Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE TO STOCKHOLDERS

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NOTES PAYABLE TO STOCKHOLDERS
6 Months Ended
Mar. 31, 2016
NOTES PAYABLE TO STOCKHOLDERS [Abstract]  
NOTES PAYABLE TO STOCKHOLDERS

NOTE 4   - NOTES PAYABLE TO STOCKHOLDERS


 

In November 2015, the Company entered into a promissory note for $50,000 with a stockholder and director of the Company. The note bears an 8% interest rate, is unsecured and is due on December 31, 2016.

 

Interest expense on the notes payable to stockholders was $5,572 and $3,137 for the three months ended March 31, 2016 and 2015, respectively. Interest expense on the notes payable to stockholders was $23,837 and $3,137 for the six months ended March 31, 2016 and 2015, respectively.