XML 16 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Related Party Transactions
6 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 3 RELATED PARTY TRANSACTIONS

 

The Company had expenses and payables paid in its behalf by a shareholder in the amount of $2,900 during the quarter. The balance due the shareholder is $97,922 as of December 31, 2013. The aggregate amount of related party loans is non-interest bearing, unsecured and payable on demand. However, the Company imputes interest on the loan at 10% per annum. Imputed interest expense on related party loans for the three-month periods ended December 31, 2013 and 2012 totaled $2,982 and $2,430, respectively. During the six-month periods ended December 31, 2013 and 2012, the imputed interest expense on related party loans totaled $5,787 and $4,716, respectively.