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EXCEL - IDEA: XBRL DOCUMENT - Your Event, Inc.Financial_Report.xls
10-K - Your Event, Inc.ayevn10k.htm
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EX-32.1 - SECTION 906 CERTIFICATION - Your Event, Inc.ex321sec906.htm
EX-31.1 - SECTION 302 CERTIFICATION - Your Event, Inc.ex311sec302.htm
EX-31.2 - SECTION 302 CERTIFICATION - Your Event, Inc.ex312sec302.htm
EX-32.2 - SECTION 906 CERTIFICATION - Your Event, Inc.ex322sec906.htm
EX-23.1 - CONSENT OF AUDITOR - Your Event, Inc.ex231consent.htm
v2.4.0.6
Related Party Transactions
12 Months Ended
Aug. 31, 2012
Notes to Financial Statements  
Related Party Transactions

NOTE 6. RELATED PARTY TRANSACTIONS

 

The Company received funding from its former majority stockholder to fund the operating costs of the Company. Advances received from this stockholder amounted to $524,501 and $0 as of August 31, 2012 and 2011, respectively. The debt is due upon financial stability and ability to cash flow payments. Management considers full amount owed noncurrent as of August 31, 2012.

 

The Company has a balance due to an officer of $125,818 and $0 as of August 31, 2012 and 2011, respectively. The funds were used to incorporate a wholly-owned subsidiary, YEVN JAPAN, Inc., in Japan on September 3, 2012.

 

During the year ended August 31, 2012, the office space had been provided without charge by Infinity, which was the former major shareholder of the Company until its common shares were sold on August 1, 2012. Prior to this, office services were provided without charge by a former director.

 

On August 1, 2012, Masaya Konishi, CEO and Director of the Company, purchased 6,548,993 shares from its former majority stockholder for an aggregate purchase price of $383,000 USD (30,000,000 JPY) in a private transaction.

 

Subsequent to August 31, 2012, the Company’s directors, Gaku Uehara, President, and Masatoshi Suga, CFO, purchased a total of 960,000 shares of common stock (480,000 shares each) at $240,000. See more detail in Note 11.

 

Subsequent to August 31, 2012, Masaya Konishi, CEO and Director of the Company, transferred 80,000 shares, 60,000 shares, and 60,000 shares of common stock to three individuals in a private transaction. See more detail in Note 11.