4. Advances from stockholders
Advances from stockholders are
non-interest bearing and are due on demand. Interest was imputed at 5% per annum. The Company recorded an interest
expense of $6,547 for the year ended December 31, 2011 and $1,877 for the three months ending March 31, 2012.
Advances from stockholders as of March 31, 2012 and
December 31, 2011 are as follows:
| | |
March 31, | |
December 31, |
| | |
2012 | |
2011 |
| | |
| |
|
| Braydon Capital Corp. | |
$ | 31,314 | | |
$ | 31,314 | |
| Gold Street Capital | |
| 119,064 | | |
| 118,686 | |
| Total advances from related parties: | |
$ | 150,378 | | |
$ | 150,000 | |
| | |
| | | |
| | |
|