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NOTES PAYABLE
6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
NOTES PAYABLE

NOTE 4 – NOTES PAYABLE

 

On January 8, 2013, the Company issued a promissory note in the amount of $6,000. This note is unsecured, bears no interest and is payable on demand by the note holder.

 

On February 2, 2013, the Company issued a promissory note in the amount of $6,000. This note is unsecured, bears no interest and is payable on demand by the note holder.

 

On February 22, 2013, the Company issued a promissory note in the amount of $6,000. This note is unsecured, bears no interest and is payable on demand by the note holder.

 

On June 6, 2013, the Company issued a promissory note in the amount of $4,728. This note is unsecured, bears no interest and is payable on demand by the note holder.

 

On June 18, 2013, the Company amended an unsecured, non-interest bearing promissory note payable on demand in the amount $1,750 issued to the Cellular Connection Ltd. The modification of the Note has been accounted for as debt extinguishment and the issuance of a new debt instrument. Under the terms of the Side Letter Agreement, the Note has a fixed conversion price of $0.0001 per share of common stock. In additional, as a result of the modification the face value of the Note was increased from $1,750 to $3,500 resulting in a finance charge of $1,750. The note bears interest at 20% per annum and allows for the lender to secure a portion of the Company assets up to 200% of the face value of the note and mature one year from the day of their respective issuance. The amendment of the terms of Promissory Note resulted in a beneficial conversion feature of $3,500 since the closing price of common stock on June 18, 2013 exceeded the fixed conversion price. The beneficial conversion feature of $3,500 is included in additional paid-in capital and was fully amortized and included in interest expense. On June 18, 2013 the holder of the note converted $3,500 of principal plus accrued interest into 35,000,000 shares of the Company's common stock.