3 Advances from Related Party

6 Months Ended

Dec. 31, 2013

Related Party Transactions [Abstract]

Advances from Related Party

Note 3 — Advances from Related Party

During the twelve months ended June 30, 2013, a shareholder has paid expenses of $21,396 on behalf of the Company which has been recorded as contributed capital. During the six months ended December 30, 2013, the same shareholder paid expenses of $8,217 on behalf of the Company which has also been recorded as contributed capital.

As of June 30, 2012, the Company had related party advances of $47,015 due to a major shareholder, for operating expenses paid on the Company’s behalf. The related party advances accrued interest at a rate of 8% per annum, was unsecured and payable upon demand.  This debt and the accrued interest were forgiven by the shareholder as of June 30, 2013, and accordingly, the Company recorded as contributed capital the previously incurred debt of $57,459 during the year ended June 30, 2013.