NOTE G RELATED PARTY TRANSACTIONS
From inception prior to the appointment of Mr. Angle, in July 2008 the former management (Mr. Lapkin) of the Company contributed a total of $5,868 in cash into the company for operating expenses. In addition, in July 2008, former management, Mr. Lapkin & Mr. Gruenbaum, agreed to assist Mr. Angle to file a registration statement, for which they were paid a total of $11,805 ($6,000 to Mr. Lapkin and $5,805 to Mr. Gruenbaum) in company stock for accounting and legal services.
In July 2008, Desmond Capital, Inc. invested $5,373 in the Company in return for 5,223,050 newly issued shares. The president of Desmond Capital is Mr. Chris Angle who is also the president of the Company. Desmond Capital has two purposes: first, to provide consulting and advice to small start up companies and second to invest in these companies to help bring capital for expansion. The Desmond Capital investment will be used for the on-going operations of the Company.
During 2010 Mr. Angle, the Companys CEO, contributed to additional paid-in capital $30 in cash for operating expenses.
During 2011 Mr. Angle, advanced the Company $140 in cash for operating expenses. The advance has no stated terms of repayment and is non-interest bearing.
During the nine months ended September 30, 2012, Mr. Angle advanced the Company $25 in cash for operating expenses. The advance has no stated terms of repayment and is non-interest bearing.