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Note 4 - Related Party Transactions
3 Months Ended
Aug. 31, 2017
Notes  
Note 4 - Related Party Transactions

NOTE 4. RELATED PARTY TRANSACTIONS

 

On May 31, 2012, ACI made a non-interest bearing, unsecured loan to the Company in the amount of $30,000, due on May 31, 2020. On December 18, 2012, ACI made another non-interest bearing, unsecured loan to the Company in the amount of $20,000, due on Deecmber 18, 2019.

 

On May 16, 2013, ACI made a non-interest bearing, unsecured loan to the Company in the amount of $5,000, due on May 16, 2020. On November 4, 2013, ACI made a non-interest bearing, unsecured loan to the Company in the amount of $10,000, due on November 4, 2017.

 

During 2013, American Compass Inc. (“ACI”), a related party based upon the beneficial ownership of the Company held by certain key management of ACI, paid $28,859 in legal fees and $5,000 in auditing fees on behalf of the Company. As of November 30, 2013, ACI paid a total of $33,859 in legal and auditing fees on behalf of the Company, due upon request.

 

On April 17, 2014, ACI made a non-interest bearing, unsecured loan to the Company in the amount of $10,000, due on April 17, 2018. On June 30, 2014, ACI made a non-interest bearing, unsecured loan to the Company in the amount of $10,000, due on June 30, 2018. On November 19, 2014, ACI made a non-interest bearing, unsecured loan to the Company in the amount of $10,000, due on November 19, 2019.

 

On February 4, 2015, June 24, 2015, September 30, 2015, October 21, 2015 and November 18, 2015, ACI made non-interest bearing, unsecured loans to the Company in the amounts of $10,000, $10,000, $10,000, $10,000 and $20,000, respectively, due on February 4, 2020, June 24, 2020, September 30, 2017, October 21, 2017 and November 18, 2017, respectively.

 

On January 23, 2017 and May 9, 2017, ACI made a non-interest bearing, unsecured loans to the Company in the amounts of $10,000 and $10,000, respectively, due on January 23, 2020 and May 9, 2020, respectively.

 

As of August 31, 2017, the total balance due to ACI is $208,859.