SUBSEQUENT EVENTS
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6 Months Ended |
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Jun. 30, 2014
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SUBSEQUENT EVENTS [Abstract] | |
SUBSEQUENT EVENTS |
NOTE 14 - SUBSEQUENT EVENTS On July 16, 2014 a note for $165,000 owed to a stockholder of the company matured. Although the Company has made principal payments of approximately $15,000 towards the outstanding balance, there were insufficient available funds to pay the balance of the note at the time of its expiration. The Company has requested and been granted a 1-year extension the terms of which are still being finalized as of the publication of this report. On August 11, 2014, an investor agreed to advance the Company's subsidiary, TrueVue 360 Inc., $50,000 against future receivables. The terms of the advance require repayment over the next 12 months of $4,800 every 4 weeks for a total $62,400. $40,000 of this advance was transferred to ISA as partial payment for $60,000 of software development costs incurred on behalf of TrueVue 360 for the TrueVue IT Software as a Service (SaaS) offering. |
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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