XML 24 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Notes Payable
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Notes Payable

 

NOTE 7 – NOTES PAYABLE

 

On March 7, 2012, the Company signed a loan agreement with Action Media Group, LLC (a former shareholder) for $250,000. The terms of the loan include: 3% annual interest and payment of principal and interest to begin at a mutually agreed upon date in the future. Maturity of the loan is perpetual or upon mutual agreement of both parties or if conditions are breached or in default.