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Related Party Transactions
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
4. Related Party Transactions

At January 1, 2013, the Company owed LeadDog Capital LP $448,099. At January 1, 2014, the beginning balance owed to LeadDog Capital was $594,551. As described under Note 6 titled “Litigation,” a settlement agreement was reached effective August 18, 2014 pursuant to which all monies owed by the Company to LeadDog Capital LP were forgiven. The aforementioned settlement agreement was confirmed by the Nevada Court on October 2, 2014. See “Note 6.”

 

For the year ended December 31, 2014 and 2013, payables to related parties totaled $542,776 and $625,224, respectively. The monies, at December 31, 2014, were owed to Doug Beplate, our Chief Executive Officer. See Note 10.