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Convertible Notes Payable (Narrative) (Details) (USD $)
 12 Months Ended 1 Months Ended
Jun. 30, 2013
Asher Enterprises, Inc
Dec. 31, 2012
Private Party
Jun. 30, 2013
Private Party
Amount of Convertible Promissory Notes     $ 100,000
Interest rate on convertible notes     12.00%
Debt instrument, description

On July 12, 2012 we entered into a convertible promissory note with Asher Enterprises, Inc. under which we issued a $53,000 convertible promissory note. The note is due April 13, 2013 and bears interest at 8% p.a. The note is convertible into shares of our common stock at a conversion price equal to 60% of the average of the lowest three (3) Trading Prices for the Common Stock during the ten Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. The note was issued in reliance on Section 4(2) of the Securities Act of 1933. The note was not offered via general solicitation to the public. No sales commissions or other remuneration was paid in connection with the issuance of this note. On November 9, 2012 the note was paid in full including a pre- payment premium of $19,600 and accrued interest of $1,394.

 

 

 

On December 17, 2012 we issued a convertible promissory note payable to a private party in the amount of $100,000 with an interest rate of 12% p.a. and due May 31, 2014. The note is convertible into shares of our common stock at a conversion price of $0.03 any time during the life of the note. The note was issued in reliance on Section 4(2) of the Securities Act of 1933. The note was not offered via general solicitation to the public. No sales commissions or other remuneration was paid in connection with the issuance of this note.

 

Also, 3,333,333 warrants were issued in connection with the note, and that as a result, a discount in the amount of $95,002 was recorded against this note. The balance of the discount at December 31, 2012 is $92,492.

 

 

 

 

 

 

 

 

 

  
Debt Instrument, Maturity Date Apr. 13, 2013 May 13, 2014  
Conversion Price, per share     $ 0.03
Debt pre-payment premium 19,600    
Warrants issued in connection with note     3,333,333
Unamortized note discount     76,370
Interest payable $ 1,394