Quarterly report pursuant to Section 13 or 15(d)

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

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Schedule of an outstanding liability to its Chief Executive Officer ("CEO") as follows (Tables)
9 Months Ended
Sep. 30, 2015
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 September 30, 2015 and December 31, 2014, the Company had an outstanding liability to its Chief Executive Officer ("CEO") as follows:

 

September 30,

2015

December 31,

$2014

 

Accrued salaries and benefits

$

731,947

$

716,055

Accrued incentive fee and bonus

 

190,581

 

190,581

Accrued retirement and other benefits

446,249

439,751

Offset by shareholder advance

(915,684)

(1,073,405)

$

453,093

$

272,982