Annual report pursuant to Section 13 and 15(d)

NOTES PAYABLE

v2.4.0.6
NOTES PAYABLE
12 Months Ended
Sep. 30, 2012
Notes Payable [Abstract]  
NOTES PAYABLE
NOTE 4 – NOTES PAYABLE
 
On March 24, 2012, the Company entered into a financing arrangement for its directors and officers insurance policy in the amount of $48,300. The financing arrangement bears interest at 11.5% and will be fully paid in 12 months from the date of issuance. As of September 30, 2012, the Company had repaid $39,251 of principal and had paid interest of $1,329 in cash.

On June 30, 2012, the Company entered into a financing arrangement for its clinical trial insurance in the amount of $24,438. The financing arrangement bears interest at 12.95% and will be fully paid in 12 months from the date of issuance. As of September 30, 2012, the Company had repaid $13,450 of principal and had paid interest of $488 in cash.