Loan payable consists of followings:
$114,327 (June 30, 2012 $111,006) was payable to 0787129
B.C. Ltd. of which $51,272 and $34,827 were the result of the assignment and transfer from loan payable to ATP Corporate Services
Corp. and Bobcat Development, respectively. The loan amount is unsecured, interest-bearing at 12% per annual and due on demand.
During the period ended September 30, 2012, the Company incurred and accrued interest expense of $3,321.
During the three months ended September 30, 2012, Bobcat Development
(a non-related party) advanced the Company loan amount of $6,023. The loan amount is unsecured, interest-bears at 12% per annual
and due on demand.