RELATED PARTY TRANSACTIONS AND BALANCES

9 Months Ended

Sep. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 5 - RELATED PARTY TRANSACTIONS AND BALANCES

Transactions

	Nine Months Ended September 30,
	2015		2014
Compensation to the Chief Executive Officer (1)	$	22,000	$	22,000
Compensation to the Chief Financial Officer (2)		22,000		22,000
Cash advance from Royal HTM Group, Inc.  (3)		136,000		62,000
	$	180,000	$	106,000

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) Although it is under no obligation to do so, Royal HTM Group, Inc., a Canadian company owned by Messrs. Birshtein and Braverman, lends funds to the Company (and advances funds on its behalf) from time to time to cover the Company’s on-going expenses.

Balances

As of September 30, 2015 payables to related parties consist of the following:

Amount due to Royal HTM Group, Inc.	$	4,052,000
Accrued compensation due to the Chief Financial Officer		540,000
Accrued compensation due to the Chief Executive Officer		2,154,000
	$	6,746,000

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