Quarterly report pursuant to Section 13 or 15(d)

Note Payable

v3.6.0.2
Note Payable
3 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
NOTE 4 - Note Payable

On December 31, 2012, the Company issued a note payable to an unrelated party for $45,000. The notes are due on September 30, 2015 and have an interest rate of 6%. The principal $45,000 was paid in July 2015. As of December 31, 2016, there is $6,865 of accrued interest payable balance.

 

On January 1st, 2016, the Company issued a note payable to an unrelated party for $14,000. The notes are due on September 30, 2016 and have an interest rate of 10%. As of December 31, 2016, the notes are in default, there is $14,000 of principal and $1,395 of accrued interest past due.