6. Other Transactions

12 Months Ended

Dec. 31, 2013

Related parties

Advances from related parties are summarized as follows:

Balance, January 1, 2012	$	91,500
2012 advances		119,700
Non-cash repayments		(4,000	)
Balance, December 31, 2012		207,200
2013 advances		213,000
Repayments		-
Balance, December 31, 2013	$	420,200

As of December 31, 2013, the Company has a balance of $7,707 owed to one officer for the expenses he incurred on behalf of the Company, which was recorded as related party accounts payable. During 2012, one officer paid $6,445 expense for the Company and was reimbursed with 25,779 shares of common stock at a fair value of the same amount. As of December 31, 2012, the Company has a related party accounts payable balance of $10,380 to two officers for the expenses paid on behalf of the Company. During 2012, the Company issued 290,099 shares with a fair value of $8,703 to pay off the related party accounts payable balance.

During 2012, the Company issued 260,000 shares to two officers for cash proceeds of $26,000.

Other

The Company sold an interest in a mutual insurance company that generated a gain of $26,973. The Company also settled vendor liabilities for a gain of $219,450. These gains were offset, in part, by a loss of $10,604 on a debt settlement.

- 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.

+ References + Details

NMI Health, Inc. 10-K