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NOTE 11 - RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2016
Related Party Transactions [Abstract]  
NOTE 11 - RELATED PARTY TRANSACTIONS

NOTE 11 - RELATED PARTY TRANSACTIONS

 

On May 16, 2011, the Company transferred, through a spin-off to its then wholly owned subsidiary, Worlds Online Inc., the majority of its operations and related operational assets. The Company retained its patent portfolio which it intends to continue to increase and to more aggressively enforce against alleged infringers. The Company also entered into a License Agreement with Worlds Online Inc. to sublicense its patented technologies.

 

Due to related party is comprised of cash payments for operating expenses made by Worlds Online Inc. on behalf of Worlds Inc. The balance at December 31, 2016 is $5,053 and at December 31, 2015 is $36,310. The balance of accrued expense and accounts payables to related party is $742,032 and $571,923 at December 31, 2016 and 2015, respectively.