NOTES PAYABLE - RELATED PARTY

3 Months Ended

Dec. 31, 2012

NOTES PAYABLE - RELATED PARTY

NOTES PAYABLE - RELATED PARTY

NOTE 3 - NOTES PAYABLE – RELATED PARTY

Through December 31, 2012, the Company had received $84,881 in advances from certain officers of the Company under promissory notes. A balance of $65,818 is still outstanding on these notes. The notes bear no interest and are payable on demand.  Although the notes bear no interest, the Company imputed interest at a rate of 8% and during the three month periods ended December 31, 2012 and 2011, recognized $1,568 and $1,320, respectively, in interest expense with an increase to additional paid in capital for the same amount.