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EXCEL - IDEA: XBRL DOCUMENT - Thunderclap Entertainment, Inc.Financial_Report.xls
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v2.4.0.6
Related Party Transactions
9 Months Ended
Sep. 30, 2012
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 7 - RELATED PARTY TRANSACTIONS

 

 

The sole officer and director of the Company is involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, he may face a conflict in selecting between the Company and his other business interests. The Company has not formulated a policy for the resolution of such conflicts.

 

The Company’s majority shareholder is its legal counsel. In April 2011, a shareholder advanced the Company $12,000 to fund working capital expenses. This advance is unsecured and does not carry an interest rate or repayment terms; however, the shareholder has orally agreed not to seek repayment until the Company is financially able to repay it. From May 2011 to September 2011, another shareholder advanced $1,816 to fund working capital expenses. Subsequently, our majority shareholder has advanced an additional $9,311 under the same terms of which 8,662 was advanced during the nine months ended September 30, 2012. This advance is unsecured and does not carry an interest rate or repayment terms; however, the shareholder has orally agreed not to seek repayment until the Company is financially able to repay it.