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Related Party Transactions with Initial Shareholder Group
12 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Note 5 - Related Party Transactions with Initial Shareholder Group

Consulting fees payable to officers and shareholder

 

During the years ended September 30, 2016 and 2015, the Company incurred $92,155 and $46,500 of consulting fees which are payable to two officers and to two shareholders of the Company. Consulting fees payable to these officers and shareholder at September 30, 2016 and 2015 were $99,865 and $176,006, respectively.

 

Payable to shareholder

 

During the year ended September 30, 2015, a shareholder paid some professional fees incurred by Company which totaled $49,110. Payable to shareholder totaled $74,110 and $74,110 at September 30, 2016 and 2015, respectively.

 

Short-term loan payable to officer

 

During the year ended September 30, 2016, an officer advanced the Company $27,253. The payable to the officer totaled $53,154 and $25,901 at September 30, 2016 and 2015 respectively.