Notes Payable – Related Parties

3 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Notes Payable – Related Parties

Note 5 – Notes Payable – Related Parties

The Company has received advances in the form of unsecured promissory notes from stockholders. The original date of these advances was November 2009, March 2011 and October 2011. These notes bear interest at rates up to 10% and are due on demand. As of December 31, 2011 and September 30, 2011, such notes payable amounted to $36,500 and $25,000, respectively. Accrued interest on the notes amounted to $17,524 and $16,885 at December 31, 2011 and September 30, 2011, respectively, and is included in accrued expenses. Interest expense on these notes for the three months ended December 31, 2011 and 2010 amounted to $639. No demand for payment has been made as of December 31, 2011.