XML 16 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
NOTES PAYABLE RELATED PARTY
3 Months Ended
Dec. 31, 2013
NOTES PAYABLE RELATED PARTY  
NOTES PAYABLE RELATED PARTY

NOTE 3 - NOTES PAYABLE – RELATED PARTY

 

Through December 31, 2013, the Company had received $101,881 in advances from certain officers of the Company under promissory notes. A balance of $82,818 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 period ended December 31, 2013 and 2012, recognized $1,928 and $1,568, respectively, in interest expense with an increase to additional paid in capital for the same amount.