General form of registration statement for all companies including face-amount certificate companies

Accounts Payable and Accrued Expenses

v2.4.0.8
Accounts Payable and Accrued Expenses
9 Months Ended 12 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Accounts Payable and Accrued Expenses [Abstract]    
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
6.    ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses consisted of the following at:
 
   
September 30,
2013
   
December 31,
2012
 
Accounts payable
 
$
2,978,852
   
$
370,675
 
Accrued wages
   
115,500
     
97,961
 
Accrued sales and payroll taxes
   
214,679
     
-
 
Accrued fees
   
1,293,854
     
72,038
 
Accrued interest expense
   
4,553
     
7,200
 
    Total
 
$
4,607,438
   
$
547,874
 
 
Accrued fees consist primarily of fees owed to consultants, revenue share and electricity reimbursements to property owners where the EV chargers are situated.
 
In conjunction with the acquisition of 350Green, the 350Green vendor’s accounts payable was collateralized by 28 EV charging stations installed by 350Green in California and Maryland to be paid in monthly installments of $10,000.  The vendor’s account payable was $126,141 at such time and is $66,141 as of September 30, 2013.
4.         ACCOUNTS PAYABLE AND ACCRUED EXPENSES
 
Accounts payable and accrued expenses consisted of the following at:
 
   
December 31 ,2012
   
December 31, 2011
 
Accounts payable
  $ 370,675     $ 294,083  
Accrued wages
    97,961       71,030  
Accrued fees
    72,038       -  
Accrued interest expense
    7,200       -  
    Total
  $ 547,874     $ 365,113