2.4.0.8112 - Disclosure - AFFILIATE TRANSACTIONtruefalsefalse1falsefalsefalseeol_PE793818--1310-Q0005_STD_273_20130731_0http://www.sec.gov/CIK0001450708duration2012-11-01T00:00:002013-07-31T00:00:001false4us-gaap_RelatedPartyTransactionsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
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AFFILIATE TRANSACTIONS</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> </div>
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company entered into an agreement with AXIS Consultants Pty Ltd
(“AXIS”) to provide management and administration
services to the Company. AXIS is affiliated through common
management. The Company is one of ten affiliated companies to which
AXIS provides services. Each of the companies has some common
Directors, officers and shareholders. Currently, there are no
material arrangements or planned transactions between the Company
and any of the affiliated companies other than AXIS.</font></div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> </div>
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">During
the nine months ended July 31, 2013, AXIS provided services in
accordance with the services agreement, incurred direct costs on
behalf of the Company and provided funding of $1,131,586. In
addition, the Manager of the Laos operations advanced the Company
$59,000. The Company realized a foreign currency gain of $897,837
on loans from affiliates as a result of the fluctuations of the
Australian dollar versus the US dollar during the nine months ended
July 31, 2013. The amounts owed to affiliates as of July 31, 2013
and October 31, 2012 were $6,922,946 and $6,630,197 respectively
and are reflected in non-current liabilities - advance from
affiliates. Included in these amounts at July 31, 2013 and October
31, 2012 is $232,500 and $173,500 respectively being funds advanced
by the Manager of the Laos operations. During the three and nine
months ended July 31, 2013 and 2012, the affiliates did not charge
interest.</font></div>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> </div>
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company intends to repay these amounts with funds raised either via
additional debt or equity offerings. Both affiliates have agreed
not to call the advance within the next twelve months and
accordingly the Company has classified the amounts payable as
non-current in the accompanying balance sheet.</font></div>
</div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864
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-Number 210
-Section 04
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