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SHORT-TERM LOAN - RELATED PARTIES
12 Months Ended
Dec. 31, 2014
Summary of Investments, Other than Investments in Related Parties [Abstract]  
SHORT-TERM LOAN - RELATED PARTIES

NOTE 5: SHORT-TERM LOAN – RELATED PARTIES

 

Short-term loans amounted to $76,807 and $160,000 as of December 31, 2014 and 2013, respectively. During the year ended December 31, 2014, the Company has received short-term loans from related parties totaling $162,915 and repaid $246,108. The loans are non-interest bearing and are due on demand (see Note 10).

 

From August to October 2013, short-term loans totaling $203,000 were made to the Company by three related parties (see Note 10). The loans are non-interest bearing and are due on demand. As of December 31, 2013, the Company repaid $33,000 in short-term loans and issued a convertible debenture for $10,000 in exchange for a $10,000 loan (see Note 6) resulting in a $160,000 in short-term loan payables to related parties at December 31, 2013.