On August 22, 2011, the Company issued
10,000,000 shares of its restricted common stock to its two officers and directors for cash totaling $10,000 or $0.001 per share.
On October 26, 2011, Mr. J. Duncan, CEO, CFO and Director tendered his resignation for all aforementioned positions effective immediately.
In addition, Mr. S. Mullin, COO and Secretary also tendered his resignation effective immediately. Prior to the resignation of
Mr. J. Duncan, the board appointed Mr. I. Johnson to act as President, Chief Executive Officer, Chief Financial Officer, Secretary
and Treasurer of the Company. In connection with the resignations of Messers Duncan and Mullin, each elected to sell their
respective restricted common shares of the Company totaling 10,000,000, to Mr. I. Johnson.
On September 1, 2011, the Company entered
into an Aircraft Use/Management Agreement with Elite Aviation VGT, LLC (Elite) Mr. Ian Johnson, our sole officer
is an employee of Elite. The term of the agreement is on a month to month basis with a ninety-day notification period for termination.
Elite is wholly owned by the Companys former officers. Pursuant to the agreement, Elite has the authority to utilize the
Companys Robison R44 helicopter in its ordinary course of business for rental and training purposes in exchange, Elite agrees
to provide hanger storage and maintenance services at industry standard rates. In addition, Elite Aviation VGT, LLC (Elite),
through their industry experience and contacts, assisted the Company in locating the R44 Raven. Elite also introduced the Company
to various lenders, one of which subsequently provided the financing for the acquisition of the aircraft. The Company may seek
Elites assistance in connection the future purchase and/or financing of an additional aircraft.
The initial end user rental rate is estimated
to be $380 per Hobbs hour regular rate and $360 per Hobbs hour block rate. Elite has the authority to adjust the end user rental
rate from time to time to allow for fluctuations in operating costs. During the year ended August 31, 2012 the Company recognized
an average rental rate was $341. All repairs are at the Companys expense and billed by Elite at a rate congruent with the
average local rate. Parts required to be purchased by Elite for repair and maintenance are charged back to the Company. In addition,
the Company is responsible for payment of all debt service, applicable property and other taxes, license and registration fees;
hangar parking rate of $350 per month; fuel and regular operating oil, calculated using the actual VGT field delivery rate of Elite.
Management fees are paid as a percentage of gross revenue based upon the billable Hobbs hours each month as follows: 1) 0 to 10
hours =15% of gross revenue, 2) 11 to 25 hours =17%, and 3) 26 + hours =19%. During the year ended August 31, 2012, the Company
recorded revenue of $112,786 as a result of its agreement with Elite. The related costs incurred for the year totaled $83,249 which
is comprised of aircraft fees of $36,186, fuel $27,270 and management fees totaling $19,793.