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Related Party Transactions
3 Months Ended
Mar. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions

Note 6 – Related Party Transactions

 

On April 2, 2014, the Company granted an option to purchase1,000,000 shares of the Company’s common stock, valued at approximately $282,000, to a company owned by Mr. Jack Ross, Chief Executive Officer of the Company.

 

On October 31, 2014, the Company borrowed $100,000 through a promissory note bearing interest at 10% with a maturity date of October 31, 2015 from a company owned by Mr. Jack Ross, Chief Executive Officer of the Company. As of March 31, 2015, the Company’s obligations pursuant to the promissory note were converted into 400,000 shares of the Company’s common stock.

 

The Company accrued consulting fees of $15,000 per month to a company owned by Mr. Jack Ross, Chief Executive Officer of the Company. As of March 31, 2015, total outstanding balance of $45,000 was paid.

 

At March 31, 2015, $4,893 was due from the Company owned by Mr. Jack Ross, Chief Executive Officer of the Company, in the form of a note receivable.