RELATED PARTY TRANSACTIONS AND BALANCES

3 Months Ended

Mar. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 5 - RELATED PARTY TRANSACTIONS AND BALANCES

Transactions

	Three Months Ended March 31,
	2015		2014
Compensation to the Chief Executive Officer (1)	$	7,500	$	7,500
Compensation to the Chief Financial Officer (2)		7,500		7,500
Cash advance from Royal HTM Group, Inc. (3)		13,000		17,000
	$	28,000	$	32,000

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

2) Jack Braverman serves as a member of the Company’s Board of Directors and as the Company’s Chief Financial Officer. Mr. Braverman owns 50% of Royal HTM Group, Inc., the Company’s 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

As of March 31, 2015 payables to related parties consist of the following:

Amount due to Royal HTM Group, Inc.	$	3,936,000
Accrued compensation due to the Chief Financial Officer		525,000
Accrued compensation due to the Chief Executive Officer		2,132,000
	$	6,593,000

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