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4. Related Party Transactions
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
4. Related Party Transactions

Loans from Shareholder

 

During the year ended December 31, 2015, a related party assisted the Company in support of its operations by providing payments to the Company's vendors for $18,637. The Company has recorded the liability to this related party in other payables as the amounts are temporary in nature and have not been formalized by a promissory note. These amounts are considered due on demand and non-interest bearing.

 

In support of the Company's efforts and cash requirements, it is relying on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. Amounts represent advances or amounts paid in satisfaction of certain liabilities as they come due. The advances are considered temporary in nature and have not been formalized by a promissory note. Notes are considered payable on demand and is non-interest bearing. The majority shareholder has pledged her support to fund continuing operations; however there is no written commitment to this effect. The Company is dependent upon the continued support of this member.

 

We currently lease 800 square feet of office space and pay $1,500 per month in rent. Prior to the change in control and for the presented periods, we were provided office space free of charge by our officer and director. We are not required to pay for our office space in Shenzhen, China, which is provided to us free by our representative there. Rent was $0 for all periods presented.

 

The Company does not have an employment contract with its key employee, the sole shareholder who is the Chief Executive and Chief Technical Officer.

 

The amounts and terms of the above transactions may not necessarily be indicative of the amounts and terms that would have been incurred had comparable transactions been entered into with independent third parties.