Related Party Disclosures

3 Months Ended

Sep. 30, 2011

Related Party Disclosures:

Related Party Transactions Disclosure

8.  Related Party Transactions

On August 9, 2007, the Company entered into a Capital Base Funding Agreement with its largest single shareholder, Big Eye Capital, Inc. (“Big Eye”) whereby Big Eye would make available to the Company up to one hundred thousand dollars ($100,000) in working capital in exchange for newly issued common stock of the Company. The amount of common stock of the Company to be issued to Big Eye would be based on the greater of the previous day’s closing market prices or $1.00 per share. The agreement has been extended by Big Eye indefinitely and the total available capital was increased to $150,000. 

In connection with the Capital Base Funding Agreement, Big Eye Capital, Inc. provided a total of $51,046 of funding to the Company in 2007 resulting in Big Eye Capital, Inc. being issued 51,046 shares of the Company’s common stock.  During the three months ended September 30, 2011, Big Eye Capital provided an additional $54,200 of funding in exchange for stock subscribed at $1.00 per share. As at September 30, 2011 there remains $44,754 of capital available under this agreement.