XML 59 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loan Payable - Other
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Loan Payable - Other

On May 2, 2014 MAB-Z entered into an open ended loan agreement with Gary Booth.  The Company received an advance of $10,000 for working capital and short-term cash requirement which carries an interest rate of 12%.  As of September 30, 2014 the balance due was $10,503 reflected in Accounts payable and accrued expenses.

 

On July 31, 2014 MAB-Z entered into and open ended loan agreement with Antony Kinsey and Kevin Hegarty.  The Company received an advance of $20,000 for working capital and short-term cash requirement which carries an interest rate of 12%.  As of September 30, 2014 the balance due was $20,396 reflected in Accounts payable and accrued expenses.

 

In July 2014 advance payments were made by Graham Roberts on behalf of MAB-Z in the amount of $6,000.  This loan is currently undocumented but is expected to be formalized in Q4. The balance due without accrued interest was $6,000 reflected in Accounts payable and accrued expenses.