Note 5 - Related Party Transactions
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9 Months Ended |
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Sep. 30, 2013
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Notes | |
Note 5 - Related Party Transactions |
NOTE 5 - RELATED PARTY TRANSACTIONS
The Company occasionally pays for operating expenses of the partnerships and is reimbursed as funds become available to the partnerships on rare occasions and none this quarter. Additionally, the Company uses 500 square feet of office space from its Interim President rent free. There are no commitments attached to this space. During this current year Mike King our President lent Pipeline Nutrition USA our subsidiary $30,000 for working capital secured by Pipeline's inventory. Terms of the note are detailed in note 6, notes payable. The Company currently has a secured loan of $125,000 for working capital with its subsidiary Pipeline which was eliminated during the intercompany consolidation. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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