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NOTE RECEIVABLE - RELATED PARTY
3 Months Ended
Feb. 29, 2012
Notes to Financial Statements  
NOTE RECEIVABLE - RELATED PARTY

 

During the year ended May 31, 2010, the Company loaned $50,000 to a related party to fund an investment in a film project. The loan was due on June 14, 2011 and at that time a total balloon payment of $55,000 was due that will satisfy the principal and accrued interest. On June 2, 2010, the Company loaned an additional $50,000 to the related party and amended the terms of the initial loan. On September, 6 2011 the Company loaned an additional $62,500 to the related party. The total note receivable of $162,500 plus 6.66 % interest was fully repaid in December 2011.