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- Related party transactions (Tables)
3 Months Ended
Mar. 31, 2014
- Related party transactions [Abstract]  
The Company has various notes

The Company has various notes and interest payable to the following entities as of March 31, 2014, and December 31, 2013, respectively:

 

 

2014

 

2013

Various notes payable to Vaso Boreta bearing 10% per annum and due on demand (1)        

$

3,200,149

$

3,200,149

 

 

 

 

 

Note payable to BE Holdings 1, LLC, owned by the chairman of the board, bearing 10% per annum and due on demand (2)

 

100,000

 

100,000

 

 

 

 

 

Various notes payable to SAGS, bearing 10% per annum and due on demand (3)

 

833,846

 

833,846

 

 

 

 

 

Notes payable to Ron and John Boreta personally (4)

 

75,000

 

75,000

 

 

 

 

 

Various short term notes payable to the Westside 15 Store, bearing 10% per annum and due on demand (5)

 

41,100

 

-

 

 

 

 

 

Note payable to BE, III bearing 10% per annum and due on demand (6)

 

200,500

 

200,500

 

 

 

 

 

Total

$

4,450,595

$

4,409,495

 

1)     

Vaso Boreta is the former Chairman of the Board of the Company who passed away in October 2013.

2)     

BE Holdings1. LLC is owned by Ronald Boreta and John Boreta.

3)     

Saint Andrews is owned by Ronald Boreta and John Boreta.

4)     

The Notes are in the principal amount of $37,500 each.

5)     

The Westside 15 Store is owned by Ronald Boreta and John Boreta

6)     

BE III, LLC is owned by Ronald Boreta and John Boreta.