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Notes Payable
6 Months Ended
Jun. 30, 2015
Notes  
Notes Payable

 

Note 5: Notes Payable

 

On March 31, 2014, Brett Bertolami, the sole officer and director of the Company converted advanced money to the Company into a promissory note for $400.  On March 31, 2015, Mr. Bertolami converted an additional $400 advanced to the Company into a promissory note.  All of the money was used to pay operating expenses.  The notes accrue interest at 2%  annually until repaid.  The balance of the notes payable, with interest, is $810.

 

From December, 2013, to June 30, 2015, the Company has borrowed funds from a private corporation to pay operating expenses.  These amounts were converted into the following promissory notes.  The balance of the notes payable, with interest, is $20,865 at June 30, 2015.

 

 

Date

Principal Amount

Interest Rate Until Paid

June 30, 2015

$4,500

2%

March 31, 2015

$1,446

2%

September 30, 2014

5,630

2%

April 1, 2014

2,500

2%

March 31, 2014

4,372

2%

December 31, 2013

2,074

2%