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Note 6 - Related Party Transactions
12 Months Ended
Dec. 31, 2017
Notes  
Note 6 - Related Party Transactions

NOTE 6 - RELATED PARTY TRANSACTIONS

 

The Company neither owns nor leases any real or personal property. The officers and directors for the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interest. The Company has not formulated a policy for the resolution of such conflicts. The Chief Financial Officer allows the use of his residence as an office for the Company at no charge.

 

The Company received advances from related parties totaling $8,030 and $14,880 and were repaid $19,415 and $0 during the years ended December 31, 2017 and 2016, respectively. Additionally, the Company recorded forgiveness of related party loans to additional paid in capital totaling $9,100 during the year ended December 31, 2017. The advances from related parties are not convertible, bear no interest and are due on demand. There was $0 and $17,855 due to related parties as of December 31, 20167 and 2016, respectively.

 

During the year ended December 31, 2017, the Company made advances to related parties of $445 which were repaid during the same year. The advances are non-interest bearing and due on demand. There was $0 due from related parties as of December 31, 2017and 2016, respectively

 

During the year ended December 31, 2017, the majority owners of the Company sold their stock in a private transaction to AEI Acquisition Company, LLC. Immediately after the close of the transaction, AEI Acquisition Company owned 93% of the issued and outstanding shares of the Company.

 

During the year ended December 31, 2017, the Company converted existing notes payable due to AEI Acquisition Company of $87,366 to a convertible credit line. See Note 8 – Convertible Credit Line Payable – Related Party