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NOTE 7. NOTES PAYABLE
6 Months Ended
Oct. 31, 2015
Debt Disclosure [Abstract]  
NOTE 7. NOTES PAYABLE

NOTE 7. NOTES PAYABLE

 

Promissory Notes

 

During the period ended October 31, 2015, an unrelated party advanced funds in the amount of $32,265 to fund operations and provide working capital. Unpaid balances are due on demand and accrue an annual interest rate of 5%. At October 31, 2015 and April 30, 2015, the notes had a principle balance of $51,221 and $18,956 and accrued interest of $953 and $116, for a total amount outstanding of $52,174 and $19,072, respectively.

 

Note Payable

 

   

October 31,

2015

 

April 30,

2015

Note dated April 30, 2015, to Warwick Overseas, LLC, interest at 5%, due in two installments of $125,000 at the end of each year, term of two years $ 250,000 $ 250,000
Total note payable   250,000   250,000
Less current portion of Note payable   125,000   125,000
Total-term portion of note payable $ 125,000 $ 125,000

 

 

At October 31, 2015 and April 30, 2015, accrued interest of $6,301 and $0, respectively, has been accrued on this note payable.