Note 8- Related Party Transactions

9 Months Ended

Sep. 30, 2012

Notes

Note 8- Related Party Transactions

Note 8- Related Party Transactions

The following transactions with related parties were in the normal course of operations and were measured at the exchange value which represented the amount of consideration established and agreed to by the parties.

During the nine months ended September 30, 2012, the Company issued 7,571,117 shares of common stock as compensation to directors and officers of the Company. As of September 30, 2012, an additional 695,630 shares of common stock are due to be issued to directors and officers of the Company. Stock-based compensation of $66,085 was recorded in relation to these shares, and is presented within consulting fees on the statement of operations.

On September 25, 2012, the Company issued 400,000 flow-through shares of common stock at a price of $0.10 per share to an officer of the Company for proceeds of $40,000 cash.