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EXCEL - IDEA: XBRL DOCUMENT - EARTH DRAGON RESOURCES INC.Financial_Report.xls
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EX-31.1 - CERTIFICATION - EARTH DRAGON RESOURCES INC.ex311.htm
EX-32.1 - CERTIFICATION - EARTH DRAGON RESOURCES INC.ex321.htm
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v2.4.0.6
Due to Related Parties
3 Months Ended
Aug. 31, 2011
Related Party Transactions [Abstract]  
Due to Related Parties

 

5. Due to Related Parties

Due to related parties consists of :
   
August 31, 2011
   
May 31, 2011
 
 
           
  
Compensation and expenses due Thomas Herdman (“ Herdman”), chief executive officer of the Company from September 21, 2010 to February 10, 2012
  $ 96,439     $ 51,439  
Compensation due Date Jiriicho (“ Jiriicho”),director of the Company from February 1, 2011 to February 10, 2012
    17,500       10,000  
Compensation due James Park (“ Park”), director of the Company from February 1, 2011to February 10, 2012
    12,500       5,000  
Totals
  $ 126,439     $ 66,439  
 
Under a Consultant Agreement dated September 23, 2010 with Herdman, chief executive officer of the Company from September 21, 2010 to February 10, 2012, the Company agreed to pay Herdman compensation of $15,000 per month for management services, or $124,839 for the period September 21,2010 to May 31, 2011. On October 13, 2010 and November 18,  2010, Irish Son Limited (“ISL”) paid $10,000 and $15,000, respectively, to Herdman or his designee on behalf of the Company (see Note 6). The term of the Consultant Agreement was one year; either party could terminate the agreement by giving the other party 30 days written notice.
 
Under a Consultant Agreement dated February 1, 2011 with James Park,  Mining Geologist, Director of the Company from February 1, 2011 to February 10, 2012, the Company agreed to pay Park compensation of $2,500 per month for director fees and service relating to Company joint ventures.
 
Under a Consultant Agreement dated February 1, 2011 with Date Jiriicho, Director of the Company from February 1, 2011 to February 10, 2012, the Company agreed to pay Jiriicho compensation of $2,500 per month for director fees.
 
Compensation expense to related parties for the three months ended August 31, 2011 and 2010 was $60,000 and $0, respectively.