XML 43 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
NOTE 10 - RELATED PARTY TRANSACTIONS
6 Months Ended
Oct. 31, 2013
Related Party Transactions [Abstract]  
NOTE 10 - RELATED PARTY TRANSACTIONS

NOTE 10 – RELATED PARTY TRANSACTIONS

 

On June 24, 2011, officers-directors purchased 2,000,000 common shares, at a price of $0.01 per share at a total price of $20,000.

 

On May 26, 2013, Alexander Farquharson, our President, Secretary, Director, purchased 1,000,000 shares of Company stock from former Treasurer and Director for $10,000 USD in a private transaction. President Farquahrason used his personal funds to pay for the stock. As a result of this stock acquisition, President Farquharson is now the sole holder of 68% of the issued and outstanding stock of the Company, and is thus the sole controlling shareholder.

 

The Company neither owns nor leases any real or personal property. An officer has provided office space without charge. Rental costs have been included in the financial statements as additional paid-in capital. Rent expense was $900 and $1,800 for the three and six months ended October 31, 2013, respectively.

 

The officers and directors are currently involved in other business activities and most likely will become involved in additional business activities in the future.

 

Advances from stockholders

 

From time to time, stockholders of the Company advance funds to the Company for working capital purposes. Those advances are unsecured, non-interest bearing and due on demand.

 

Stockholders of the Company advanced $3,278 in aggregate to the Company for working capital purposes during the year ending April 30, 2013, respectively. On July 25, 2011 former shareholders agreed to forgive debts outstanding to them totaling $3,278 which have been recorded as contributed capital.

 

An officer, who is also a principle shareholder of the Company advanced $18,173 in aggregate to the Company for working capital purposes at October 31, 2013.