What is the $56,000 "Related Party Notes Payable" for?
Related Party Notes Payable: Workplace Health, due on demand, bearing interest at 4.5% per annum - 56,000
On December 3, 2004, the Company purchased its wholly owned subsidiary Workplace Screening Services, Inc. from related parties, Dexter Morris - Chairman and CEO, John Maring - Director and Vice President, Thomas Maring and Janet Kowalski for 120,000,000 shares of restricted common stock valued at $120,000 and the assumption of $467,352 of liabilities.
John Maring and his position as Chairman of Workplace Health is shown in several Cowlitz filings, e.g. -
...As Chairman of Workplace Health, Mr. Maring has been involved with the development of its e-commerce system and processes for drug testing products.