" On November 15, 2005, a subscription for shares equal to the principal amount of $525,000 was entered into, fully amortized over thirty years with the interest rate of 5% per annum. The subscription was payable in equal monthly payments of $2,818. The payments on the subscription defaulted. On December 31, 2012, the Company wrote off the receivable. In March 2013, shares of common stock totaling 750,000 held by the shareholder under this subscription receivable were returned to the Company. Such shares are treated by the Company as authorized but unissued. "
"Investment in SL Power Concerts—The Company formed a joint venture with a third party for 50% equity ownership with an investment of $50,000. The investment was accounted for under the equity method. There were net assets of $94,000. The joint venture did not have revenues for the three months ended March 31, 2013. Expenses for the three months ended March 31, 2013 totaled $5,600."
"From time to time, Stan Lee has appeared and will continue to appear at certain events or projects for which both he and the Company receive payments. There were no payments to Mr. Lee during the three months ended March 31, 2013 and 2012."
"During the three months ended March 31, 2013, the Company paid $39,706 of costs on behalf of SL Power Concerts (“SLPC”), 50% of which is due from the other equity owner of SLPC and 50% of which is due from SLPC. This amount is included in other receivables at March 31, 2013."
"During March 2011, the Company entered into an agreement with a minority shareholder, who is also a former employee, to loan the individual an amount totaling $66,668. The loan is non-interest bearing and is collateralized by the stock of the Company already owned by such shareholder. At December 31, 2012, the balance of the receivable was $66,668. The receivable is considered to be in default and the Company recorded an allowance for the full amount."