Note 8 - Related Party Transactions

(1)	Convertible notes with Shareholder:

During the three months ended March 31, 2017 the Company entered into convertible loan agreements for total gross proceeds of $6,388 with a shareholder. The loans bear interest at a rate of 8% per annum and are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.30 per share. On the transaction date, the Company recognized the intrinsic value of the embedded beneficial conversion feature of $2,342 as additional paid-in capital and the debt discount was recorded as interest expense.

During the three months ended June 30, 2017 the Company entered into convertible loan agreements for total gross proceeds of $36,925 with a shareholder. The loans bear interest at a rate of 8% per annum and are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.30 per share. On the transaction date, the Company evaluated the intrinsic value of the embedded beneficial conversion feature, which was $Nil.

During the three months ended September 30, 2017 the Company entered into convertible loan agreements for total gross proceeds of $43,269 with a shareholder. The loans bear interest at a rate of 8% per annum and are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of $0.30 per share. On the transaction date, the Company recognized the intrinsic value of the embedded beneficial conversion feature of $2,884 as additional paid-in capital and the debt discount will be recorded as interest expense.

(2)	Transactions with Mr. Ruben Yakubov, President of the Company

During the nine months ended September 30, 2017 Mr. Ruben Yakubov, the Company's President and a member of the Board of Directors, invoiced $54,000 in management fees. The Company paid $36,000 in cash, leaving $18,000 on the balance sheets as due to related party.

(3)	Transactions with Danail Terziev, CEO and Director of the Company, and companies controlled by him

During the nine months ended September 30, 2017, the Company repaid an amount of $1,690, to a company controlled by our CEO, leaving $17,023 (December 31, 2016 - $18,713) on the balance sheets as advances from related party.

During the nine months ended September 30, 2017, a company controlled by our CEO further advanced $3,094 to the Company to settle certain accounts payable, leaving $6,086 (December 31, 2016 - $2,992) on the balance sheets as advances from related party.