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9.
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Related Party Transactions
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During the year ended December 31, 2012, an officer of the Company loaned the company $39,200
as discussed in Note 6 above.
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During the year ended December 31, 2013, the Company issued
4,101,844
shares to an officer.
3,768,844
were issued for conversion of $75,000
in notes ($39,200) and accounts payable ($35,800) as discussed in Note 6 and
333,000
were issued that were owed from prior periods. During the year ended December 31, 2012, the Company issued
900,000
shares to officers and directors in lieu of executive compensation.
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During the year ended December 31, 2013, the Company reimbursed an officer approximately $26,847
in connection with various office expenses paid for on the Company’s behalf. During the year ended December 31, 2012, the Company reimbursed an officer $16,498
for a residential lease and related utilities in Wichita, Kansas, which was being used as the corporate offices and $21,326
in connection with various office expenses paid for on the Company’s behalf.
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During the year December 31, 2012, the Company authorized the issuance of
767,500
shares of common stock for the conversion of $239,469
of accounts payable balances. As of the December 31, 2013,
34,500
shares were unissued. $173,205
of the accounts payable converted was held by officers/directors of the Company.
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