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Related Party Transactions
12 Months Ended
Dec. 31, 2016
Related Party Transactions [Abstract]  
Related Party Transactions

10.

Related Party Transactions


In each of the years ended December 31, 2016 and December 31, 2015, Michael A. Feinstein, M.D., the Company’s Chairman of the Board and Chief Executive Officer, deferred $85,000 of salary owed to him under an employment agreement with the Company. At December 31, 2016 and December 31, 2015, Dr. Feinstein was owed $301,200 and $290,400, respectively, of salary that was deferred by him in response to the adverse liquidity experienced by the Company beginning in 2012. There are no formal terms or arrangements for repayment of the deferred salary. During the years ended December 31, 2016 and 2015 the Company made payments of $74,200 and $10,000, respectively, to Dr. Feinstein, representing a portion of amounts owed to him. During the first three months of 2017, the Company made additional deferred salary payments of $95,500 to Dr. Feinstein. There is no interest payable on the deferred salary.