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NOTE PAYABLE TO STOCKHOLDER
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9 Months Ended |
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Jun. 30, 2012
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| NOTE PAYABLE TO STOCKHOLDER [Abstract] | |
| NOTE PAYABLE TO STOCKHOLDER |
NOTE 5 -NOTE PAYABLE TO STOCKHOLDER
On December 9, 2011, the Company received an additional $45,000 from an existing noteholder per the terms of an amendment to a secured promissory note payable executed in June 2011. In April 2012, the noteholder assigned $50,000 of principal due under the terms of the note to four separate entities. Subsequently the four noteholders converted the $50,000 of promissory notes into 20,000,000 shares of the company's common stock. Total principal due at June 30, 2012 under the amended note is $110,000. The original note and the amendment call for interest payable at 10% quarterly with a maturity date of December 31, 2012.
On June 26, 2012 the Company entered into a promissory note for $10,000 with an existing noteholder. The note bears a 10% interest rate, unsecured and is due on December 31, 2013. |