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Note 13 - RELATED PARTY TRANSACTIONS
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3 Months Ended |
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Mar. 31, 2013
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| Notes to Financial Statements | |
| Note 13 - 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. During the three months ended March 31, 2013, the Company incurred $46,667 as consulting fees. As of March 31, 2013, there was an unpaid balance of $108,892.
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. During the three months ended March 31, 2013, the Company incurred $46,667 as consulting fees and expense reimbursements. As of March 31, 2013, there was an unpaid balance of $100,840.
West Coast Health Consulting, Inc. is a company controlled by Neil Muller that previously provided consulting services to the Company. During the three months ended March 31, 2012, the Company paid $-0- as consulting fees. As of March 31, 2013, there was an unpaid balance of $nil. |