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RELATED PARTY TRANSACTIONS
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3 Months Ended |
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Mar. 31, 2013
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| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
We lease our offices from a related party that is related to our CEO. The lease was entered into effective September 1, 2010 for a period of two years requiring a monthly rental payment of $10,359. Our lease expired at the end of August 2012 and is currently on a term of month-to-month.
We have a note receivable from a related party. See Note 3.
We have a note payable to a related party. See Note 9.
Certain administrative, accounting and legal support services are performed by a related party of the CEO. We accrued or paid fees to the related party in the amount of $2,610 and $5,600 for the three months ended March 31, 2013 and 2012, respectively. |
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- Details
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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