4. Related Party Transactions

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

4. Related Party Transactions

Loans from Shareholder

During the six months ended June 30, 2016, a related party assisted the Company in support of its operations by providing payments to the Company's vendors and advances for operations of $284,693 and an additional $18,637 during the year ended December 31, 2015. 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, the Company is relying on advances from related parties until such time as the Company can support its operations or attains adequate financing through sales of equity or traditional debt financing. Amounts represent advances or amounts paid in satisfaction of certain liabilities as they come due. The majority shareholder has pledged their support to fund continuing operations; however, there is no written commitment to this effect.

The Company utilizes space provided by the majority shareholder without charge for certain operations.

The Company does not have an employment contract with its key employee who is the Company's Chief Executive Officer, Chief Accounting Officer, Treasurer and Secretary.

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.