Notes Payable

1 Months Ended

Mar. 31, 2013

Notes Payable {1}

Notes Payable

3.             Notes Payable

a)            On August 31, 2011, the Company issued a $9,985 promissory note to the President of the Company. Under the terms of the note, the amount is unsecured, accrues interest at 10% per annum, and is due on demand. As of March 31, 2013, the Company recorded accrued interest of $1,663 (September 30, 2012 - $1,165) in accounts payable and accrued liabilities.

b)            On October 25, 2011, the Company issued a $9,985 promissory note to the President of the Company.  Under the terms of the note, the amount is unsecured, accrues interest at 10% per annum, and is due on demand.  As of March 31, 2013, the Company recorded accrued interest of $1,443 (September 30, 2012 - $936) in accounts payable and accrued liabilities.

c)             On December 20, 2011, the Company issued a $9,985 promissory note to the President of the Company.  Under the terms of the note, the amount is unsecured, accrues interest at 10% per annum, and is due on demand.  As of March 31, 2013, the Company recorded accrued interest of $1,280 (September 30, 2012 - $782) in accounts payable and accrued liabilities.

d)            On March 27, 2012, the Company issued a $9,985 promissory note to the President of the Company.  Under the terms of the note, the amount is unsecured, accrues interest at 10% per annum, and is due on demand.  As of March 31, 2013, the Company recorded accrued interest of $1,012 (September 30, 2012 - $514) in accounts payable and accrued liabilities.

e)             On February 15, 2013, the Company had $5,500 of expenses paid on its behalf by issued the President of the Company. The Company has since made a cash payment of $3,340 on this balance. The remaining balance of $2,160 is unsecured, non-interest bearing, and is due on demand.