4. PROMISSORY NOTES RECEIVABLE (Details Narrative) (USD $)
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Jun. 30, 2012
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Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Additional transfer by company | $ 150,000 |
Promissory notes receivable | 220,875 |
Principal amount | 200,000 |
Interest accrued | 20,875 |
Initial advance | 50,000 |
MontclairTechnologyLLCMember
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Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Loan funds to the Borrower | $ 180,000 |
Interest rate on promissory note | 18.00% |
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- Definition
Custom Element. No definition available.
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- Definition
Custom Element. No definition available.
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- Definition
Long-Term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. This does not include advances to clients. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Recorded Investment in financing receivables that are past due at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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