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11) Subsequent Events
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6 Months Ended |
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Jun. 30, 2012
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| Notes | |
| 11) Subsequent Events | 11) SUBSEQUENT EVENTS
On July 10 and August 31, 2012 the Company borrowed $50,000 and $100,000 from two unrelated parties pursuant to convertible debenture agreements. The debentures bear interest at 5.0% and 6% per annum and have a term of five years, maturing on July 10 and August 31, 2017. The debentures are convertible into common stock at $0.25 per share.
On July 19, 2012 the company issued 208,322 shares of common stock valued at $52,083 which was for the settlement of debt to Geoffrey Adler.
On July 23, 2012 the company issued 250,000 shares of common stock valued at $47,500 for services. |