Related Party Transactions

9 Months Ended

Sep. 30, 2011

7.	RELATED PARTY TRANSACTIONS:

In the course of conducting its business, the Company conducted various business transactions with related parities on commercial terms.

Related parties and shareholders balances and transactions have been presented as follows:

Due from related parties		30.09.2011		30.09.2010

ASB Trading	$	0	$	6,000
Emiko Yazi Tahalari ve Egitim Gerecleri A.S.	$	0	$	536,366
Touch IT Technologies Koll. Sti.. Ronald George Murphy ve Ortaklari	$	0	$	132,236

Total	$	0	$	674,602

Due from shareholders		30.09.2011		30.09.2010


Andrew Stuart Brabin	$	0	$	10,484
Recp Tanisman	$	0	$	43,404

Total	$	0	$	53,888

Due to related parties		30.09.2011		30.09.2010


Kamron, Inc.	$	159,064	$	55,198
ASB Trading	$	106,254
TouchIT Technologies Dis Tic Koll Sirketi	$	0	$	536,366
Emko Emaye ve Yazi Tahtalari	$	0	$	534,177

Total	$	265,318	$	1,125,741

Due to shareholders		30.09.2011		30.09.2010


Ali Riza Tanisman.	$	0	$	46,230
Recep Tanisman	$	0	$	202
Andrew Stuart Brabin	$	0	$	12,809

Total	$	0	$	59,241

Major purchases from related parties		30.09.2011		30.09.2010


Touch It Technologies Koll Sti Ronald George Murphy ve Ortakari	$	0	$	148,756
TouchIT Education Technologies Dis Tic Koll Sti	$	0	$	141,260
Emko Emaye ve Yazi Tahtalari	$	0	$	333,480

Total	$	0	$	623,496

Major sales to related parties		30.09.2011		30.09.2010


TouchIT Education Technologies Dis Tic Koll Sti	$	0	$	148,756
Emko Emaye ve Yazi Tahtalari	$	0	$	0
Emko Yazi Tahalari ve Egitim Gerecleri A.S	$	0	$	372,956
Touch IT Technologies Koll. Sti Ronald Geroge Murphy ve Ortakari	$	0	$	127,340

Total	$	0	$	649,052

Service provided by		30.09.2011		30.09.2010

Kamron, Inc.	$	159,064.00	$	68,222
Andrew Stuart Brabin	$	0	$	27,934
ASB Trading	$	106,253.00	$	0
Emko Yazi Tahalari ve Egitim Gerecleri A.S	$	0	$	1,730

Total	$	265,317.00	$	97,886

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 3A

-Section 04

-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 1-4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph k

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

+ Details