Related Party Receivables

3 Months Ended

Jan. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions

4. Related Party Receivables

Receivables from related parties are non-interest bearing, uncollateralized obligations and consist of a $2,000 advance to one recently hired employee in October 2012 to assist with moving expenses. The balance of $10,015 represents the amount which the Company’s President, Jeffrey Nunez, has received in excess of fees and expenses due to him since becoming employed by the Company in April 2012. The preparation of financial statements requires our management to make estimates and assumptions relating to the collectivity of our accounts receivable. Management believes that the referenced receivables are collectible and as of October 31, 2012 and January 31, 2012, the Company has determined that no Allowance for Doubtful Accounts was required.

See also Note 11 – “Securities Transactions.”