XML 42 R15.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS	3 Months Ended
Sep. 30, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 10 – RELATED PARTY TRANSACTIONS On December 15, 2013, the Company entered into a consulting agreement with Mr. Anast for the provision of services to the Company as Secretary and management consultant. Under the terms of the consulting agreement, Mr. Anast agreed to provide a minimum of 40 hours per month to the Company’s business operations. The contract is for a term of three years commencing on December 15, 2013 for a monthly consulting fee of $5,000 per month, of which a total of $2,000 is payable and $3,000 per month is to be accrued monthly. Effective May 1, 2014 it was agreed that Mr. Anast would be paid $3,000 per month and $2,000 would be accrued as a result of increased hours required to be devoted to corporate efforts. During the three month period ended September 30, 2015 Mr. Anast invoiced the Company a total of $15,000 of which a total of $6,000 was accrued. As at September 30, 2015 a total amount of $50,740 (June 30, 2015 - $44,740) is payable to Mr. Anast in respect of the services accrued.

RELATED PARTY TRANSACTIONS

3 Months Ended

Sep. 30, 2015

NOTE 10 – RELATED PARTY TRANSACTIONS

On December 15, 2013, the Company entered into a consulting agreement with Mr. Anast for the provision of services to the Company as Secretary and management consultant. Under the terms of the consulting agreement, Mr. Anast agreed to provide a minimum of 40 hours per month to the Company’s business operations. The contract is for a term of three years commencing on December 15, 2013 for a monthly consulting fee of $5,000 per month, of which a total of $2,000 is payable and $3,000 per month is to be accrued monthly. Effective May 1, 2014 it was agreed that Mr. Anast would be paid $3,000 per month and $2,000 would be accrued as a result of increased hours required to be devoted to corporate efforts. During the three month period ended September 30, 2015 Mr. Anast invoiced the Company a total of $15,000 of which a total of $6,000 was accrued. As at September 30, 2015 a total amount of $50,740 (June 30, 2015 - $44,740) is payable to Mr. Anast in respect of the services accrued.

- Definition

The 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.

+ References + Details