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NOTES PAYABLE - RELATED PARTY
 3 Months Ended
Mar. 31, 2014
NOTES PAYABLE - RELATED PARTY [Abstract]  
NOTES PAYABLE - RELATED PARTY

NOTE 3. NOTE PAYABLE - RELATED PARTY

 

    March 31, 2014     December 31, 2013  
Balance due to a shareholder, unsecured, bears no interest until June 1, 2011, and 6% compounded monthly thereafter, with principal and interest due to be repaid in full at June 1, 2012.   $ -     $ 1,500  
                 
Balance due to a shareholder, unsecured, bears no interest until December 31, 2012 and 6% compounded monthly thereafter, with principal and interest due to be repaid in full at December 31, 2013.     -       20,500  
                 
Total   $ -     $ 22,000  

 

 

Effective March 5, 2014, both of these notes payable - related party, together with accrued interest of $1,240, were forgiven by the holder. The gain arising on forgiveness of these liabilities has been recognized in additional paid in capital.