XML 26 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
DEBT DISCOUNT
3 Months Ended
Dec. 31, 2012
DEBT DISCOUNT [Abstract]  
DEBT DISCOUNT
NOTE 8 – DEBT DISCOUNT

We recorded interest expense to amortize the debt discount in the amount of $171,510 for the quarter ending December 31, 2012, which includes all of the outstanding Convertible Short-Term Notes.  
 
In connection with the sale of a Convertible Promissory Note Agreement on February 23, 2011, with an unaffiliated third party, JMJ Financial (the "Lender" or "JMJ"), relating to a private placement of a total of up to $1,800,000 in principal amount of a Convertible Promissory Note (the "Note") providing for advances of a gross amount of $1,600,000 in seven tranches, we recorded interest expense to amortize the debt discount in the amount of $9,723 during the quarter ending December 31, 2012.  
There remains a total of $429,408 of debt discount yet to be amortized as of December 31, 2012.