GBS Enterprises Inc - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - November 16, 2011

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EX-32.1 - EXHIBIT 32.1 - GBS Enterprises Incv240669_ex32-1.htm
EX-32.2 - EXHIBIT 32.2 - GBS Enterprises Incv240669_ex32-2.htm
EX-31.2 - EXHIBIT 31.2 - GBS Enterprises Incv240669_ex31-2.htm
EX-31.1 - EXHIBIT 31.1 - GBS Enterprises Incv240669_ex31-1.htm
v2.3.0.15
RELATED PARTY TRANSACTIONS AND BALANCES
6 Months Ended
Sep. 30, 2011
RELATED PARTY TRANSACTIONS AND BALANCES
NOTE 8 – RELATED PARTY TRANSACTIONS AND BALANCES

The Company had the following transactions with related parties for the six months ending September 30, 2011 and 2010:

   
2011
    
2010
  
 
   $     $  
Expenses paid to related parties:
            
Wages
     92,965       91,643  
Rent
     30,331       28,671  
Consulting fees
     482,984       173,069  
Interest
     23,327       -  
Stock Base Compensation
     34,000       -  

The transactions between the Company and the parties were consummated at the price agreed upon between the parties.

   
Sept 30
    
March 31
  
   
2011
    
2011
  
             
Due to a director and shareholder, unsecured demand note payable, bearing interest at 5%
   $ -     $ 114,750  
Due to Lotus Holdings Ltd., a shareholder, demand notes note bearing interest at 5% , due October 31, 2011
                
- secured by shares in GROUP Business Software AG
     447,240       600,000  
- secured by OUTPUT Software
     100,000       105,000  
Accrued interest
     23,327       7,906  
    $ 570,567     $ 827,656

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