Annual report pursuant to Section 13 and 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)
12 Months Ended
Dec. 31, 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 December 31, 2015 and 2014, the Company had an outstanding liability to its Chief Executive Officer ("CEO") as follows:

 

 

 

2015

 

2014

 

 

 

 

 

Accrued salaries and benefits

$

737,878

$

716,055

Accrued incentive fee and bonus

 

190,581

 

190,581

Accrued retirement and other benefits

 

448,415

 

439,751

Offset by shareholder advance

 

(892,502)

 

(1,073,405)

 

$

484,372

$

272,982