Related Party Transactions

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Text Block]

3.	Related Party Transactions
	As of June 30, 2012, the Company has loans from Navitex Technology, Inc., a company which is controlled by one of the stockholders of the Company, with an outstanding balance of $8,828. These loans have no fixed terms of repayment, are unsecured, and bear no interest. During the three months ended June 30, 2012 and 2011, the Company imputed interest on these loans of $906 and $651, respectively.
	On the above transaction, the Company imputed interest at a rate of 16.67% which is comparable to past borrowings. (See Note 4(d))
	In June 30, 2012 the officer and director forgave $6,726 of advances. The total forgiveness of debt was recorded as additional paid in capital in 2012. (See Note 4(d)).