PROMISSORY NOTES - RELATED PARTY

12 Months Ended

Dec. 31, 2013

PROMISSORY NOTES ? RELATED PARTY [Abstract]

8. PROMISSORY NOTES - RELATED PARTY

Promissory notes - related party totaled $240,790 and $0 as of December 31, 2013 and 2012, respectively, as described below:

	2013		2012

Promissory note issued to a company owned by one of the stockholders in October 2013 with a term of six months and bear interest at the rate of 15%. The proceeds from the note were used to pay the deposit to purchase the Company's building located in Longwood, Florida (see Note 3)	$	120,000	$	-

Promissory notes issued to two directors in October 2013, in place of the Company's expense reimbursement, the notes have a term of six months and bear interest at the rate of 15%.		62,125		-

Promissory note issued to a stockholder in November 2013 with a term of six months and bear interest at the rate of 15%.		20,000		-

Promissory note issued to a stockholder in December 2013 with a term of six months and bear interest at the rate of 15%.		22,500		-

	$	224,625	$	-

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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