NOTES PAYABLE

3 Months Ended

Dec. 31, 2017

Notes to Financial Statements

NOTES PAYABLE

NOTE 4 – NOTES PAYABLE

Notes payable consisted of the following at December 31, 2017 (unaudited) and September 30, 2017:

	December		September
Note payable, unsecured, bearing interest at 12%, due on June 26, 2011	$	30,000	$	30,000
Convertible note payable, unsecured, bearing interest at 12%, due on July 24, 2011		50,000		50,000
Note payable, unsecured, bearing interest at 10% plus financing charge of $2,500, due on October 10, 2013		27,500		27,500
Note payable, unsecured, bearing interest at 10% plus financing charge of $1,500, due on February 13, 2014		16,500		16,500
Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014		6,000		6,000
Note payable, unsecured, bearing interest at 10%, due on demand		20,000		20,000
Note payable, unsecured, bearing interest at 10%, due on demand		25,000		25,000
Total Notes payable	$	175,000	$	175,000

The Convertible note is convertible at the option of the holder. The number of shares of common stock into which the convertible note will be converted is determined by the Fair Market Price (“FMV”) of the common stock at the date of conversion. In the event there is no determinable market price the FMV shall be:

a) The share price at the last private offering of the common stock, or, b) the 30 day moving average of the Common Stock in the event a public listing of the common stock has taken place.

Notes payable of $130,000 are currently in default as of the date of issuance of these financial statements.