NOTE 7. RELATED PARTY TRANSACTIONS
A shareholder advances the Company the necessary funds to cover customary expenses. There were no shareholder advances during the fiscal year ended September 30, 2012, however shareholder advances during the fiscal year ended September 30, 2011 totaled $202,000.
The balance of advances from the shareholder as of September 30, 2012 was $202,065, is non-interest bearing and has no fixed maturity.
The Company neither owns nor leases any real or personal property. An officer of the corporation provides office space and services without charge. Such costs are immaterial to the financial statements and accordingly, have not been reflected therein. The officers and directors for the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.