XML 47 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note receivable
12 Months Ended
Sep. 30, 2012
Notes Receivable [Text Block]

Note 6 – Note receivable


In May 2011, we announced that we had signed a non-binding letter of intent to acquire privately-held Exigent Security Products, Inc. (“Exigent”). We have since discontinued our efforts to consummate this acquisition and we have terminated this letter of intent. During the year ended September 30, 2011 and in conjunction with the acquisition efforts, we advanced $47,500 to Exigent pursuant to a note receivable due in June 2012, which bears interest at 10% per annum and is collateralized by certain technology. As on September 30, 2012, the total principal and interest due amounted to $47,500 and $6,097, respectively. Although the balance is past due, management believes that the amount is collectible in its entirety, therefore no allowance has been provided as of September 30, 2012.