Ë¿¹ÏÊÓƵ

Post-effective amendment to a registration statement that is not immediately effective upon filing

Notes Payable (Tables)

v2.4.0.8
Notes Payable (Tables)
4 Months Ended
Apr. 30, 2013
Notes Payable Tables [Abstract]  
Notes Payable

Notes payable consisted of the following at April 30, 2013, December 31, 2012 and 2011:


                         

 

 

April 30,

 

 

December 31,

 

 

 

2013

 

 

2012

 

 

2011

 

Note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5% [A]

 

$

300,000

 

 

$

300,000

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19% [A]

 

 

300,000

 

 

 

300,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note payable - originating February 25, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 25, 2014

 

 

100,000

 

 

 

100,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note payable - originating February 27, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 27, 2014

 

 

50,000

 

 

 

50,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note payable - originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014

 

 

50,000

 

 

 

50,000

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note payable for vehicle, 72 monthly payments of $618; interest at 8.4% through March 2014

 

 

-

 

 

 

-

 

 

 

15,151

 

Total

 

 

800,000

 

 

 

800,000

 

 

 

15,151

 

Less: Current maturities (notes payable)

 

 

-

 

 

 

-

 

 

 

(6,383

)

Less: Current maturities (convertible notes payable)

 

 

(200,000

)

 

 

-

 

 

 

-

 

Subtotal

 

 

600,000

 

 

 

800,000

 

 

 

8,768

 

Less: amount due after one year for notes payable

 

 

-

 

 

 

-

 

 

 

(8,768

)

Amount due after one year for convertible notes payable

 

$

600,000

 

 

$

800,000

 

 

$

-

 

-------

[A] - effective September 4, 2012, note amended to provide a maturity date of August 31, 2013. Effective December 17, 2012, note further amended to provide a maturity date of August 31, 2014.

Future maturities of notes payable

Future maturities of notes payable as of April 30, 2013 are as follows:


         

Year Ending April 30,

 

 

 

2014

 

$

200,000

 

2015

 

 

600,000

 

 

 

$

800,000