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Accrued Liabilities To Related Parties
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Accrued Liabilities To Related Parties

6. ACCRUED LIABILITIES TO RELATED PARTIES

 

As of March 31, 2012 and December 31, 2011: (1) $37,919 of fees accrued to Board of Director member Stephen Sperco ($17,500) and former Board of Director member Dale Geary ($20,419) and (2) $6,000 of accrued vehicle allowances to Stephen Sperco are included under the caption accrued liabilities to related parties totaling $209,500 and $134,241, respectively on the balance sheet. As of March 31, 2012 and December 31, 2011, accrued interest on the note payable to related party of $165,581 and $90,322, respectively are included under the caption accrued liabilities to related parties totaling $209,500 and $134,241, respectively on the balance sheet.