RELATED PARTY TRANSACTIONS |
9 Months Ended |
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Sep. 30, 2016 | |
Notes to Financial Statements | |
RELATED PARTY TRANSACTIONS |
NOTE 7 – RELATED PARTY TRANSACTIONS
As of December 31, 2015, the Company owed its officers $3,253 for cash advances and expense reimbursement. During the nine months ended September 30, 2016, the officers advanced the Company an additional $49,405 and were repaid $25,215, for a balance due of $27,443. The advances were used to pay for general operating expenses. They are uncollateralized, non-interest bearing and due on demand. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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