Related Party Transactions

12 Months Ended

May 31, 2013

Notes to Financial Statements

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. Xiamen has granted an exclusive worldwide license and joint patent rights to the Company for a solar charging case for IPAD, including IPAD 3. The Company will amortize the license fee of $10,000 over a period ending December 31, 2018.

On May 25, 2012, the Company entered into an employment agreement 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 Company is indebted to Michael Franklin, 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.