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NOTE 3 - RELATED PARTY TRANSACTIONS
12 Months Ended
Jan. 31, 2014
Related Party Transactions [Abstract]  
NOTE 3 - RELATED PARTY TRANSACTIONS

NOTE 3 - RELATED PARTY TRANSACTIONS

 

During the twelve months ended January 31, 2014 and January 31, 2013, the Company recognized a total of $6,000 for donated rent and services provided by the President and Director of the Company.

In the previous year ended January 31, 2013, Affinity Mediaworks had incurred liabilities to Cortland Communications, LLC in the amount of $8,202. Mark Gleason is the President of both Affinity Mediaworks Corp. and Cortland Communications, LLC, a majority shareholder in Affinity Mediaworks Corp. The promissory notes bear simple interest at 15% per annum. On July 12, 2013, in exchange for notes payable and accrued interest of $16,098 as of that date, 73,549 shares of common stock were issued to Cortland Communications, LLC. The stock was valued based on fair market closing price on the date of the grant. The Company had a loss on debt conversion of $1,693,902 related to this stock transaction. As of January 31, 2014, Affinity Mediaworks incurred new liabilities to Cortland Communications, LLC in the amount of $1,600. The promissory notes bear simple interest at 15% per annum. Affinity Mediaworks Corp. currently owes Cortland Communications, LLC $1,600 in principal on these notes, with interest accrued of $69.

 

During the twelve months ended January 31, 2014 and January 31, 2013, Affinity Mediaworks Corp. has incurred liabilities to Lyboldt-Daly, Inc. in the amount of $4,500 and $3,000, respectively. Lyboldt-Daly completed bookkeeping and internal accounting for Affinity Mediaworks Corp. Joseph Passalaqua is the President of Lyboldt-Daly, Inc. and the Secretary of Cortland Communications, a majority shareholder in Affinity Mediaworks Corp. As of January 31, 2014, Affinity Mediaworks Corp. has total liabilities owed to Lyboldt-Daly, Inc. in the amount of $7,500.

 

As of January 31, 2014, all activities of Affinity Mediaworks Corp. have been conducted by corporate officers from either their homes or business offices. Currently, there are no outstanding debts owed by Affinity Mediaworks Corp. for the use of these facilities and there are no commitments for future use of the facilities.