Alternative Energy Partners, Inc. - FORM 10-K - XML - IDEA: XBRL DOCUMENT - December 6, 2012

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EX-31 - CEO CERTIFICATION - Alternative Energy Partners, Inc.exhibit311.htm
EX-31 - PRINCIPAL ACCOUNTING OFFICER CERTIFICATION - Alternative Energy Partners, Inc.exhibit312.htm
EX-32 - CERTIFICATION - Alternative Energy Partners, Inc.exhibit32.htm
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MS Structured CMT Linked Trust Units Series 2010-01 - 10-K, Annual Report
v2.4.0.6
Payables and Accruals
 12 Months Ended
Jul. 31, 2012
Payables and Accruals:  
Accounts Payable and Accrued Liabilities Disclosure

During the quarter ended April 30, 2010, the Company recorded two separate loans payable to an affiliate, McDowell, LLC, totaling $12,500, and both remained payable as of July 31, 2012 and 2011.  The managing member of McDowell, LLC is Jack Stapleton, who was also sole officer and director of the Company at the time the two promissory notes were executed. The loans are represented by two promissory notes signed by Mr. Stapleton, bear interest at 8% per annum with principal and interest and are due on demand by the holder of the notes. As of July 31, 2012 and 2011, accrued interest payable was $2,425 and $1,425, respectively. On December 3, 2010, Mr. Stapleton, as Managing Member of McDowell, LLC, issued a written demand for payment of the notes and subsequently filed suit to collect on the two notes. A judgment has been entered in favor of McDowell, LLC.

 

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