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4. Related Party Transactions
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
NOTE 4 - Related Party Transactions

As of June 30, 2012, Sphere advanced a total of $90,000 (December 31, 2011 - $50,000) to the Company.  The advance has no repayment date and does not bear interest.

 

As of June 30, 2012, William Whitmore, the Company’s President, advanced $10,000 (December 31, 2011 - $nil) to the Company.  The advance has no repayment date and does not bear interest.

 

As of June 30, 2012, the Company has issued 50,000 shares of common stock to the Chief Financial Officer of the Company pursuant to an employment agreement.

 

These transactions are in the normal course of business and are recorded at the exchange amount, which is the consideration agreed to by the related parties.