XML 13 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTES PAYABLE - RELATED PARTY
6 Months Ended
Mar. 31, 2012
NOTES PAYABLE - RELATED PARTY  
NOTES PAYABLE - RELATED PARTY

NOTE 3 - NOTES PAYABLE – RELATED PARTY

 

Through March 31, 2012, the Company had received $52,818 in advances from certain officers of the Company under promissory notes. A balance of $52,818 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 six month period ended March 31, 2012 recognized $2,673 in interest expense with an increase to additional paid in capital for the same amount.