INVESTMENT IN PARAGON WASTE SOLUTIONS LLC (Details Narrative) (USD $)
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12 Months Ended | 38 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||
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Dec. 31, 2013
Officer of the Company
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Dec. 31, 2013
Shareholder of the Company
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Dec. 31, 2010
Paragon Waste Solutions, LLC
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Dec. 31, 2013
Paragon Waste Solutions, LLC
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Jun. 30, 2012
Black Stone Management Services
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Aug. 31, 2011
Black Stone Management Services
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Dec. 31, 2010
Black Stone Management Services
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Dec. 31, 2013
Black Stone Management Services
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Sep. 30, 2013
Exclusive Use License and Joint Operations Agreement with Sterall Inc
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Dec. 31, 2013
Exclusive Use License and Joint Operations Agreement with Sterall Inc
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Business Acquisition [Line Items] | ||||||||||
Membership units issued | 1,000,000 | |||||||||
Membership units acquired | 600,000 | 400,000 | ||||||||
Percentage ownership | 5.00% | 5.00% | 54.00% | 54.00% | 26.00% | 36.00% | ||||
Percentage allocated to two individuals | 10.00% | |||||||||
Payment for funding of subsidiary | $ 1,341,300 | |||||||||
Stock issued for acquisition of intellectual property | 100,000 | |||||||||
Stock issued for acquisition of intellectual property (shares) | 100,000 | |||||||||
Description of business acquisition reason | The License Agreement granted to Sterall the use of the Paragon Technology for an initial five year term for the State of Florida, renewable for two additional five year terms, for the treatment and/or destruction of any and all regulated medical waste from any sources. In order for Sterall to maintain its exclusive license for the State of Florida. |
· | Phase I Distribution- All NOP shall first be allocated and paid out 75% to Paragon and 25% to Sterall until the first $1,200,000 in distributions are made to the joint venture partners ($900,000 Paragon/$300,000 Sterall). |
· | Phase II Distribution - Thereafter, NOP shall be allocated and paid out 25% to Paragon and 75% Sterall until the next $800,000 in distributions are made to the joint venture partners ($200,000 Paragon/$600,000 Sterall). |
· | Phase III Distribution - Thereafter, all NOP shall be allocated and paid out 50%-50% to each joint venture partner for so long as Steralls Initial Facility operates and generates NOP. |