RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2013

RELATED PARTY TRANSACTIONS [Text Block]

5. RELATED PARTY TRANSACTIONS

During the year ended May 31, 2007, former officers of the Company contributed administrative services to the Company valued at $50 and were recorded as capital contribution in the year.

In April 2006 we issued a total of 6,000,000 shares of restricted common stock to our former director, Jerry Satchwell, for $6,000 ($0.001 per share) as founder shares. (see Note 4).

As of December 31, 2012, advances from stockholders were $80,159. During the nine months ended September 30, 2013, a stockholder provided advances of $55,768 to finance our working capital requirements. In March 2013, three stockholders forgave advances made by them in prior years amounting to $38,668, which have been reflected as capital contribution. As of September 30, 2013, advances from stockholders amounted to $97,259. These advances are unsecured, due on demand, and non-interest bearing.

During the three months and nine months ended September 30, 2013 and 2012, the Company’s office facility has been provided without charge by the Company’s major stockholders. Such cost was not material to the financial statements and accordingly, has not been reflected therein. In view of the Company’s limited operations and resources, the major stockholders did not receive any compensation from the Company during the three months and nine months ended September 30, 2013 and 2012.