NOTE 2. RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Sep. 30, 2015 | |
| Notes to Financial Statements | |
| NOTE 2. RELATED PARTY TRANSACTIONS | As of September 30, 2015 and December 31, 2014, the Company had payables due to officers, for accrued compensation and services of $385,765 and $296,265 respectively.
The Company amended a note payable agreement with Lanphere Law Group, the companys largest shareholder, which forgave $108,000 of the principal balance. The original principal balance on the note was $214,334.50 and the new principal balance on the note after the debt forgiveness is $106,334.50.
The Company entered into a lease agreement with Lanphere Law Group, whereas the Company is the tenant and is paying monthly rent of $4,100. |