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11) Subsequent Events
6 Months Ended
Jun. 30, 2012
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.