Golden Valley Development Inc (GVDI)

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Note 3 – RELATED PARTY


Adavco, Inc. is owned by the President and sole Director of GVD. For the six months ended June 30, 2010 GVD participated in the following transactions:


On January 18, 2010, Adavco, Inc. provided a $5,000 loan to GVD due January 18, 2012 with a 5 percent interest rate. These notes are unsecured.


On June 1, 2010, Adavco, Inc. provided a $5,000 loan to GVD due June 1, 2012 with a 5 percent interest rate. These notes are unsecured.


GVD operates out of Adavco, Inc office; therefore, rent is imputed based on the fair value of the office space. Imputed rent expense for the six months ended as of June 30, 2010 is $2,328.