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LOANS PAYABLE
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3 Months Ended | |||
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Mar. 31, 2015
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| Loans Payable [Abstract] | ||||
| Debt Disclosure [Text Block] |
Loans payable to independent lenders of $100,000 at March 31, 2015 and December 31, 2014 consists of a note payable to a single lender. The note is dated March 7, 2014, bears interest at 8% per annum and is payable on demand. As of March 31, 2015, and December 31, 2014, the Company has accrued interest of $10,657 and $8,192 related to this note, respectively.
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- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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