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4. Related Party Transactions
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9 Months Ended |
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Sep. 30, 2014
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| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
The Company entered into the following transactions with a related party:
As of the period ending September 30, 2014, the CEO has advanced $38,358 and the COO has advanced $4,536 to the Company. The advances are unsecured, non-interest bearing and are payable on demand.
Management Contracts On August 15, 2014 A-1 Group, Inc., (the Company) signed an initial two (2) year Employment Agreement with it Chief Executive Officer. The Company has agreed to a salary of $3,500 per month starting September 1, 2014 and a lump sum signing bonus of $10,000 due on August 29, 2014.
On August 15, 2014 A-1 Group, Inc., (the Company) signed an initial two (2) year Employment Agreement with it Chief Operating Officer. The Company has agreed to a salary of $3,500 per month starting September 1, 2014.
During the nine month period ending September 30, 2014, the Company accrued $17,000 in management fees of which $3,500 had been paid as of September 30, 2014. The remaining outstanding balance of $13,500 was paid subsequent to the period in October 2014. |