10. RELATED PARTY TRANSACTIONS
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3 Months Ended |
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Mar. 31, 2014
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Related Party Transactions [Abstract] | |
10. RELATED PARTY TRANSACTIONS |
Preferred Dividends The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $3,657,000 as of March 31, 2014 and December 31, 2013.
Note Payable to Related Party The Company had a note payable to its Chief Executive Officer totaling $750,000 which was due on March 31, 2014. On March 31, 2014, the Company paid in cash the outstanding balance of the note payable. |
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- Details
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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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