On December 7, 2011, a former director of the
Company released the Company from all debt owing to him for disbursements incurred on behalf of the Company. As a result of the
release, $13,395 was forgiven and recorded in additional paid in capital. Also during the year ended December 31, 2011, a company
related to an officer of the Company forgave $5,000 used to pay for outstanding bills and the amount was recorded in additional
paid in capital.
On September 27, 2012, the Company acquired
all the issued and outstanding shares of Y Engine Developments Pty Ltd, a development stage Australian company (hereunder Y
Engine Developments), from Michael Nugent, who is also the President and a director of the Company. The Company issued one
common share to Mr. Nugent as the total aggregate consideration for Y Engine Developments.
Also see Note 4.