13. RELATED PARTY TRANSACTIONS
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12 Months Ended |
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Dec. 31, 2013
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Related Party Transactions [Abstract] | |
13. RELATED PARTY TRANSACTIONS |
Preferred Dividends The Company had accrued and unpaid dividends in respect of its Series B Preferred Stock of $3,657,000 and $5,852,000 as of December 31, 2013 and 2012, respectively. As further discussed in Note 8, the Company issued common stock in payment of certain accrued and unpaid dividends.
Note Payable to Related Party The Company has a note payable to its Chief Executive Officer totaling $750,000 as of December 31, 2013 and 2012. The maturity date is March 31, 2014. |
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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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