NOTE 9 - COMMITMENTS AND CONTINGENCIES (Details Narrative) |
Sep. 30, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
|
Aug. 30, 2012
USD ($)
$ / shares
shares
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---|---|---|---|
Note 9 - Commitments And Contingencies | |||
Base salary - president | $ 175,000 | ||
Annual increase rate | 0.10 | ||
Car allowance per month | $ 500 | ||
Anual bonus rate | 25.00% | ||
Additional bonus 1 | $ 75,000 | ||
Minimum Pre-Tax income increase rate | 15000.00% | ||
Maximum Pre-Tax income increase rate | 200 | ||
Additional bonus 2 | $ 100,000 | ||
Pre-Tax income increase rate - minimum | 201.00% | ||
Pre-Tax income increase rate - maximum | 250.00% | ||
Additional bonus 3 | $ 200,000 | ||
Pre-Tax income increase rate - minimum | 251.00% | ||
Additional bonus to pre-tax income - maximum | 5.00% | ||
Life insurance premiums | $ 10,000 | ||
Options granted | shares | 4,500,000 | ||
Options exercise price | $ / shares | $ 0.01 | ||
Death benefit | $ 2,000,000 | ||
Times of base amount upon change of control | 2.99 | ||
Salary balance due and included accrued expenses | $ 775,900 | $ 599,265 |
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