XML 27 R11.htm IDEA: XBRL DOCUMENT

Convertible Debt	6 Months Ended
Jun. 30, 2011
Notes to Financial Statements
NOTE 5 - Convertible Debt	The Company has issued for aggregate consideration of $25,000 a convertible note. This note bears interest at the imputed IRS rate of .0054% per annum and is due September 28, 2011. The note is convertible into common stock of the Company at the rate of $.25 per share. In addition, upon conversion at maturity date, the Company will issue a 2-year warrant to purchase 100,000 shares of the Company's common stock at an exercise price of $.50 per share. The Company has recorded a debt discount in the amount of $19,723 to reflect the value of the warrants as a reduction to the carrying amount of the convertible debt and a corresponding increase to additional paid-in capital. Such discount will be amortized over the term of the debt. As of June 30, 2011, the convertible note was repaid in full with the remaining discount recorded as interest expense.

Convertible Debt

6 Months Ended

Jun. 30, 2011

The Company has issued for aggregate consideration of $25,000 a convertible note. This note bears interest at the imputed IRS rate of .0054% per annum and is due September 28, 2011. The note is convertible into common stock of the Company at the rate of $.25 per share. In addition, upon conversion at maturity date, the Company will issue a 2-year warrant to purchase 100,000 shares of the Company's common stock at an exercise price of $.50 per share. The Company has recorded a debt discount in the amount of $19,723 to reflect the value of the warrants as a reduction to the carrying amount of the convertible debt and a corresponding increase to additional paid-in capital. Such discount will be amortized over the term of the debt. As of June 30, 2011, the convertible note was repaid in full with the remaining discount recorded as interest expense.