HARBOR ISLAND DEVELOPMENT CORP. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - February 17, 2012
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Notes Payable
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9 Months Ended |
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Dec. 31, 2011
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| Notes Payable {1} | |
| Notes Payable | 3. Notes Payable
a) As of December 31, 2011, the Company had an outstanding note payable of $8,100 (March 31, 2011 - $8,100) to a non-related party. Under the terms of the note, the amount owing is unsecured, due interest at 10% per annum and due on demand. As at December 31, 2011, accrued interest of $1,471 (March 31, 2011 - $861) has been recorded in accrued liabilities.
b) As of December 31, 2011, the Company had outstanding note payables of $64,301 (March 31, 2011 - $53,551) to related parties. Under the terms of the notes, the amounts owing are unsecured, due interest at 10% per annum and due on demand. As at December 31, 2011, accrued interest of $8,323 (March 31, 2011 - $3,784) has been recorded in accrued liabilities. |
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