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Related Party Transactions
 12 Months Ended
Dec. 31, 2014
Related Party Transactions  
Related Party Transactions

Note F - Related Party Transactions

 

The Company does not have any special committee, policy or procedure related to the review, approval or ratification of related party transactions.  During the fiscal years ended December 31, 2014 and 2013, respectively, there have related party transactions between the Company and any of its directors, officers and principal stockholders as below:

 

 

The participation of HFG and Timothy P. Halter, a former officer and director of the Company, in the  the August 1, 2007 plan of reorganization, which included the payment of certain operating expenses by HFG and/or HFI, and, in accordance with the Plan, the original issuance to HFG of 400,000 shares of the Company’s  common stock for satisfaction of certain administrative claims;

 

 

The entry into the distributor agreement on August 1, 2013 with Snotarator LLC., a limited liability company in which Ms. Orsolya Peresztegi (the Company’s current sole officer, director and majority stockholder) also serves as a manager and is a principal owner; Ms. Peresztegi is married to Kevin Halter, Jr., who is the brother of Timothy P. Halter, our former officer and director, and an affiliate of HFG, HFG Consulting and HFI.

 

 

The sale on August 1, 2013 of 9.5 million shares of the Company’s common stock to Ms. Orsolya Peresztegi for cash of $9,500  received on December 30, 2013; and

 

 

The agreement dated 15 April, 2014 by HFG Consulting, an affiliate of Timothy P. Halter, to assist the Company, for no consideration, with its market research efforts in Brazil and Chile.

 

 

HFG and/or HFI collectively contributed approximately $18,771 and $5,851 for year ended December 31, 2014 and 2013 respectively, to support the Company’s operations during such periods and was recorded as additional paid in capital.