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Quarterly report pursuant to Section 13 or 15(d)

Loan Payable Officer - Related Party

v3.3.1.900
Loan Payable Officer - Related Party
9 Months Ended
Jan. 31, 2016
Loans Payable, by Type, Current and Noncurrent [Abstract] Ìý
Loan Payable Officer, Related Party

Note 6. Loan Payable Officer – Related Party

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On June 28, 2013, the Company received $1,000,000 as a loan from the CompanyÂ’s Chief Executive Officer. This loan was for a term of 6 months with an annual interest rate of 10%, payable monthly. Through various note extensions, the debt was extended to May 31, 2017. There was no accounting effect for these extensions.