Thanks for your insight, after looking at the 10K it almost looks like maybe they do owe something to John Russell.
a) During the year ended May 31, 2011, we incurred management fees of $28,000 (2010 - $nil) to one of our directors. (b) During the year ended May 31, 2011, we incurred management fees of $18,000 (2010 - $57,000) to an accounting firm where our former Chief Financial Officer is a partner. (c) During the year ended May 31, 2011, we incurred management fees of $39,000 (2010 - $10,124) to a company controlled by our former Chief Financial Officer. (d) During the year ended May 31, 2011, we incurred management fees of $42,982 (2010 - $41,948) to our former Vice President. (e) As at May 31, 2011, we owed $68,340 (2010 - $34,592) to our former Vice President, which is non-interest bearing, unsecured, and due on demand. This amount has been included in accounts payable in the current year. (f) As at May 31, 2011, we owed $54,936 (2010 - $17,608) to our former Vice President which is non-interest bearing, unsecured, and due on demand. This amount has been included in accounts payable in the current year. (g) As at May 31, 2011, we owed a total of $9,179 (2010 - $9,179) to our former Chief Financial Officer and a company controlled by the former Chief Financial Officer. This amount has been included in accounts payable in the current year. (h) As at May 31, 2011, we owed $53,290 (2010 - $38,550) to an accounting firm where our former Chief Financial Officer is a partner which is non-interest bearing, unsecured, and due on demand. This amount has been included in accounts payable in the current year. (i) As at May 31, 2011, we owed $25,184 (2010 - $21,045) to the spouse of our President which is non- interest bearing, unsecured, and due on demand. (j) As at May 31, 2011, we owed $13,207 (2010 - $nil) to our director, which is non-interest bearing, unsecured, and due on demand. (k) As at May 31, 2011, we owed a total of $167,304 (2010 - $173,738) to our President and a company controlled by our President, which is non-interest bearing, unsecured, and due on demand.
