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Related Party Transactions
6 Months Ended
Jan. 31, 2015
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

6. RELATED PARTY TRANSACTIONS

 

A former officer of the Company has advanced the Company $24,747 by making payments on behalf of the Company. The full balance of $24,747 is still owed as of January 31, 2015 (July 31, 2014 - $24,747). The advance is unsecured, non-interest bearing and has no specific terms of repayment.


On August 15, 2012, the Company entered into an Independent Contractor Agreement with the Company’s newly appointed Chief Executive Officer, President and Director. The term of the agreement commenced on August 15, 2012 and goes through to August 15, 2013, unless formerly terminated. The agreement continued on a month-to-month basis until March 15, 2014. On April 24, 2014, a Settlement Agreement was entered into for a lump sum in full compensation of outstanding compensation owed to the officer to March 15, 2014. In the six months ended January 31, 2015, an additional $12,500 (January 31, 2014 - $15,000) was accrued to the officer as the full amount of the outstanding compensation owed plus monthly compensation from April to September 2014. The officer has resigned. As of January 31, 2015, $2,500 for the final month of consulting for September 2014 is still owed by the Company.