5. RELATED PARTY TRANSACTIONS |
9 Months Ended |
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Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
5. RELATED PARTY TRANSACTIONS |
The Company leases an office building and equipment from an entity owned by related parties on a month-to-month basis. Rent expense amounted to $24,112 and $72,336 for each of the three and nine months ended September 30, 2015 and 2014, respectively.
The Company maintains deposits and other accounts at a bank which is less than 5%-owned by related parties and where a stockholder and Company director is a member of the Board of Directors of the bank. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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