RELATED PARTY TRANSACTIONS
time to time, we contract with a company related through common ownership for building and grounds-related maintenance services.
There were no fees paid to the related company for the three months ended September 30, 2012 and 2011. For the three months ended
September 30, 2012 and 2011, we had sales of $7,873 and $8,821, respectively, to the company referred to above. As of September
30, 2012 and 2011, the related receivable was $-0- and $-0-, respectively. See also Note 7.
debt obligation in the amount of $112,711 is due and payable to a construction company owned by our President and
CEO Robert Callahan, (the Debt Holder), for services they provided to the Company, which services were rendered
and fully completed on April 1, 2011. The debt is reflected on our current Balance Sheet as a Long Term Liability in the amount
of $112,711, and was also reflected on the Balance Sheet in our Form 10-K Annual Report for the period ended June 30, 2012.
The debt has been existence on our Balance Sheet since the period ending June 30, 2011.