BARCLAY ROAD, INC. - FORM 10-K - XML - IDEA: XBRL DOCUMENT - April 16, 2012
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ADVANCES FROM RELATED PARTIES
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12 Months Ended | ||
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Dec. 31, 2011
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| ADVANCES FROM RELATED PARTIES | |||
| ADVANCES FROM RELATED PARTIES |
During the years ended December 31, 2011 and 2010, the Company received $50,133 and $1,403, respectively from certain shareholders to pay obligations for the Company. These advances are interest free and are due on demand. On September 28, 2011, the Company agreed to issue the debt holders 100,000,000 shares of common stock to liquidate outstanding debt of $20,000, which shares were issued in October 2011. The balance of the debt in the amount of $57,551 was forgiven and the Company recorded the forgiveness as a contribution to paid-in-capital from the debt holders and increased paid-in-capital for the same amount.
As of December 31, 2011 and 2010, the Company owed these related parties $-0- and $27,418, respectively. |
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