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Due To Related Party
12 Months Ended
Dec. 31, 2014
Due To Related Party  
Due to Related Party

NOTE 6 – DUE TO RELATED PARTY

 

As of December 31, 2014 and 2013 advances of $3,417 and $0, respectively, were due to Nadav Elituv, the Company's Chief Executive Officer and at December 31, 2014 and 2013, advances of $714 and $0, respectively were due to 2130555 Ontario Limited, a company controlled by Nadav Elituv. The advances are non-interest bearing, unsecured and have no specified terms of repayment.

 

As of December, 2014 and 2013 advances of $3,517 and $76,895, respectively, were due to Doug Clark, the Company's former Chief Executive Officer. The balance are non-interest bearing, unsecured and have no specified terms of repayment. During the year ended December 31, 2014, Doug Clark advances the Company $9,117 in cash. On June 15, 2014, Doug Clark agreed to amend the terms of due to related party with principal of $82,495. See Note 5 – Convertible Notes.

 

On December 24, 2014, the Company issued a promissory note in the amount of $4,390 to DC Design Inc., a Company controlled by Doug Clark, the Company's former Chief Executive Officer for cash received. This note is unsecured, bears no interest and is payable on demand by the note holder.