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EXCEL - IDEA: XBRL DOCUMENT - CORECOMM SOLUTIONS INC.Financial_Report.xls
10-K - FORM 10-K - CORECOMM SOLUTIONS INC.venzagold_10k-103112.htm
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EX-32 - EXHIBIT 32 - CORECOMM SOLUTIONS INC.ex32.htm
EX-31.2 - EXHIBIT 31.2 - CORECOMM SOLUTIONS INC.ex31-2.htm
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v2.4.0.6
Note 4 - Related-Party Transactions
12 Months Ended
Oct. 31, 2012
Related Party Transactions Disclosure [Text Block]
NOTE 4 – RELATED-PARTY TRANSACTIONS

The following amounts were due to related parties at October 31, 2012, and October 31, 2011:

   
October 31,
2012
   
October 31,
2011
 
             
Due to a director
  $ -     $ 76,500  
Due to a former director
    -       18,000  
Total due to related parties
  $ -     $ 94,500  

Amounts due to related parties are unsecured, are due on demand and bear no interest.

During the year ended October 31, 2012, the Company incurred $28,500 (2011- $75,435) in management fees to a director of the Company, $12,720 (2011- $1,120) in management fees to its Chief Financial Officer, and exploration expenditures of $10,000 (2011- $Nil) to a Company controlled by a director.

During the year ended October 31, 2012, the Company issued 250,000 shares to its Chief Financial Officer as a stock bonus. The fair value of the shares was $18,750 and has been recorded as management fees (Note 6).

During the year ended October 31, 2012, the Company issued 200,000 shares to one of its directors for the acquisition of mineral claims (Notes 5 and 6). The fair value of the shares was $15,000.