8. Significant Transactions With Related Parties

12 Months Ended

Dec. 31, 2012

Notes

8. Significant Transactions With Related Parties

8.  SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

The Chief Executive Officer (CEO) and two Directors have acquired 72% of the outstanding common stock of the Company. During the three months ended March 31, 2012, the Company received loans from the CEO and Directors in the amount of $7,390 and repaid prior loans of $787. From inception (April 22, 1997) to December, 31, 2012, net loans from the CEO and Directors are $52,756, which are payable on demand.

As of January 1, 2012, the Company’s Board of Directors approved a modification of the terms of these loans to include an annual, simple interest rate of 4%. Related interest expense for the twelve months ended December 31, 2012 was $1,902.