Related Party Transactions

9 Months Ended

Dec. 31, 2014

Related Party Transactions

Related Party Transactions

Note 9 – Related Party Transactions

Related parties

Related parties with whom the Company had transactions are:

Related Parties	Relationship
George Blankenbaker	President and significant stockholder of the Company
Leverage Investments, LLC	An entity owned and controlled by the president and significant stockholder of the Company
Technew Technology Limited	Non-controlling interest holder
Growers  Synergy Pte Ltd.	An entity owned and controlled by the president and significant stockholder of the Company
Guangzhou Health Technology Development Company Limited	An entity owned and controlled by Non-controlling interest holder

Advances from Stockholder

From time to time, stockholder of the Company advances funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and due on demand.

Lease of Certain Office Space from Leverage Investments, LLC

The Company leases certain office space with Leverage Investments, LLC for $500 per month on a month-to-month basis since July 1, 2011 which was subsequently increased to $600 per month as of July 1, 2013.  The Company recorded $5,400 and $5,400 in rent expense for the reporting period ended December 31, 2014 and 2013, respectively.

Farm Management and Off-Take Agreement with Growers Synergy Pte Ltd.

On November 1, 2011, the Company entered into a Management and Off-Take Agreement (the “Management Agreement”) with Growers Synergy Pte Ltd. (“GSPL”), a Singapore corporation.  Under the terms of the Management Agreement,  the Company will engage GSPL to supervise the Company’s farm management operations, recommend quality farm management  programs for stevia cultivation, assist in the hiring of employees and provide training to help the Company meet its commercialization  targets, develop successful models to propagate future agribusiness services, and provide back-office and regional logistical support for the development of proprietary stevia farm systems in Vietnam, Indonesia and potentially other countries. GSPL will provide services at $20,000 per month for a term of two (2) years from the date of signing, expiring on November 1, 2013.  The Management Agreement may be terminated by the Company upon 30 day notice.  In connection with the Management Agreement, the parties agreed to enter into an off-take agreement whereby GSPL agreed to purchase all of the non-stevia crops produced at the Company’s GSPL supervised farms.

On October 31, 2013 ("Effective Date"), the Company extended the Management and Off-Take Agreement (the “Management Agreement”) with GSPL with the same terms and conditions for a period of two (2) years ("Term") from the Effective Date, expiring October 31, 2015, and shall automatically be extended for a subsequent period of one (1) year expiring October 31, 2016 ("Extended Term") unless earlier terminated in writing.

Farm management services provided by Growers Synergy Pte Ltd. were as follows:

	For the reporting period ended December 31, 2014		For the reporting period ended December 31, 2013
Farm management services – related parties	$	180,000	$	180,000
	$	180,000	$	180,000

Future minimum payments required under this agreement were as follows:

Fiscal Year Ending March 31:
2015 (remainder of the fiscal year)	$	60,000
2016		240,000
2017		140,000
	$	460,000