NOTE 5 - RELATED PARTY TRANSACTIONS
Related party payable consists of amounts owing for executive compensation and loans. The amounts are non-interest bearing and due on demand.
As of June 30, 2012, a total of $[17,625 was paid by a related party for the executive's compensation and travel expenses. On December 4, 2012, this payable was cancelled with the consent of the former executive and was recognized as capital contribution from the shareholder during the period ended December 31, 2012.
During the period ended December 31, 2012, a shareholder advanced $8,454 to the Company for legal services. This amount is payable on demand and bear no interest.
Outstanding balances at December 31, 2012 and June 30, 2012 was $8,454 and $[»17,625 respectively