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RELATED PARTY TRANSACTIONS
12 Months Ended
May 31, 2012
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS
NOTE 5 - RELATED PARTY TRANSACTIONS
 
The Company was indebted to R. Thomas Kidd, the Company's previous Chief
Executive Officer and sole Director, and his wife, in the amount of $929,736,
which was not interest bearing and was due on demand. Pursuant to an Asset
Purchase Agreement executed on March 5, 2012, this debt was extinguished as part
of the consideration paid for the sale of certain assets of the Company's wholly
owned subsidiary, Armada/The Golf Championships.
 
On February 29, 2012 the Company executed a Memorandum of Agreement with Xiamen
Tiauyang Neng Gongsi and Michael Franklin related to the acquisition of certain
exclusive worldwide licensing and joint patent rights.
 
On May 25, 2012, the Company entered into an employment agreement with an
effective date of June 1, 2012 with its newly appointed President, R. Brentwood
Strasler, for a period of no less than three years. Mr. Strasler is entitled to
an annual salary of $150,000 and 100,000 stock purchase warrants exercisable to
purchase common shares of the Company at $1.00 per share. The warrants are
exercisable for a three year period and can be vested quarterly on a pro rata
basis over twelve months from the date of issue. Additionally, Mr. Strasler will
be enrolled in a long term Executive Option Plan no later than three months
after the effective date of the employment agreement and is entitled to term
life insurance in the face amount of $2,500,000, payable to the beneficiary
designated by Mr. Strasler. The warrants awarded will be valued in accordance
with ASC 718-10-30-9, Measurement Objective - Fair Value at Grant Date. The
Company estimates fair value of the award using the Black-Scholes option pricing
model. Since the effective date of the grant is June 1, 2012, the Company did
not realize or record an estimated fair value of the warrants and therefore
there is no impact to the financial statements for the fiscal period ending May
31, 2012.
 
The Company is indebted to Michael Franklin, previously President of our wholly
owned subsidiary Solawerks, Inc., in the amount of $1,000 for monies advanced to
the Company. This loan is non-interest bearing and payable upon demand.