Quarterly report pursuant to Section 13 or 15(d)
Cover
Document and Entity Information
Financial Statements
Balance Sheets
Balance Sheets (Parenthetical)
Statements of Operations
Statements of Cash Flows
Notes to Financial Statements
COMPANY BACKGROUND
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GOING CONCERN
FIXED ASSETS
RELATED PARTY TRANSACTIONS
NOTES PAYABLE
COMMITMENTS AND CONTINGENCIES
FINANCIAL HIGHLIGHTS
NOTES PAYABLE
v2.4.0.6
NOTES PAYABLE
12 Months Ended
Mar. 31, 2013
Notes to Financial Statements
NOTES PAYABLE
NOTE 6 NOTES PAYABLE
Notes payable consist of the following for the periods ended;
3/31/2013
12/31/2012
Debentures at 10%, unsecured, were to be convertible into
common shares at the option of the holder, all debentures
are currently in default.
10,383
10,383
Short term unsecured working capital demand notes, with
stated interest rate of 10%. Reclassified back into notes
payable after the Company confirmed status during the last
fiscal audit of the 2010 year-end.
20,000
20,000
Total Notes Payable
30,383
30,383
Less Current Portion
30,383
30,383
Long Term Notes Payable
$
0
$
0
The aggregate principal maturities of notes payable are as follows:
All are classified as short term by the Company. During these periods, the
Company was in default on two notes payable. The note holders have not
taken any legal action against the Company as permitted by the agreements.
Accrued interest on these notes totaled:
$
17,066
$
16,488
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