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RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2016
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

 

14.RELATED PARTY TRANSACTIONS

 

The Company has a license agreement with the Chief Executive Officer of the Company. See Note 5.

 

In 2016, the Company authorized three of its executive officers to purchase shares of Common Stock directly from the Company at market prices.

 

In November 2016, the Company granted a stock option to its Chief Executive Officer for the purchase of three million shares of Common Stock.  Such stock option terminated by its terms before becoming exercisable in December 2016.

 

During 2014, the Company paid $38,693 to a family member of its Chief Executive Officer as an employee.