You image says $300k in notes were paid in Jan of 2016
The same 10k also says:
On March 18, 2016, CBK Consultants, Inc. (“CBK”) filed a Notice of Motion for Summary Judgment in Lieu of Compliant against us (CBK Consultants, Inc. a/k/a CBK, Inc. v. Wowio, Inc., Supreme Court of the State of New York, County of Nassau), seeking the repayment of $450,000 of principal from a promissory note we given CBK along with $20,000 of interest along with costs and attorney fees. We are scheduled to appear in court on April 22, 2016 and we are currently evaluating our options with respect to the Motion for Summary Judgment.
Since its inception, the Company made several payments to employees for wages that were net of state and federal income taxes. Due to cash constraints, the Company has not yet remitted all of these withheld amounts to the appropriate government agency. Accordingly, the Company has recorded $358,477 and $345,214, related to this obligation in accrued compensation and related costs in the accompanying consolidated balance sheets as of December 31, 2015 and 2014, respectively, including estimated penalties and interest.
On October 7, 2013, Steve Timmerman (“Timmerman”), a former employee, filed a complaint against us and Brian Altounian and his wife (Timmerman v. WOWIO, Brian Altounian and “Jane Doe” Altounian, Superior Court of the State of Washington), seeking past due wages of $57,096, damages and attorney’s fees. The Company has accrued the amount of past due wages in its financial statements. A judgment was entered into on March 18, 2016 for an amount of $162,475, which includes interest of $14,005. The Company accrued the remaining amount of $91,374 and related interest of $8,529 in accounts payable and accrued expenses as of December 31, 2015.
On March 18, 2016, CBK Consultants, Inc. (“CBK”) filed a Notice of Motion for Summary Judgment in Lieu of Compliant against us (CBK Consultants, Inc. a/k/a CBK, Inc. v. Wowio, Inc., Supreme Court of the State of New York, County of Nassau), seeking the repayment of $450,000 of principal from a promissory note we given CBK along with $20,000 of interest along with costs and attorney fees. We are scheduled to appear in court on April 22, 2016 and we are currently evaluating our options with respect to the Motion for Summary Judgment.
Court: Nassau Civil Supreme Index Number: 601831/2016 Case Name: CBK CONSULTANTS, INC. A/K/A vs. WOWIO, INC. Case Type: E-Filed Commercial Division Track: Standard RJI Filed: 03/18/2016 Date NOI Due: NOI Filed: Disposition Date: Calendar Number: Jury Status: Justice Name: STEPHEN A. BUCARIA
Attorney/Firm For Plaintiff: WEXLER BURKHART HIRSCHBERG ET Attorney Type: Attorney Of Record Atty. Status: Active 377 OAK STREET #C2 GARDEN CITY, NY 11530 516-222-2230
Attorney/Firm For Defendant: WOWIO,INC - Prose Attorney Type: Pro se Atty. Status: Active
WOWIO,INC - Prose Attorney Type: Pro se Atty. Status: Active
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