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RELATED PARTY TRANSACTIONS
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3 Months Ended |
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Mar. 31, 2013
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| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
NOTE 8 – RELATED PARTY TRANSACTIONS
Loans from Shareholders
Occasionally, officers will loan money at 6% interest rate to the Company to support working capital. As of December 31, 2012 the Company owed its CEO $5,470. During the three months ended March 31, 2013 the Company repaid $4,900 on the loan balance. For the period end March 31, 2013 and December 31, 2012 the Company recognized $51 and $328, respectively, of interest expense on the loan. The expense was recorded as additional paid in capital.
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- Details
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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