XML 15 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Payables and Accruals
3 Months Ended
Nov. 30, 2011
Payables and Accruals  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note 4 – Convertible Note Payable

 

On August 1, 2008, the Company borrowed $65,000 for working capital purposes and we issued a one-year note payable.  The note matured on August 1, 2009 and bears interest at 5% per year.  The holder has the right, with proper notice to convert the note into two-million shares of common stock at $.035 per share. 

 

Since issuing this note, we have accrued $10,817 in interest to November 30, 2011.  We have not paid any interest or principal on this note. As of the date of the filing of this report, this note is in default.