Quarterly report pursuant to Section 13 or 15(d)

Advances for Subscription Agreements

v2.3.0.15
Advances for Subscription Agreements
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
Note 8.Advances for Subscription Agreements

During the quarter ended September 30, 2011, $592,000 in cash was advanced to the Company by certain third party investors for working capital purposes.  All of the investors are expected to sign subscriptions agreements converting the advances to common stock at $1 per share in the quarter ending December 31, 2011.  The Company recorded the transactions as advances payable that bear interest at 9%, have no fixed terms of repayment and are unsecured.