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Hike

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Hike

Re: liable post# 29510

Monday, 01/16/2012 1:43:59 PM

Monday, January 16, 2012 1:43:59 PM

Post# of 65560
Just to save time this is from last 10Q (7/31/11)



Note 6 - Notes Payable
On April 1, 2010 the Company issued a promissory note to Perati Finance Corporation for $38,000. The note matures in five years and accrues interest at 8%. The loan is convertible to common stock at a conversion price of 58% of the market price. The balance on this note as at July 31,2011 is $38,000 plus accrued interest which is reflected in accounts payable of $3,518.

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