Related party transactions

12 Months Ended

May 31, 2012

Related party transactions:

Related party transactions

Note 8 - Related party transactions

On May 6, 2010, the Company issued 5,000,000 shares of its par value common stock as founders’ shares to an officer and director in exchange for cash in the amount of $20,000. 

During May 2012, the founding shareholder of the Company agreed to cancel an aggregate of $26,132 of related party notes payable owed to him by the Company.  The notes bore no interest and were due on demand.  The entire amount is considered donated capital and recorded as additional paid-in capital.

On May 29, 2012, the founding shareholder of the Company donated cash to the Company in the amount of $17.  This amount has been donated to the Company and is not expected to be repaid and is considered additional paid-in capital.

The Company does not lease or rent any property.  Office services are provided without charge by an officer and director of the Company.  Such costs are immaterial to the financial statements and, accordingly, have not been reflected therein.  The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities.  If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests.  The Company has not formulated a policy for the resolution of such conflicts.