RELATED PARTY TRANSACTIONS AND BALANCES

12 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 6 - RELATED PARTY TRANSACTIONS AND BALANCES

The following schedule sets forth various obligations of the Company to related parties.

Transactions

	2014		2013
Compensation and related expenses due to the Company’s Chairman of the Board and Chief Executive Officer (1)	$	30,000	$	30,000
Compensation due to  the Company’s Chief Financial Officer (2)		30,000		30,000
Cash loans and advances from Royal HTM Group, Inc.  (3)		100,000		151,000
	$	160,000	$	211,000

1) Boris Birshtein serves as the Company’s Chairman of the Board of Directors and its Chief Executive Officer on a month-to-month basis. Mr. Birshtein owns 50% of Royal HTM Group, Inc. our majority shareholder.

2) Jack Braverman serves as a member of the Company’s Board of Directors and as the Company’s Chief Financial Officer on a month-to-month basis. Mr. Braverman owns 50% of Royal HTM Group, Inc. our majority shareholder.

3) Royal HTM Group, Inc., a Canadian company owned and controlled by the Company’s two officers and the two members of its Board of Directors, renders certain business development services to the Company. Royal HTM Group, Inc. has also loaned and advanced money to the Company to fund its expenses, and is the Company’s majority shareholder.

Balances

Payables to related parties consist of the following:

	DECEMBER 31,
	2014		2013
Amount due to Royal HTM Group	$	3,878,000	$	3,778,000
Accrued compensation due to the Company’s Chief Financial Officer		540,000		510,000
Accrued compensation due to the Company’s Chairman of the Board		2,147,000		2,117,000
	$	6,565,000	$	6,405,000

These amounts are non-interest bearing and due on demand.