2.4.0.8000080 - Disclosure - 5. Note Payabletruefalsefalse1false falsefalseY13Q2http://www.sec.gov/CIK0001399306duration2013-04-01T00:00:002013-06-30T00:00:001true 1us-gaap_DisclosureTextBlockAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Notes2false 2us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse005. NOTE PAYABLE   Notes payable Comprised as the following:   <table border="0" cellspacing="0" cellpadding="0" width="67%" style='line-height:115%;width:67.56%;border-collapse:collapse'> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="15%" valign="bottom" style='width:15.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="25%" valign="bottom" style='width:25.9%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="18%" valign="bottom" style='width:18.88%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> June 30, 2013 </td> <td width="5%" valign="bottom" style='width:5.5%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> March 31, 2013 </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Asher Note #4 </td> <td width="4%" valign="bottom" style='width:4.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="18%" valign="bottom" style='width:18.88%;border:none;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        13,000  </td> <td width="5%" valign="bottom" style='width:5.5%;border:none;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;border:none;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>                  -  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Asher Note #11 </td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="18%" valign="bottom" style='width:18.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        19,400  </td> <td width="5%" valign="bottom" style='width:5.5%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        27,500  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Asher Note #12 </td> <td width="4%" valign="bottom" style='width:4.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="18%" valign="bottom" style='width:18.88%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        47,500  </td> <td width="5%" valign="bottom" style='width:5.5%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        47,500  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Asher Note #13 </td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="18%" valign="bottom" style='width:18.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        27,500  </td> <td width="5%" valign="bottom" style='width:5.5%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>                  -  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Special Situations </td> <td width="4%" valign="bottom" style='width:4.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="18%" valign="bottom" style='width:18.88%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        21,491  </td> <td width="5%" valign="bottom" style='width:5.5%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        61,491  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Vista Capital </td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="18%" valign="bottom" style='width:18.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>          7,280  </td> <td width="5%" valign="bottom" style='width:5.5%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>          9,550  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Direct Capital </td> <td width="4%" valign="bottom" style='width:4.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="18%" valign="bottom" style='width:18.88%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        70,671  </td> <td width="5%" valign="bottom" style='width:5.5%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        70,671  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Syndication Capital </td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="18%" valign="bottom" style='width:18.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>      105,000  </td> <td width="5%" valign="bottom" style='width:5.5%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>      105,000  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="15%" valign="bottom" style='width:15.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Xploration </td> <td width="25%" valign="bottom" style='width:25.9%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="4%" valign="bottom" style='width:4.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="18%" valign="bottom" style='width:18.88%;border:none;border-bottom:solid windowtext 1.0pt;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>      269,000  </td> <td width="5%" valign="bottom" style='width:5.5%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;border:none;border-bottom:solid windowtext 1.0pt;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>      269,000  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="15%" valign="bottom" style='width:15.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="25%" valign="bottom" style='width:25.9%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Total Notes Payable </td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="18%" valign="bottom" style='width:18.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> $  580,842  </td> <td width="5%" valign="bottom" style='width:5.5%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> $  590,712  </td> </tr> <tr style='height:12.0pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="41%" colspan="2" valign="bottom" style='width:41.3%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'> Unamortized Debt Discount </td> <td width="4%" valign="bottom" style='width:4.4%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>   </td> <td width="18%" valign="bottom" style='width:18.88%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        (2,737) </td> <td width="5%" valign="bottom" style='width:5.5%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'></td> <td width="21%" valign="bottom" style='width:21.04%;background:#DCE6F1;padding:0in 5.4pt 0in 5.4pt;height:12.0pt'>        (2,270) </td> </tr> <tr style='height:12.75pt'> <td width="8%" valign="bottom" style='width:8.88%;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'></td> <td width="15%" valign="bottom" style='width:15.4%;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'></td> <td width="25%" valign="bottom" style='width:25.9%;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'></td> <td width="4%" valign="bottom" style='width:4.4%;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'></td> <td width="18%" valign="bottom" style='width:18.88%;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 2.25pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'> $  578,105  </td> <td width="5%" valign="bottom" style='width:5.5%;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'></td> <td width="21%" valign="bottom" style='width:21.04%;border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 2.25pt;border-right:none;padding:0in 5.4pt 0in 5.4pt;height:12.75pt'> $  588,442  </td> </tr> </table>     Asher Note #4   On April 4, 2013, the Company arranged a transfer of a note for $40,000 from Special Situations Fund note for $40,000 was transferred to Asher Enterprises.  The promissory note is unsecured, bears interest at 8% per annum.  During the three month period ending June 30, 2013, the Company accrued $5,298 (three month period ended June 30, 2012 - $nil) in interest expense.   After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 58% of the market price, where market price is defined as the average of the lowest three of the last ten closing trading prices on the OTCBB immediately prior to conversion date.   On June 30, 2013, the Company recorded a derivative liability of $66,774 being the fair value of the conversion feature which was determined using the Black-Scholes valuation method.   During the three month period ended June 30, 2013 the Company issued an aggregate of 91,143,767 common shares upon the conversion of principal amount of $27,000.  The derivative liability amounting to $37,291 was re-classified to additional paid in capital.   Asher Note #11   On November 2, 2012, the Company received funding pursuant to a convertible promissory note in the amount of $27,500.  The promissory note is unsecured, bears interest at 8% per annum, and matures on August 6, 2013.  During the three month period ended June 30, 2013, the Company accrued $1,372 (three month period ended June 30, 2012 - $nil) in interest expense.   After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 58% of the market price, where market price is defined as the average of the lowest three of the last ten closing trading prices on the OTCBB immediately prior to conversion date.   On December 9, 2012, the Company recorded an initial derivative liability of $27,207 being the fair value of the conversion feature which was determined using the Black-Scholes valuation method.    During the three month period ended June 30, 2013 the Company issued an aggregate of 45,015,480 common shares upon the conversion of principal amount of $8,100.  The derivative liability amounting to $10,673 was re-classified to additional paid in capital.     Asher Note #12   On February 25, 2013, the Company received funding pursuant to a convertible promissory note in the amount of $47,500.  The promissory note is unsecured, bears interest at 8% per annum, and matures on November 25, 2013.  During the three month period ended June 30, 2013 the Company accrued $1,301 (three month period ended June 30, 2012 - $nil) in interest expense.   After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 51% of the market price, where market price is defined as the average of the lowest three of the last ten closing trading prices on the OTCBB immediately prior to conversion date.   Asher Note #13   On June 16, 2013, the Company received funding pursuant to a convertible promissory note in the amount of $27,500.  The promissory note is unsecured, bears interest at 8% per annum, and matures on March 17, 2014.  During the three month period ended June 30, 2013 the Company accrued $102 (three month period ended June 30, 2012 - $nil) in interest expense.   After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 51% of the market price, where market price is defined as the average of the lowest three of the last ten closing trading prices on the OTCBB immediately prior to conversion date.   Special Situations Fund One Note.   On March 12, 2012, the Company arranged a debt swap under which an Asher Enterprises note for $40,000 was swapped to Special Situations Fund One for the Asher note plus $21,491, total $61,491. After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 55% of the market price, where market price is defined as the average of the lowest three of the last ten closing trading prices on the OTCBB immediately prior to conversion date.   On September 9, 2012, the Company recorded a derivative liability of $71,218, being the fair value of the conversion feature which was determined using the Black-Scholes valuation method.   On April 4, 2013, the Company transferred a $40,000 note to Asher Enterprises.  In addition, $3,200 in accrued interest was transferred to Asher Enterprises.   During the three month period ended June 30, 2013, the Company accrued $518 (three month period ended June 30, 2012 - $nil) in interest expense.   On June 30, 2013 the Company recorded a credit to the derivative liability of $31,855, based on the change in fair value bringing the derivative liability balance to $48,740.   Vista Capital Note   On June 11, 2012, the Company received funding pursuant to a convertible promissory note in the amount of $30,000.  The promissory note is unsecured, bears interest at 8% per annum, and matures on December 15, 2012.  During the three month period ended June 30, 2013 the Company accrued $857 (three month period ended June 30, 2012 - $nil) in interest expense.   After 180 days from issuance, the note may be converted at the option of the holder into common stock of the Company.  The conversion price is 65% of the market price, where market price is defined as the average of the lowest three of the last ten closing trading prices on the OTCBB immediately prior to conversion date.   On December 9, 2012, the Company recorded an initial derivative liability of $27,207 being the fair value of the conversion feature which was determined using the Black-Scholes valuation method.   On January 15, 2013, the Company credited the principal balance $10,000 and recorded a debit to penalties and fines due to loss of DTC eligibility.  The derivative liability amounting to $14,735 was reclassified to additional paid in capital.   As of June 20, 2013, the principal balance is $7,280, interest is $2,657 and the derivative liability is $13,666.   Direct Capital Note   On December 31, 2012, the Company entered into a debt settlement agreement with Direct Capital Group, Inc., whereby the Company exchange $70,671 in total outstanding debt into Convertible Preferred Shares of the Company. Each of the Convertible Preferred shares will convert into common shares of the Company with the conversion price being the lesser of $0.001 or shall equal the variable conversion price (the Variable Conversion Price). The Variable Conversion Price shall mean 50% multiplied by the market price (the Market Price). The Market Price means the average of the lowest three (3) Trading Prices for the Common Stock during the ten (10) Trading day period ending on the latest complete Trading Day prior to the Conversion Date. The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933.   Syndication Capital Note    On December 31, 2012, the Company entered into a debt settlement agreement with Syndication Capital, whereby the Company exchanges $105,000 in total outstanding debt into Convertible Preferred Shares of the Company. Each of the Convertible Preferred shares will convert into common shares of the Company with the conversion price being the lesser of $0.001 or shall equal the variable conversion price (the Variable Conversion Price). The Variable Conversion Price shall mean 50% multiplied by the market price (the Market Price). The Market Price means the average of the lowest three (3) Trading Prices for the Common Stock during the ten (10) Trading day period ending on the latest complete Trading Day prior to the Conversion Date. The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933.   Xploration Inc.     On December 31, 2012, the Company entered into a debt settlement agreement with Xploration Incorporated, whereby the Company exchanges $269,000 in total outstanding debt into Convertible Preferred Shares of the Company. Each of the Convertible Preferred shares will convert into common shares of the Company with the conversion price being the lesser of $0.001 or shall equal the variable conversion price (the Variable Conversion Price). The Variable Conversion Price shall mean 50% multiplied by the market price (the Market Price). The Market Price means the average of the lowest three (3) Trading Prices for the Common Stock during the ten (10) Trading day period ending on the latest complete Trading Day prior to the Conversion Date. The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933.  falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 false05. Note Payablefalse5. Note PayableUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.gridpetroleum.com/20130630/role/idr_Disclosure5NotePayable12