XML 45 R39.htm IDEA: XBRL DOCUMENT v2.4.0.8
Notes Payable (Detail Textuals 3) (USD $)
9 Months Ended 0 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Jul. 24, 2013
Dec. 31, 2012
Sep. 30, 2013
Note receivable
Jan. 07, 2013
Note receivable
Dec. 31, 2012
Note receivable
Jan. 07, 2013
Vulcan Oil & Gas Inc
Jan. 07, 2013
JV Investments Inc
Note receivable
Jan. 07, 2013
Vulcan - Note payable and accrued interest
Sep. 30, 2013
Vulcan - Note payable and accrued interest
Jan. 07, 2013
Vulcan - Note payable and accrued interest
JV Investments Inc
Debt Instrument [Line Items]                        
Aggregate principal amount of loan                     $ 500,000 $ 500,000
Percentage of interest rate on promissory note     8.00%   10.00%             4.00%
Principal amount of promissory note received 430,000     497,355 430,000 [1] 400,000 400,000 [1] 400,000        
Percentage of interest rate on promissory note           10.00%   10.00% 10.00%      
Recognized debt discount                   100,000    
Amortization period of debt discount                   1 year    
Extended term of notes                   1 year    
Increase in percentage of interest rates on Forex Notes for extended maturity period                   10.00%    
Description of forex transaction                   The Forex Note conversion price is the Variable Conversion Price, which is defined as 50% multiplied by the average of the lowest three trading prices of the Company's common stock on the OTCBB during the 10-day trading period ending on the latest complete day of trading on the OTCBB prior to the date of conversion.    
Variable conversion price                   $ 0.002    
Percentage of common stock outstanding owned                   4.99%    
Amortization of debt discount $ 75,000                       
[1] On January 7, 2013, effective December 31, 2012, the Company, JV, and Vulcan entered into an agreement pursuant to which the JV Agreement was terminated. As part of the termination agreement, Vulcan issued to the Company a 10% Secured and Collateralized Promissory Note in the principal amount of $400,000. The interest rate will increase by 4% per annum if not paid by the maturity date. The note has a maturity date of December 31, 2013. In the first nine months of 2013, $30,000 of interest income was accrued for this note.