Annual report pursuant to Section 13 and 15(d)

RELATED PARTY TRANSACTIONS (Tables)

v2.4.1.9
RELATED PARTY TRANSACTIONS (Tables)
12 Months Ended
Dec. 31, 2014
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions [Table Text Block]
There were no loans payable to the CEO at December 31, 2014.
 
 
 
December 31, 2013
 
 
 
Principal
 
Interest
 
Total
 
6% Loan payable
 
$
266,663
 
$
51,432
 
$
318,095
 
10% Convertible debt obligation
 
 
800,000
 
 
176,475
 
 
976,475
 
20% Note payable
 
 
63,936
 
 
4,569
 
 
68,505
 
 
 
$
1,130,599
 
$
232,476
 
$
1,363,075
 
 
[1] This note bore interest at 20% because it is denominated in Argentine pesos and the peso has been subject to significant devaluation in recent years.