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Related Parties
6 Months Ended
Jun. 30, 2014
Related Party Transactions [Abstract]  
Related Parties

11. Related Parties

 

Related parties are natural persons or other entities that have the ability, directly or indirectly, to control another party or exercise significant influence over the party in making financial and operating decisions. Related parties include other parties that are subject to common control or that are subject to common significant influences.

 

Effective January 2, 2012, Erik Klinger was appointed by the Company to serve as the Chief Financial Officer, on a part-time basis, and a Director of the Company. Mr. Klinger earned fees of $24,000 and $49,200, in the six months ended June 30, 2014 and the fiscal year ended December 31, 2013, respectively.

 

Robert Morris Price was appointed by the Company to serve as the President, Chief Executive Officer, and Treasurer as well as Chairman of the Company in April 2012. On May 20, 2013, Robert Price resigned as CEO of the Company to pursue other opportunities. This decision was not the result of any disagreement with the Company. Erik Klinger became the Chief Executive Officer effective the same day.

 

The Company’s sole director and officer does not own any stock in the Company.

 

During the six months ended June 30, 2014, the Company paid no rent for the use of headquarters in El Segundo, California, though it did pay minimal fees for office expenses.