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Note 3 - Related Party
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9 Months Ended |
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May 31, 2012
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| Related Party Transactions Disclosure [Text Block] |
Note
3 – Related Party
Transactions
During
the year end August 31, 2011, the Company received an
unsecured loans of $9,214, due on demand, bearing interest at
8%, from the Company’s CEO, Gerald Ricks.
During
the year end August 31, 2011, the Company received an
unsecured loans of $11,140, due on demand, bearing interest
at 8%, from a major shareholder, BK Consulting, to fund
operations.
As
of May 31, 2012, the Company has outstanding unsecured
loans in the amount of $5,445, due on demand, bearing
interest at 8%, from the Company’s former CEO, Robert
Timothy.
On
September 19, 2011, the Company received an unsecured loan
of $11, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks. This loan was
repaid on December 1, 2011.
On
October 25, 2011, the Company received an unsecured loan of
$25, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks.
On
November 25, 2011, the Company received an unsecured loan of
$2,100, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks.
On
December 1, 2011, the Company received an unsecured loan of
$4,800, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks
On
December 28, 2011, the Company received an unsecured loan of
$55, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks
On
January 1, 2012 the Company received an unsecured loan of
$1,800, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks
On
January 20, 2012 the Company received an unsecured loan of
$1,300, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks
On
February 22, 2012 the Company received an unsecured loan of
$25, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks
On
April 12, 2012 the Company received an unsecured loan of
$3,200, due on demand, bearing interest at 8%, from the
Company’s CEO, Gerald Ricks
On
April 26, 2012 the Company received an unsecured loan of
$275, due on demand, bearing interest at 8%, from a major
shareholder, BK Consulting, to fund operations.
Change
in Management
On
December 15, 2010, the former CEO, Robert Timothy, resigned
as from the Board of Directors and his position as CEO, and
appointed Gerald Ricks as the Chairman of the Board of
Directors and CEO.
On
December 30, 2010, the Board of Directors dismissed Ronald
Schuurman as Secretary and Treasurer and appointed Vincent
Kelly to the Board and positions of Secretary and
Treasurer.
On
December 31, 2010, the Board of Directors appointed James
Hughes to the Board of Directors.
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