XML 41 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
9. SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
9. SUBSEQUENT EVENTS

On January 14, 2014, the holders of the $96,463 Convertible Note Payable dated April 1, 2013 elected to convert principal and interest in the amount of $20,000 into 2,000,000 shares of common stock. As a result of these conversions, unamortized discount in the amount of $10,450 was immediately amortized to interest expense.  The converted amount of principal and accrued unpaid interest in the total amount of $20,000 was recognized as an increase in stockholders’ equity as a result of these conversions.  There was no gain or loss on these conversions, because they were effected in accordance with the terms of the convertible note agreement.

On January 27, 2014, the holder of the $167,185 Convertible Note Payable dated June 30, 2013 elected to convert principal and interest in the amount of $20,000 into 2,000,000 shares of common stock. As a result of these conversions, unamortized discount in the amount of $7,348 was immediately amortized to interest expense. The converted amount of principal and accrued unpaid interest in the total amount of $20,000 was recognized as an increase in stockholders’ equity as a result of these conversions. There was no gain or loss on these conversions, because they were effected in accordance with the terms of the convertible note agreement.

On January 30, 2014, the holder of the $167,185 Convertible Note Payable dated June 30, 2013 elected to convert principal and interest in the amount of $20,000 into 2,000,000 shares of common stock. As a result of these conversions, unamortized discount in the amount of $14,044 was immediately amortized to interest expense. The converted amount of principal and accrued unpaid interest in the total amount of $20,000 was recognized as an increase in stockholders’ equity as a result of these conversions. There was no gain or loss on these conversions, because they were effected in accordance with the terms of the convertible note agreement.