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Related Party Transactions
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3 Months Ended |
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Mar. 31, 2012
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| Notes to Financial Statements | |
| Related Party Transactions |
NOTE F -- RELATED PARTY TRANSACTION
During the first quarter of 2012, Mr. Cole advanced the Company $5,500. The advance is non-interest bearing and due upon demand as funds become available. During the first quarter of 2011, the Company paid H. J. Cole, sole officer and director, $10,000 to reimburse him for services rendered, for the cost of licensing fees that he previously incurred for the Company, and to pay for additional training relative to the foreclosure real estate market. These costs were recorded as general and administrative expense in the accompanying financial statements. During 2011, Mr. Cole advanced the Company $20,800 and refunded the Company $5,000 for payments made during the first quarter of 2011. The $20,800 advance is non-interest bearing and due upon demand as funds become available.
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