Related Party Transactions (Details Textual) (USD $)
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1 Months Ended | 6 Months Ended | 12 Months Ended | 39 Months Ended | ||
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Dec. 31, 2012
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Sep. 01, 2011
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Jun. 30, 2012
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Jun. 30, 2013
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Dec. 31, 2011
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Jun. 30, 2013
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Line of credit issued to related party | $ 1,000,000 | |||||
Line of credit facility, amount outstanding | 832,454 | 163,829 | 163,829 | |||
Line of credit facility accrued interest | 31,547 | 3,341 | 3,341 | |||
Line of credit facility, interest rate description | The line of credit bears interest equal to the lower of 10%, or the Wall Street Journal Prime Rate (3.25% at June 30, 2013) plus 5% | |||||
Line of credit facility, interest rate at period end | 8.25% | 8.25% | ||||
Line of credit facility, interest rate during period | 5.00% | |||||
Line of credit facility, description | The line of credit is for a period of one year and matured on August 31, 2012 | |||||
Consulting expenses | 55,000 | 598,995 | 155,000 | |||
Professional fees | 28,657 | 620,162 | 96,954 | 802,943 | ||
Financing fees | 35,000 | 75,000 | ||||
Related party expenses | 807,001 | 145,200 | 807,001 | |||
Due from related parties | 183,346 | 183,346 | ||||
Related parties
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Professional fees | $ 117,500 | $ 135,000 |
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- Definition
Consulting expenses No definition available.
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- Definition
Financing fees with related parties. No definition available.
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- Definition
Line of credit facility accrued interest No definition available.
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- Definition
Line of credit issued to related party No definition available.
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- Definition
Related party expenses No definition available.
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- Definition
For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the terms of a credit facility arrangement. Terms typically include interest rate, collateral required, guarantees required, repayment requirements, and restrictions on use of assets and activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The effective interest rate at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The effective interest rate during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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