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4. Convertible Demand Promissory Notes
3 Months Ended
Aug. 31, 2012
Debt Disclosure [Abstract]  
4. Convertible Demand Promissory Notes

On May 19, 2011 and September 27, 2011, the Company executed and delivered to Coventry Capital LLC (“Coventry”) Convertible Demand Promissory Notes in the principal amount of $200,000 or $400,000 in total in favor of Holder with simple interest of 10% per annum payable in arrears.

 

In January and February 2012, the Company executed and delivered to Coventry Capital LLC (“Coventry”) Convertible Demand Promissory Notes totaling $205,000.

 

On April 19, 2012, Coventry converted $605,000 of Convertible Demand Promissory Notes plus accrued interest of $32,440 into 2,549,760 shares of restricted common stock at $.25 per share. The shares do not have registration rights. A notice filing under Regulation D was filed with the SEC on June 7, 2012 with regard to these stock issuances.