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EXCEL - IDEA: XBRL DOCUMENT - XIANGTIAN (USA) AIR POWER CO., LTD.Financial_Report.xls
10-Q - QUARTERLY REPORT - XIANGTIAN (USA) AIR POWER CO., LTD.goas_10q.htm
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EX-32.1 - CERTIFICATION - XIANGTIAN (USA) AIR POWER CO., LTD.goas_ex32.htm
EX-31.1 - CERTIFICATION - XIANGTIAN (USA) AIR POWER CO., LTD.goas_ex31.htm
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RELATED PARTY TRANSACTIONS
3 Months Ended
Oct. 31, 2012
Notes  
RELATED PARTY TRANSACTIONS

NOTE 5 - RELATED PARTY TRANSACTIONS

 

From time to time, the Company receives advances from its related parties. As of October 31, 2012 and July 31, 2012, the Company had advances from related parties of $55,318 and $51,273, respectively, and used the funds for its operation. These advances are due on demand, unsecured and non-interest bearing.

 

The Company neither owns nor leases any real or personal property. Since the completion of its merger in May 2012, the Company uses office spaces provided by a related party free of charge. During the three months ended October 31, 2012, the Company recognized $1,500 in donated rent.