Related Party Transactions | Note 3 Related Party Transactions Management considers all Directors, Officers and persons with a significant influence over the operations of the Company to be related parties. On April 28, 2014, the Company President loaned $23,000 to the Company and the Company issued a promissory note in the amount of $23,000. The promissory note is unsecured, bears interest at 6% per annum which is payable upon maturity, and matures on December 31, 2018. During the three and nine month periods ended January 31, 2016 the Company charged interest expense of $348 and $1,043 respectively (three and nine month periods ended January 31, 2015 - $348 and $1,051 respectively) pursuant to this note payable. Total accrued interest on this note as of January 31, 2016 was $2,431 (April 30, 2015 - $1,388) On June 29, 2015, the Company President loaned $7,000 to the Company and the Company issued a promissory note in the amount of $7,000. The promissory note is unsecured, bears interest at 6% per annum which is payable upon maturity, and matures on December 31, 2018. During the three and nine month periods ended January 31, 2016 the Company charged interest expense of $106 and $249 respectively (three and nine month periods ended January 31, 2015 - $nil) pursuant to this note payable. Total accrued interest on this note as of January 31, 2016 was $249 (April 30, 2015 - $nil). On August 26, 2015, the Company President loaned $3,600 to the Company and the Company issued a promissory note in the amount of $3,600. The promissory note is unsecured, bears interest at 6% per annum which is payable upon maturity, and matures on December 31, 2018. During the three and nine month periods ended January 31, 2016 the Company charged interest expense of $55 and $94 respectively (three and nine month periods ended January 31, 2015 - $nil) respectively pursuant to this note payable. Total accrued interest on this note as of January 31, 2016 was $94 (April 30, 2015 - $nil). On October 26, 2015, the Company President loaned $4,000 to the Company and the Company issued a promissory note in the amount of $4,000. The promissory note is unsecured, bears interest at 6% per annum which is payable upon maturity, and matures on December 31, 2018. During the three and nine month periods ended January 31, 2016 the Company charged interest expense of $61 and $64 respectively (three and nine month periods ended January 31, 2015 - $nil) respectively pursuant to this note payable. Total accrued interest on this note as of January 31, 2016 was $64 (April 30, 2015 - $nil). |