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NOTE 9 - COMMITMENTS AND CONTINGENCIES
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3 Months Ended |
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Mar. 31, 2015
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| Note 9 - Commitments And Contingencies | |
| NOTE 9- COMMITMENTS AND CONTINGENCIES |
NOTE 9 – COMMITMENTS AND CONTINGENCIES
Operating lease
The office lease was terminated due to the relocation of our office to Jacksonville, FL as a result of the completion of reverse triangular merger.
Legal Proceedings
From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of December 31, 2014, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations.
In early 2015, the Company elected to cancel its software development with FacilityTeam of Ontario, Canada. This cancellation was based primarily on a lack of deliverables against pre-agreed project milestones. FacilityTeam elected to file a suit for breach of contract in Palm Beach county Florida which both had no merit and was in direct contravention of the agreed resolution for disputes being mediation and, if necessary, Arbitration. The Company’s counsel is currently working to resolve this issue without incurring undue legal expense and the Company believes there is no merit to their claims. |