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Note 3 Significant Accounting Policies: Deferred Financing Charges and Debt Discounts (Policies)
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3 Months Ended |
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Sep. 30, 2012
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| Policies | |
| Deferred Financing Charges and Debt Discounts | DEFERRED FINANCING CHARGES AND DEBT DISCOUNTS
Deferred finance costs represent costs which may include direct costs incurred to third parties in order to obtain long-term financing and have been reflected as other assets. Costs incurred with parties who are providing the actual long-term financing, which generally include the value of warrants, or the intrinsic value of beneficial conversion features associated with the underlying debt, are reflected as a debt discount. These costs and discounts are generally amortized over the life of the related debt. During the nine months ended September 30, 2012 and 2011, the Company recorded amortization of the note discount in the amount of $0 and $22,058 respectively. |