Posted On: 10/14/2013 5:11:09 PM
Post# of 7153
PC the only Debt we have is a 39k + interest due in 2015. $42k total. The 400k he is referring to has been in the last few financials before Natalie came around. Standard stuff to continue ongoing business. 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 3%.
| Derivative liabilities, October 31, 2010 | $ | - | ||
| Fair value at the commitment date for $38,000 convertible notes | 38,000 | |||
| Fair value, mark to market adjustment | 3,000 | |||
| Derivative liabilities, October 31, 2011 | 41,000 | |||
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