RELATED PARTY ACCOUNTS RECEIVABLE AND ACCRUED INTEREST PAYABLE

12 Months Ended

Dec. 31, 2013

NOTE 12. - RELATED PARTY ACCOUNTS RECEIVABLE AND ACCRUED INTEREST PAYABLE

Accrued Interest Payable – Included in accrued interest payable is accrued interest payable to related parties of $358,698 at December 31, 2013 ($317,287 - 2012).

Accounts Receivable – Certain officers or directors of the Company have made loans to goSudo, a customer of the Company, and can influence the management of this company. Included in accounts receivable are amounts due from this related party of $269 at December 31, 2013 ($71,302 - 2012).

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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