6. Related Party Transactions Not Disclosed Elsewhere
Due Related Parties: Amounts due related parties consist of corporate reinstatement expenses and prior obligations paid or assumed by affiliates prior to the establishment of a bank account. Such items totaled $37,807 at October 31, 2012. Legal services provided to the company by Laura Anthony through Legal & Compliance, LLC (Michael Anthonys spouse) were valued at $10,000 per year of which $29,000 was unpaid at October 31, 2012.
Fair value of services: The principal stockholder provided, without cost to the Company, his services, valued at $1,800 per month which totaled $ 5,400 and $5,400 for the three and six months ended October 31, 2012 and 2011. The principal stockholder also provided, without cost to the Company, office space valued at $200 per month, which totaled $600 for each respective period. The total of these expenses was reflected in the statement of operations as general and administrative expenses with a corresponding contribution of paid-in capital.