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Transition report pursuant to Rule 13a-10 or 15d-10

Loans Payable

v2.4.0.8
Loans Payable
4 Months Ended
Apr. 30, 2013
Notes To Financial Statements [Abstract]  
8. Loans Payable

Note 8. Loans Payable


During 2009, the Company received advances aggregating $200,000 from three individuals. From the date the funds were received through the date the loans were converted into convertible promissory notes payable, the loans were non-interest bearing demand loans and, therefore, no interest expense was recognized or due. As of December 31, 2011, the entire balance of the loans payable is included in long-term liabilities as the Company, in February 2012, has converted the loans into long-term convertible notes payable (See Note 9).