Annual report pursuant to Section 13 and 15(d)

Accrued Payroll and Payroll Taxes

v2.4.0.6
Accrued Payroll and Payroll Taxes
12 Months Ended
Dec. 31, 2012
Notes  
Accrued Payroll and Payroll Taxes

Note 6 – Accrued Payroll and Payroll Taxes

 

A significant portion of accrued payroll and payroll taxes relates to unpaid compensation for the Chief Executive Officer.  Accrued payroll taxes will become due upon payment of the related accrued compensation. 

 

Accrued payroll and payroll taxes are composed of the following:

 

 

December 31,

 

December 31,

2012

2011

Accrued payroll, vacation, and related payroll  taxes for current officers

 

 $1,018,894

 

 $965,946

Other former officers and directors

 

 -

 

 77,750

Accrued payroll taxes on accrued compensation to former officers and directors

 

 -

 

 3,067

Accrued payroll and payroll taxes

 

 $1,018,894

 

 $1,046,763