Tuesday, April 08, 2014 2:33:37 PM
"The Company has two employees, whom are deemed related parties based on significant stock ownership, which earn an aggregated annual amount of $360,000. Due to inadequate cash positions of the Company for several years, the Company made only partial payments to the employees. As of December 31, 2013 and 2012, aggregate accrued balances due the employees were $1,365,645 and $1,823,767, respectively. Reflected in the change of the balance during the year ended December 31, 2013 is a stock issuance to offset the balance due of $450,000."
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