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4. Notes Payable
12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
4. Notes Payable

As of December 31, 2012 the Company had received advances totaling $155,000 of which $125,000 earned interest at 5%, was unsecured and due on demand. The remaining $30,000 promissory note was non-interest bearing, unsecured and due on demand. These were assigned to the holder of the convertible debenture on October 18, 2013.

 

During the nine months ended September 30, 2013 the Company received advances totaling $47,000 and issued promissory notes to non-related parties. The notes bear interest at 5%, are unsecured and are due on demand. These were assigned to the holder of the convertible debenture on October 18, 2013.

 

On October 18, 2013, the Company issued an unsecured convertible note debenture in the principal amount of $202,000 to an unrelated party. Notes payable in the amount of $202,000 were assigned to the holder of the debenture. The convertible debenture agreement allowed the holder to convert any or the entire principal into fully paid and non-assessable common shares of the Company at a conversion rate equal to one common share for each $0.01 of indebtedness. The debenture was converted into 20,200,000 shares of common stock on November 13, 2013.

 

During October, 2013 the Company received advances totaling $7,150 and issued non-interest bearing promissory notes, unsecured and due on demand.