Quarterly report pursuant to Section 13 or 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)
3 Months Ended
Mar. 31, 2017
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)

The Company had an outstanding liability to Chet Billingsley, its Chief Executive Officer (“CEO”), as follows:

 

March 31,

2017

December 31,

2016

 

Accrued salaries and benefits

$

759,701

$

759,701

Accrued incentive fee and bonus

 

366,578

 

190,581

Accrued retirement and other benefits

457,079

457,079

Offset by shareholder advance

(293,493)

(368,983)

$

1,289,865

$

1,038,378