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Short Term Loans - Related Parties (Narrative) (Details) (West Point Partners, LLC, USD $)
3 Months Ended
Sep. 30, 2013
Jun. 30, 2013
West Point Partners, LLC
   
Related Party Transaction, Description of Transaction

West Point Partners, LLC

As of June 30, 2013, we had received a loan of $185,000 from West Point Partners, LLC, whose managing partner is the Company's Principal Accounting Officer. The loan is due on demand, unsecured and pays an annual interest rate of 12% per annum. Accrued interest as of June 30, 2013 amounted to $26,650.

During the three months ended September 30, 2013, the Company recognized interest expense of $5,550. As of September 30, 2013, the entire loan of $185,000 is still outstanding with unpaid interest of $32,200.

 

 

 
Related Party Transaction, Rate 12.00%  
Short Term Loan from Related Party $ 185,000  
Interest payable to related party   26,650
Interest expense $ 5,550