During 2011, a Director of the Company loaned the Company an amount equal to $500. The loan carries no stated interest and due on demand. During 2012, a Director of the Company loaned the Company an amount equal to $5,060. The loan carries no stated interest and due on demand. In May 2012, a payment of $5,000 was applied to this account. The balance at August 31, 2012 was $560. During the period September 1, 2012 through November 30, 2012, a Director of the Company loaned the Company $351,020. The loan carries no stated interest and is due on demand. The balance of these related party transactions on November 30, 2012 was $356,580. |