11. Short Term Debt - Related Parties |
6 Months Ended |
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Jun. 30, 2015 | |
| Debt Disclosure [Abstract] | |
| Short Term Debt - Related Parties |
As part of the Merger, the Company acquired certain liabilities from A Squared. From time to time, A Squared required short-term advances to fund its operations and provide working capital from its founder, the Company’s current Chief Executive Officer, Andrew Heyward. As of June 30, 2015, these advances totaled $411,533, compared to $411,008 as of December 31, 2014.
These advances are interest free and have no stated maturity. The Company has applied an imputed interest rate of 6% in accordance with ASC 835-30-45. During six months ended June 30, 2015 and 2014, the Company recognized imputed interest expense of $12,319 and $13,370 as a contribution to additional paid-in capital, respectively. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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