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9. RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2014
Related Party Transactions [Abstract]  
9. RELATED PARTY TRANSACTIONS

9. RELATED PARTY TRANSACTIONS

 

Certain stockholders made cash advances to the Company to help with short-term working capital needs. The net proceeds from stockholders with unstructured payment plans amounted to $156,984 and $31,806 for the years ended December 31, 2014 and 2013, respectively. The total balance due on unstructured loans from stockholders amounted to $432,293 and $251,054 at December 31, 2014 and 2013, respectively. Loans from stockholders made with repayment terms are described in Note 4 above.

 

During the year ended December 31, 2013 a Board member provided professional services to the Company for which he was paid $25,000 in cash and awarded 7,113,333 shares of common stock with a value of $173,500. Of the total shares 1,680,000 were issued subsequent to December 31, 2013 and are reflected on the financial statements as issuable common stock.