Advances From Third Parties | 3 Months Ended |
Apr. 30, 2014 |
Notes | ' |
Advances From Third Parties | ' |
NOTE 5 - ADVANCES FROM THIRD PARTIES |
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On June 12, 2012, the Company entered into a loan agreement with a third party for up to a maximum of $50,000. This loan is non-interest bearing and had an original maturity date of September 1, 2012, which was ultimately extended to December 31, 2013. This loan is in default. As of April 30, 2014 and July 31, 2013, $35,544 and $32,450, respectively, were due to the third party for the advances. |
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On November 16, 2012, the Company entered into a loan agreement with a third party. Per the terms of the agreement, the third party will advance to the Company a loan of funds and/or payment of third party expenses to a maximum of $50,000. This loan is non-interest bearing, and all funds were to be repaid on or before January 31, 2013, unless the parties agreed otherwise. The maturity date was ultimately extended to December 31, 2013. This loan is in default. As of April 30, 2014 and July 31, 2013, $35,831 was due to the third party for the advances. |
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On July 31, 2013, the Company entered into a loan agreement to support its operations, which was effective as of May 1, 2013. Per the terms of the agreement, the lender will advance to the Company a loan of funds and/or payment of third party expenses to a maximum of $40,000. This loan is non-interest bearing, and all funds are to be repaid on or before December 31, 2013, unless the parties agree otherwise. This loan is in default. As of April 30, 2014 and July 31, 2013, $38,359 and $23,104, respectively, were due to the third party for the advances. |
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As of April 30, 2014 and July 31, 2013, $109,734 and $91,385, respectively, were due to the third parties for the advances. |