Quarterly report pursuant to Section 13 or 15(d)

Accrued Payroll and Payroll Taxes

v2.4.0.6
Accrued Payroll and Payroll Taxes
 3 Months Ended
Sep. 30, 2012
Accrued Payroll and Payroll Taxes:  
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 officers and directors that are no longer affiliated with the Company.  Accrued payroll taxes will become due upon payment of the related accrued compensation.

 

Accrued payroll and payroll taxes are composed of the following:

 

 

September 30, 2012

December 31, 2011

 

 

 

 

 

 

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

$1,011,913

$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

$1,011,913

$1,046,763