XML 23 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
7. Related Party Transactions
9 Months Ended
Sep. 30, 2017
Related Party Transactions [Abstract]  
Related Party Transactions

In August 2013 our founder, former officer and director, and significant shareholder, Marty Weigel, loaned us $9,000 to fund the start-up of our initial operations. Mr. Weigel has agreed to not accrue interest on the loan and has informally agreed to defer re-payment of the loan until such time as we have acquired a more stable source of funding.

 

During the period ended September 30, 2017, we paid Ingenium Accounting Associates, an accounting Firm controlled by Marty Weigel, $16,009 to settle the total balance owed as of December 31, 2016 related to payments made on our behalf to maintain our regulatory filings with the State of Nevada, and pay for operating expenses.

 

As of September 30, 2017, we owed Mr. Kersey, our Chief Executive and Financial Officer, $13,914 for administrative and travel expenses paid on our behalf. During the period ended September 30, 2017, we repaid Mr. Kersey $24,500 related to expenses paid by him on our behalf, of which were incurred since his appointment. Mr. Kersey has agreed to defer repayment of the currently outstanding obligations until the Company’s cash resources significantly increase.