Note 9- Related Party Transactions

12 Months Ended

Dec. 31, 2012

Notes

Note 9- Related Party Transactions

Note 9- 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.

For the year ended December 31, 2012, the Company issued 2,302,138 shares of common stock as compensation to directors and officers of the Company. As of December 31, 2012, an additional 4,975,218 shares of common stock are due to be issued to directors and officers of the Company. Stock-based compensation of $263,500 was recorded in relation to these shares, and is presented within management fees and consulting fees on the statement of operations.

On September 25, 2012, the Company issued 133,333 flow-through shares of common stock at a price of $0.30 per share to an officer of the Company for proceeds of $40,000 cash.