Notes Payable - Related Parties

6 Months Ended

Mar. 31, 2013

Notes Payable - Related Parties [Abstract]

Notes Payable - Related Parties

Note 5 – Notes Payable – Related Parties

The Company has received advances in the form of unsecured promissory notes from stockholders. The original date of these advances was November 2009, March 2011, October 2011 and March 2013. These notes bear interest at rates up to 10% and are due on demand. As of March 31, 2013 and December 31, 2012, such notes payable amounted to $45,000 and $25,000, respectively. Accrued interest on the notes amounted to $21,081 and $20,356 at March 31, 2013 and December 31, 2012, respectively, and is included in accrued expenses. Interest expense on these notes for the three months ended March 31, 2013 and 2012 amounted to $725 and $639, respectively. No demand for payment has been made as of March 31, 2013.