Related Party Disclosures

3 Months Ended

Jun. 30, 2012

Related Party Disclosures

Related Party Transactions Disclosure

Note 8 RELATED PARTY TRANSACTIONS

(8.A) NOTES PAYABLE - RELATED PARTY

Bernard L. Brodkorb, President of ISAT, has a Loan Agreement with ISAF issued on January 25, 2010 in the amount of $25,008 used to finance a portfolio purchase. The loan accrues interest at the rate of 11% per annum. No interest or principal payments have been paid toward the loan and the balance outstanding at June 30, 2012 is $32,584.

C. J. Newman, Vice President of Doubletree Capital Partners, Inc., has two loan agreements with ISAF issued on June 25, 2010 and August 3, 2010. Both loans are for $25,000 for a total of $50,000. The loans accrue interest at the rate of 11% per annum. No interest or principal payments have been paid toward the loan. The balance outstanding at June 30, 2012 is $61,875.

All of the above loans are distributed on the balance sheet as current liabilities for a total amount of $94,459.

(8.B) CONVERTIBLE NOTES PAYABLE - RELATED PARTY

During the quarter ended June 30, 2012, the Company received $23,878 in cash loans and advances from a related party. These advances and loans and a $20,000 management fee payable to Doubletree Capital Partners, Inc., recorded as notes payable – related party for a total of $43,878, are secured by a blanket collateral pledge of all of the Company’s assets and bear interest at the rate of 12% per annum commencing June 30, 2012 and forward until paid in full. The convertible notes payable are due and payable on demand and convertible at the option of the related party into 585,040 common shares at the rate of $.075 per share as of June 30, 2012. 

(8.C) ADDITIONAL PAID IN CAPITAL - RELATED PARTY

During the nine months ended June 30, 2012, the Company received $98,758 in cash and services through the date March 31, 2012, rendered from a related party that have been treated as contributions made to capital. Doubletree Capital Partners contributed $86,258 in cash while Doubletree Capital Partners, Inc. provided management services valued at $12,500 for which payment was forgiven to provide for the capital contribution. For the period from April 1, 2012 through June 30, 2012, the Company received $43,878 in additional monies and expense provisions that have, as of June 30, 2012, been recorded as due to related party – note payable, secured and convertible.