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Related Party Transactions
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12 Months Ended |
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Dec. 31, 2012
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| Related Party Transactions [Abstract] | |
| Related Party Transactions |
Note 9 - Related Party Transactions
During the year ended December 31, 2012 the Company issued Three Million Three Hundred Thirty Three Thousand Three Hundred Thirty-Three (3,333,333) shares of the Company’s common stock, $0.001 par value per share (the “Common Stock) at a price of $0.15 for an aggregate purchase price of $500,000. The shares were issued to Charles M. Piluso, Cliff Stein, John Coghlan and Jan Burman four directors and their affiliates.
Due to related party represents rent accrued to a partnership controlled by the Chief Executive Officer of the company for the New York Data Center. The rent expense for the data center is $1,500 per month. As of December 31, 2012, DSC owed $162,804 under this agreement.
As of December 31, 2012 the Company owed the Chief Executive Officer $758,320. These advances bear no interest and have no stated terms of repayment.
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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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