Quarterly report pursuant to sections 13 or 15(d)

Accounts Payable and Accrued Expenses

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Accounts Payable and Accrued Expenses
 9 Months Ended
Sep. 30, 2013
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.