange, Mr. Goodson provides scientific consulting services to the Company. 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 at March 31, 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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