Related Party Transactions | Note 2 - Related Party Transactions From time to time, we have borrowed money from each of Michael Campbell and Eric M. Hellige, each of whom is a member of our board of directors and is a person who has a beneficial ownership of our outstanding common stock. Each borrowing bears interest at the rate of 8% per annum and matures on the earlier of (1) the date we are no longer a shell company, or June 30, 2015. As of August 31, 2015, we had net borrowings of approximately $25,693 from Mr. Campbell and $25,350 from Mr. Hellige. As of August 31, 2015, the notes payable are in default. During the fiscal year ended May 31, 2015, we borrowed $3,525 and $380 from M1 Advisors and RHI Venture 2, respectively. We made payments of $3,075 to M1 Advisors and $100 to RHI Venture 2, respectively. During the fiscal year ended May 31, 2014, we borrowed $5,050 and $10,250 from M1 Advisors and RHI Venture 2, respectively. During the fiscal year ended May 31, 2013, we borrowed $5,000 and $3,500 from M1 Advisors and RJI Venture 2, respectively. From time to time, we have borrowed money from RHI Venture 2. This company is owned by Michael Campbell, a member of our board of directors and is a person who has a beneficial ownership of our outstanding common stock. Each borrowing bears interest at the rate of 8% per annum and matures on the earlier of (1) the date we are no longer is a shell company, or June 30, 2015. As of August 31, 2015, we had net borrowings of $14,030 from RHI Venture 2. As of August 31, 2015, this note payable is in default. During the three months ended August 31, 2015, we paid consulting fees to M1 Advisors of $40,000. This company is owned by Michael Campbell, a member of our board of directors and is a person who has a beneficial ownership of our outstanding common stock. During the fiscal year ended May 31, 2015, we entered into a letter of intent with Fision Holding, Inc. (“Fision”) to merge with Fision through a Reverse Take Over (“RTO”). We have agreed in principle to buy Fision by issuing a number of shares of common stock that will represent 96% of the post-merged entity’s fully diluted and outstanding capital structure through the merger. At the time the transaction is completed, Fision will have contributed $150,000 in cash to be used by us to settle certain outstanding obligations. The perceived value of the contemplated transaction to us is agreed by the parties to be worth approximately $526,887 ($150,000 in cash plus $376,887 in retained stock). To start the contemplated RTO, we required a $60,000 deposit to prepare for the RTO and complete all pre-merger audits, corporate filings, and reverse stock splits required to deliver the shell up-to-date in all SEC filings and ready for Merger through the RTO process. As of August 31, 2015, Fision has made deposits totaling $95,000 under this agreement. There can be no assurance that we will enter into a binding agreement to merge with Fision or that the RTO will be consummated. |