NOTE 5 – RELATED PARTY
On November 1, 2010, the
Company entered into a three-year consulting agreement with Rick Walchuk, a director and officer of the Company. Under the terms
of the agreement, Mr. Walchuk was paid $2,500 a month, which increased to $4,000 a month commencing June 1, 2012, payable on the
1st of each month, pursuant to the services to be rendered by Mr. Walchuk. During the twelve month period ended August 31, 2012,
Mr. Walchuk invoiced the Company $51,506, which included $34,500 as management fees and $17,006 for expenses. The Company made
cash payments to pay these amounts in full.
On December 23, 2010, the
Company’s then sole director, Rick Walchuk cancelled and returned to treasury 5,000,000 post-split common shares.
On January 30, 2012, Mr.
Alexandros Tsingos, was appointed a director and Secretary of the Company. During the period ended August 31, 2012, Mr. Tsingos
invoiced the Company $12,500, which included $10,500 as management fees and $2,000 for expenses. The Company made cash payments
to pay these amounts in full.