XML 20 R9.htm IDEA: XBRL DOCUMENT v3.6.0.2
RELATED PARTY
3 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
NOTE 4 - RELATED PARTY

During the quarter ended December 31, 2016, an officer and director of the Company paid $3,000 of operating expenses on behalf of the Company. As of December 31, 2016 and September 30, 2016, the total amount due to the officer and director is US$ 22,023 and 19,023, respectively. The funds are unsecured, payable on demand, and bear no interest.

 

On December 1, 2014, the Company issued to a related party, who is an officer and director of the Company, a convertible note for US$ 2,079 (CAD $2,800). The note bears an interest rate of 5% per annum and matures on December 31, 2015. The note holder may until the date of maturity convert the principal and accrued interest into common stock of the Company at the rate of $0.025 CAD per share. The note is in default. The Company by resolution has elected to allow conversion of any and all the notes outstanding principal and interest until the note is fully paid.

 

Our operations are currently being conducted out of the premises at 14890 66a Ave., Surrey, B.C. V3S 9Y6 Canada. Mr. Sangha makes these premises available to us rent-free. We consider our current principal office space arrangement adequate and will reassess our needs based upon the future growth of the Company.