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EXCEL - IDEA: XBRL DOCUMENT - SILVER STREAM MINING CORP.Financial_Report.xls
10-K - ANNUAL REPORT FOR FISCAL PERIOD ENDED AUGUST 31, 2012 - SILVER STREAM MINING CORP.wsindustries10k2012.htm
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EX-31.1 - CEO AND CFO SOX 302 CERTIFICATE - SILVER STREAM MINING CORP.exhibit311.htm
EX-32.1 - CEO AND CFO SOX 906 CERTIFICATE - SILVER STREAM MINING CORP.exhibit321.htm
v2.4.0.6
Related Party Transactions
12 Months Ended
Aug. 31, 2012
Related Party Transactions  
Related Party Transactions

Note 6

Related Party Transactions

 

Pursuant to a resolution dated June 1, 2008, an officer of the Company who is majority shareholder of the Company is to be paid a monthly management fee of $2,600 per month. The amount may be adjusted from time to time at the discretion of the Board of Directors. During the year ended August 31, 2011, $118,300 which was accrued management fees from previous years was settled through the issuance of a convertible promissory note as described in Note 8.

 

During the year ended August 31, 2012, the company incurred management fees of $31,200 (2011: $31,200) payable to the director of the company. As at August 31, 2012, accounts payable included $36,600 (August 31, 2011 - $5,400) in management fees payable to the Director and officer of the company.

 

As at August 31, 2012, loans and advances includes an advance of $70,110 (August 31, 2011 $ - $45,000) from a director and officer of the Company.

 

Pursuant to a resolution dated June 1, 2008, the spouse of an officer of the Company is to be paid monthly to provide administrative services to the Company at a rate of $1,800 per month.  The amount may be adjusted from time to time at the discretion of the Board of Directors. During the year ended August 31, 2011, $63,000 (2010 - $Nil) in respect of these administrative fees was settled through the issuance of a convertible promissory note as described in Note 8.

 

During the year ended August 31, 2012, the Company also incurred administrative fees of $21,600 (2011- $21,600) payable to the wife of an officer of the Company. As at August 31, 2012, accounts payable included $28,800 in administrative services payable to the wife of an officer of the Company.