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4. Related Party Transactions
3 Months Ended
Mar. 31, 2014
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

On December 15, 2006 the Company issued 105,000,000 shares of its common stock at $0.0000666 per share to the sole member of the Company’s Board of Directors and President of the Company for cash proceeds of $7,000. On May 12, 2008 the Company issued 45,000,000 shares of its common stock at $0.0000666 per share to the sole member of the Company’s Board of Directors and President of the Company for cash proceeds of $3,000. During the nine months ending September 30, 2012 the President of the Company paid outstanding payables owed by the Company of $28,400. On June 26, 2012, the President of the Company forgave all debts owing to him by the Company for all advances/shareholders loans totalling $54,742. All these sums are reflected as a credit to additional-paid-in-capital.

 

On August 15, 2012, two shareholders of the Company returned 126,000,000 (pre-split 8,400,000) restricted shares of common stock to the Company’s treasury and the shares were cancelled by the Company. The shares were returned to the Company’s treasury for no consideration to the shareholders. Following the cancellation the Company now had 33,300,000 (pre-split 2,220,000 shares of common stock outstanding.

 

On December 31, 2013 the Company repaid a shareholders loan in the amount of $4,072 owed to the President of the Company. The amounts due to the related party were unsecured and non- interest-bearing with no set terms of repayment.

 

During the three-month period ended March 31, 2014, the Company paid $2,300 in management fees.

 

See Note 6 for further discussion of related party transactions.