Quarterly report pursuant to sections 13 or 15(d)

Related Party Transactions

Related Party Transactions
3 Months Ended
Jan. 11, 2013
Related Party Transactions

Note 8 - Related Party Transactions

In May, July and September of 2007, the Company issued a total of $150,000 in promissory notes with a stated interest rate of 14% to a director of the Company. As of November 30, 2012, the balance payable on the notes is $47,601. The Company has classified the balance as short-term obligation as of November 30, 2012, as the Company’s intention is to pay the note completely in the next twelve months.

The above terms and amounts are not necessarily indicative of the terms and amounts that would have been incurred had comparable transactions been entered into with independent parties.