RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2013

NOTE 14. RELATED PARTY TRANSACTIONS

As of December 31, 2013, the Company had $1,451,357 due to related parties, consisting primarily of $1,149,391 to T1T Lab, and $301,966 due to Enerfund, LLC (which is wholly-owned by Mike Zoi, a director and majority stockholder of the Company). The $1,149,391 due to T1T Lab was forgiven in the first quarter of 2014 in exchange for our 10% interest in T1T Lab (See Subsequent Events Note 19).

- 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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