Related Party Transactions |
9 Months Ended |
|---|---|
Sep. 30, 2015 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions |
Note 7 - Related Party Transactions
Two of the Company’s Directors provide consulting services to the Company pursuant to agreements that provide for annual compensation of $42,000 each. Each agreement provides for an annual service term and can be extended by mutual consent of both parties. The service terms under the agreements expired in September 2015 and November 2015, respectively, and the Company is in the process of negotiating extended agreements with both parties. During the three months ended September 30, 2015 and 2014, the Company recognized aggregate expenses of $21,000 and $21,250 for consulting fees paid to the Directors. During the nine months ended September 30, 2015 and 2014, the Company recognized aggregate expenses of $63,000 and $43,417 for consulting fees paid to the Directors. As of September 30, 2015 and December 31, 2014, no amounts were owed to either Director. |