Annual report pursuant to Section 13 and 15(d)

Schedule of an outstanding liability to its Chief Executive Officer ("CEO") as follows (Tables)

v3.8.0.1
Schedule of an outstanding liability to its Chief Executive Officer ("CEO") as follows (Tables)
12 Months Ended
Dec. 31, 2016
Schedule of an outstanding liability to its Chief Executive Officer ("CEO") as follows (Tables):  
Schedule of an outstanding liability to its Chief Executive Officer ("CEO") as follows (Tables)

As of December 31, 2016 and 2015, the Company had an outstanding liability to its Chief Executive Officer ("CEO") as follows:

 

2016

2015

 

Accrued salaries and benefits

$

759,701

$

737,878

Accrued incentive fee and bonus

 

190,581

 

190,581

Accrued retirement and other benefits

457,079

448,415

Offset by shareholder advance

(368,983)

(892,502)

$

1,038,378

$

484,372