Related Party Transactions

9 Months Ended

Sep. 30, 2015

10. RELATED PARTY TRANSACTIONS

During the nine month period ended September 30, 2015, we received additional loans from a director resulting in an increase of $138,108 in amounts due to related parties as of September 30, 2015. The loans are unsecured, non-interest bearing and are payable upon demand. The loan proceeds were used to support business operations.

During each of the periods ended September 30, 2015 and 2014, the Company accrued or paid $ nil in salaries and bonuses to executive officers and directors of the Company.

As at September 30, 2015 and December 31, 2014

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No accounts payable or accrued liabilities were payable to any executive officers and directors of the Company and no accounts receivable were receivable from any executive officers and directors of the Company.

- 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.

+ References + Details

Grand China Energy Group Ltd 10-Q