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NOTE 8: NOTES PAYABLE
3 Months Ended
Jun. 30, 2012
Accounts Payable and Accrued Liabilities Disclosure [Text Block]
NOTE 8:  NOTES PAYABLE

In December 2011, the Company purchased for $23,082 a one-year liability insurance policy (the “Policy”).  The Policy was purchased with a cash payment of $6,108 with the balance of $16,974 settled with a promissory note.  The Company recorded prepaid insurance of $23,082 and a related entry to record a $16,974 note payable.  The note has a term of nine months, bears interest at 10.25% annually and stipulates that payments of $1,969 be made monthly.   The outstanding balance of this note payable was $7,544 at June 30, 2012.  See Note 3.