XML 48 R14.htm IDEA: XBRL DOCUMENT

NOTE 9. RELATED PARTY TRANSACTIONS	6 Months Ended
Mar. 31, 2012
Related Party Transactions [Abstract]
NOTE 9. RELATED PARTY TRANSACTIONS	NOTE 9– RELATED PARTY TRANSACTIONS The CEO advanced $117,582 for the six months ended March 31, 2012. During the year ended September 30, 2011, the Company issued 15,000,000 common shares to new management at the trading price of the common stock of $0.007. The stock was recorded at fair value as compensation expense of $105,000. In April 2011 the Company issued 4,000,000 common shares to new management at the trading price of the common stock of $0.0095. The stock was recorded at fair value as compensation expense of $38,000. On October 15, 2011 the Company issued 30,000,000 common shares to the CEO to convert the debit in the principal amount of $1,200,106. During the six months ended March 31, 2012 and 2011, the CEO advanced the Company cash proceeds of $18,064 and $7,663, respectively. The Company repaid $81,278 and $0 of the advances in the six months ended March 31, 2012 and 2011, respectively. The advances from the CEO are due on demand and do not accrue interest. As of March 31, 2012 and the year ended September 30, 2011, the amount owed to the CEO for advances was $117,582 and $180,796, respectively.

NOTE 9. RELATED PARTY TRANSACTIONS

6 Months Ended

Mar. 31, 2012

NOTE 9– RELATED PARTY TRANSACTIONS

The CEO advanced $117,582 for the six months ended March 31, 2012.

During the year ended September 30, 2011, the Company issued 15,000,000 common shares to new management at the trading price of the common stock of $0.007. The stock was recorded at fair value as compensation expense of $105,000.

In April 2011 the Company issued 4,000,000 common shares to new management at the trading price of the common stock of $0.0095. The stock was recorded at fair value as compensation expense of $38,000.

On October 15, 2011 the Company issued 30,000,000 common shares to the CEO to convert the debit in the principal amount of $1,200,106.

During the six months ended March 31, 2012 and 2011, the CEO advanced the Company cash proceeds of $18,064 and $7,663, respectively. The Company repaid $81,278 and $0 of the advances in the six months ended March 31, 2012 and 2011, respectively. The advances from the CEO are due on demand and do not accrue interest. As of March 31, 2012 and the year ended September 30, 2011, the amount owed to the CEO for advances was $117,582 and $180,796, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details