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Related Party Disclosures
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12 Months Ended |
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Dec. 31, 2011
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| Related Party Disclosures | |
| Related Party Transactions Disclosure [Text Block] |
NOTE 8– RELATED PARTY TRANSACTIONS
The Company has a consulting agreement with Terranautical Global Investments (“TGI”). TGI is a company controlled by Jorge Andrade that provides consulting services to the Company. There is no formal agreement between the parties and is on a month to month basis. The remuneration ranges between $5,000 and $10,000 per month depending on the services provided. As of December 31, 2011 and December 31, 2010, TGI was paid $33,500 and $6,000 as consulting fees. As of December 31, 2011, there was an unpaid balance of $54,725.
The Company has a consulting agreement with Premier Aftercare Recovery Service, (“PARS”). PARS is a Company controlled by Neil Muller that provides consulting services to the Company. There is no formal agreement between the parties and the amount of remuneration depends on the services provided and ranges between $5,000 and $10,000 per month. As at December 31, 2011, $50,600 in consulting fees and $10,298 in reimbursement of expenses and $6,090 and for December 31, 2010, was paid as consulting fees. As of December 31, 2011, there was an unpaid balance of $51,418.
West Coast Health Consulting, Inc. is a company controlled by Neil Muller that previously provided consulting services to the Company. As of December 31, 2011 and December 31, 2010, $4,000 and $0 were paid in consulting fees.
Jorge Andrade was paid a consulting fee of $2,500 for the year ended December 31, 2011. |