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Subsequent Events
9 Months Ended
Jun. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events

7.        Subsequent Events

 

The Company raised $30,000 through two private placements for an aggregate of 207,143 shares sold. The shares were sold to the Company’s chairman of the board on July 2, 2012 and July 17, 2012. These shares have not been registered with the SEC. However, the Company’s chairman of the board received demand registration rights, subject to certain limitations, and unlimited piggyback registration rights, with respect to the shares. The Company is only obligated to use its best efforts to obtain an effective registration statement.

 

The Company obtained a working capital bridge loan of $100,000 from its president on August 7, 2012. This loan is non-interest bearing and due on demand, and is in addition to other outstanding loans that the Company has obtained from its president.