Related Party Transactions

9 Months Ended

Sep. 30, 2012

Related Party Transaction

Related Party Transactions Disclosure

Matsack Nominees Limited (Matsack), a shareholder of ECL, has an $82,741 (€64,000) Euro denominated non-interest bearing loan payable on demand to Eaton.

ECL has a $31,028 (€24,000) Euro denominated non-interest bearing loan payable on demand to Matsack.

ECL's initial investment in 1 Ordinary Share of Abeiron II was recorded at a cost of $1.00, which equaled the par value of $1.00 per share on May 18, 2012, the date the beneficial interest in such share was received from Matsack, based on Matsack's cost to acquire such share on that same date.

On May 19, 2012, the Ordinary Share of Abeiron II was subdivided into 100 shares with a par value of $0.01 per share.

For additional information on related party transactions, see Note 5, Shareholders' Deficit, and Note 7, Subsequent Events.