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Notes Payable
6 Months Ended
Aug. 31, 2015
Notes Payable [Text Block]

Note 4 – Notes Payable

Issuance of Promissory Note
On January 6, 2014 the Company issued a promise note (to the “Lender”) up to the sum of Fifty Thousand Dollars ($50,000.00), together with interest thereon computed from the date of receipt of any funds as advanced by the Lender at seven and one-half percent ( 7.5%) per annum retroactive to the first advance made on June 12, 2013, and as indicated on Appendix A which may be updated with further advances and repayments of this note from time to time. All interest, principal and other costs hereunder shall be due and payable to the Lender on December 31, 2014 (the “Due Date”).

The principal amount of the note was $22,531 as of August 31, 2015.

On December 31, 2014, the note holder agreed not to call the note until December 31, 2015.

The Company recorded $1,120 and $1,009 in interest expense for the six-month period ended August 31, 2015 and 2014, respectively.