4. Related Party Transactions	6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]
4. Related Party Transactions	Licensing and Royalty Agreement On September 20, 2011, Playbutton, LLC entered into a license agreement with Parte pursuant to which Parte granted Playbutton, LLC the exclusive rights to use the patents, trademark and other proprietary rights relating to the Playbutton product in all areas of the world other than Japan, Taiwan and South Korea. Under the terms of the Agreement the Company was required to pay quarterly royalty fees as follows: The Royalty Rate was 5% of Net sales of the licensed products made through a web based customization site and 7% of Net sales of the licensed products sold via other sales channels. The Company incurred $0 and $8,939 of royalty expenses for the six months ended June 30, 2013 and 2012, respectively. Royalty expenses are included in general and administrative expenses on the Statement of Operations. In April 2012, the license agreement with Parte was amended and royalties were no longer being charged. In December 2012, the license agreement was terminated. Consulting Agreement On December 20, 2012, the Company entered into a consulting agreement with Parte to provide marketing and business development services. Parte is to be compensated $4,000 per month for its services. The Company compensated Parte $24,808 under this agreement during the period January 1, 2013 through June 30, 2013. Office Lease The Company subleases its office space on a month-by-month basis from a non-profit organization affiliated with the Company’s largest shareholder. Monthly rental amounts are adjusted based on occupancy. At June 30, 2013 the monthly rental amount was $4,500 Rent expense under the lease for the six months ended June 30, 2013 and 2012 was $13,500 and $6,267, respectively. Related Party Sales During the six months ended June 30, 2013 and 2012 the Company recognized revenue from product sales to a related party in the amount of $3,920 and $4,800, respectively. The outstanding accounts receivable balance from this related party as of June 30, 2013 and December 31, 2012 was $8,353 and $9,488, respectively. Related Party Advances As of June 30, 2013 and December 31, 2012 the Company was indebted to a related party in the amount of $0 and $450, respectively. During the six months ended June 30, 2013 the $450 advances were repaid.

4. Related Party Transactions

6 Months Ended

Jun. 30, 2013

Licensing and Royalty Agreement

On September 20, 2011, Playbutton, LLC entered into a license agreement with Parte pursuant to which Parte granted Playbutton, LLC the exclusive rights to use the patents, trademark and other proprietary rights relating to the Playbutton product in all areas of the world other than Japan, Taiwan and South Korea.

Under the terms of the Agreement the Company was required to pay quarterly royalty fees as follows:

The Royalty Rate was 5% of Net sales of the licensed products made through a web based customization site and 7% of Net sales of the licensed products sold via other sales channels.

The Company incurred $0 and $8,939 of royalty expenses for the six months ended June 30, 2013 and 2012, respectively. Royalty expenses are included in general and administrative expenses on the Statement of Operations.

In April 2012, the license agreement with Parte was amended and royalties were no longer being charged. In December 2012, the license agreement was terminated.

Consulting Agreement

On December 20, 2012, the Company entered into a consulting agreement with Parte to provide marketing and business development services. Parte is to be compensated $4,000 per month for its services. The Company compensated Parte $24,808 under this agreement during the period January 1, 2013 through June 30, 2013.

Office Lease

The Company subleases its office space on a month-by-month basis from a non-profit organization affiliated with the Company’s largest shareholder. Monthly rental amounts are adjusted based on occupancy. At June 30, 2013 the monthly rental amount was $4,500

Rent expense under the lease for the six months ended June 30, 2013 and 2012 was $13,500 and $6,267, respectively.

Related Party Sales

During the six months ended June 30, 2013 and 2012 the Company recognized revenue from product sales to a related party in the amount of $3,920 and $4,800, respectively. The outstanding accounts receivable balance from this related party as of June 30, 2013 and December 31, 2012 was $8,353 and $9,488, respectively.

Related Party Advances

As of June 30, 2013 and December 31, 2012 the Company was indebted to a related party in the amount of $0 and $450, respectively. During the six months ended June 30, 2013 the $450 advances were repaid.

- 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.

+ References+ Details

Playbutton Acquisition Corp. 10-Q/A