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RELATED PARTY TRANSACTIONS
 12 Months Ended
Jul. 31, 2012
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

NOTE 7 – RELATED PARTY TRANSACTIONS

 

On the date of our inception, we issued 20 million shares of our common stock to our three officers and directors which were recorded at no value (offsetting increases and decreases in Common Stock and Additional Paid in Capital).

 

For the period from inception (July 21, 2009) through July 31, 2012 certain shareholders made cash contributions and paid expenses on behalf of the company totaling $20,266. This contribution is not evidenced by a promissory note and bears no interest. During the years ended July 31, 2012 and 2011, we imputed $3,729 and $835, respectively, charging income with that amount and increasing Additional Paid in Capital.

 

At July 31, 2012, we owed $80,000 to GreenEra, Ltd., a company in which our directors, Messrs. Panagiotis Drakopoulos and Vasileios Mavrogiannis are shareholders (see Note 6).

 

At July 31, 2012, our two directors, Messrs. Panagiotis Drakopoulos and Vasileios Mavrogiannis, are collectively owed $110,000 in unpaid salaries.

 

We believe that all related party transactions were on terms at least as favorable as we would have secured in arm’s-length transactions with third parties. Except as set forth above, we have not entered into any material transactions with any director, executive officer, and promoter, beneficial owner of five percent or more of our common stock, or family members of such persons.