Related Party Transactions with Initial Shareholder Group

6 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Note 5 - Related Party Transactions with Initial Shareholder Group

Consulting fees payable to officers and shareholder

During the six months ended March 31, 2016 and 2015, the Company incurred $39,408 and $35,000, respectively, of consulting fees which are payable to two officers and to one shareholder of the Company. Total consulting fees payable to these officers and shareholder as of March 31, 2016 and September 30, 2015 were $26,866 and $176,006, respectively. During the six months ended March 31, 2016, the Company converted $158,141 of the consulting fee payable to convertible notes payable to officers and shareholder.

Payable to shareholder

The payable to shareholder totaled $74,110 at March 31, 2016 and September 30, 2015.

Short term loans payable to officer

As of March 31, 2016 and September 30, 2015, officer advances to the Company totaled $34,606 and $25,901, respectively. These loans were short term, informal borrowings that are not formally documented, bear no interest, and are due on demand.