RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) |
3 Months Ended | 9 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 20, 2013 |
Sep. 30, 2015 |
Sep. 30, 2014 |
Sep. 30, 2015 |
Sep. 30, 2014 |
Dec. 31, 2014 |
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Unpaid business expenses | $ 336,900 | $ 336,900 | $ 103,194 | ||||
Chief Executive Officer [Member] | Employment Agreements [Member] | |||||||
Annual base compensation | $ 120,000 | ||||||
Minimum annual base salary and compensation | $ 180,000 | ||||||
Description of related party transaction |
This contract was to continue unless and until terminated at any time by either the Company or CEO giving two month notice in writing. Such consulting agreement was terminated by mutual agreement as of May 1, 2015 and superseded by an employment agreement effective May 1, 2015. The initial term of employment agreement expires on December 31, 2018, unless earlier terminated by either party. The agreement provides for automatic one-year renewals, unless either party gives notice of their intention not to extend at least 90 days prior to the expiration of any term. |
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Description of amount equal to base salary |
|
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Compensation expense | 45,000 | $ 0 | $ 75,000 | $ 0 | |||
Consulting fees | 0 | 30,000 | 45,000 | 90,000 | |||
Deferred compensation | 304,000 | 304,000 | 184,000 | ||||
Unpaid business expenses | 336,900 | 336,900 | 103,194 | ||||
Secretary [Member] | Employment Agreements [Member] | |||||||
Annual base compensation | $ 60,000 | ||||||
Minimum annual base salary and compensation | $ 80,000 | ||||||
Description of related party transaction |
|
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Description of amount equal to base salary |
|
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Compensation expense | 20,000 | 0 | $ 33,333 | 0 | |||
Consulting fees | 0 | $ 15,000 | 21,667 | $ 45,000 | |||
Deferred compensation | $ 147,000 | $ 147,000 | $ 92,000 |