Quarterly report pursuant to Section 13 or 15(d)

Related party transaction

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Related party transaction
12 Months Ended
Dec. 31, 2011
Related party transaction  
Related party transaction

NOTE 3                 RELATED PARTY TRANSACTIONS

 

 

                   Various founders of the Company have performed consulting services for which the Company has paid them consulting fees as voted on during the initial board of directors meeting. There were $0 and $0 paid to a related party for continuous maintenance of records during the three months ended March 31, 2012 and 2011.

 

                 The Company borrowed $6,006 and $9,351 from various related parties and shareholders of the Company for working capital purposes as of March 31, 2012 and 2011 respectively. The Company repaid $0 and $25,000 in notes payable to related parties as of March 31, 2012 and 2011 respectively.

 

                In addition, related parties assumed $10,694 in accounts payable as of March 31, 2011.