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Note 3 - Related Party Transactions
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3 Months Ended |
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Aug. 31, 2014
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| Related Party Transactions [Abstract] | |
| Related Party Transactions Disclosure [Text Block] |
Note 3 – Related Party Transactions
On April 19, 2011, the Company’s CEO, Larry Adelt provided an advance of $100 in cash, which was recorded as a current liability as of May 31, 2011. The advance was non-interest bearing and due on demand.
On May 31, 2011, the Company issued 18,000,000 founder’s shares of common stock at the par value of $0.001 to the Company’s CEO, Larry Adelt in exchange for proceeds of $18,000.
BK Consulting
Notes Payable
During the year ended May 31, 2012 the Company received a loan in the amount of $50, from BK Consulting and Associates, P.C. to fund operations. The unsecured note bears interest at 8% and is due on demand. During the year ended May 31, 2013 the Company received loans in the amount of $161, from BK Consulting and Associates, P.C. to fund operations. The unsecured note bears interest at 8% and is due on demand.
During the year ended May 31, 2014 the Company received loans in the amount of $4,999, from BK Consulting and Associates, P.C. to fund operations. The unsecured note bears interest at 8% and is due on demand.
As of August 31, 2014 and May 31, 2014 the Company had accrued interest related to these notes in the amount of $476 and $371. Convertible Notes Payable During the year ended May 31, 2014 the Company received unsecured convertible notes payable in the amount of $9,675, from BK Consulting and Associates, P.C. to fund operations. The unsecured convertible note is non-interest bearing, due on demand and convertible into Common Stock at a rate $0.002 per share.
On July 16, 2014 the Company received an unsecured convertible note payable in the amount of $11,582, non-interest bearing, due on demand and convertible into Common Stock at a rate $0.002 per share, from BK Consulting, to fund operations.
On July 29, 2014 the Company received an unsecured convertible note payable in the amount of $1,600, non-interest bearing, due on demand and convertible into Common Stock at a rate $0.002 per share, from BK Consulting, to fund operations.
On August 22, 2014 the Company received an unsecured convertible note payable in the amount of $1,750, non-interest bearing, due on demand and convertible into Common Stock at a rate $0.002 per share, from BK Consulting, to fund operations.
As of August 31, 2014 and May 31, 2014 the balance of the convertible debt was $24,607 and $9,675. The Company recorded imputed interest in the amount of $456 and $0 during the three months ended August 31, 2014 and 2013 at a rate of 8% on the outstanding convertible notes.
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