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EXCEL - IDEA: XBRL DOCUMENT - HK BATTERY TECHNOLOGY INCFinancial_Report.xls
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EX-21.1 - EXHBIT 21.1 SUBSIDIARIES OF THE REGISTRANT - HK BATTERY TECHNOLOGY INCsubsidiaries_ex21z1.htm
EX-31.1 - EXHIBIT 31.1 SECTION 302 CERTIFICATION - HK BATTERY TECHNOLOGY INCsection302cert_ex31z1.htm
EX-32.1 - EXHIBIT 32.1 SECTION 906 CERTIFICATION - HK BATTERY TECHNOLOGY INCsection906cert_ex32z1.htm
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10-K - FORM 10-K ANNUAL REPORT - HK BATTERY TECHNOLOGY INCannualreport_10k.htm
v2.4.0.6
NOTES RECEIVABLE - RELATED PARTIES
12 Months Ended
Dec. 31, 2011
NOTES RECEIVABLE - RELATED PARTIES  
NOTES RECEIVABLE - RELATED PARTIES

NOTE 4 – NOTES RECEIVABLE – RELATED PARTIES

 

On January 26, 2011, the Company made a loan of $200,000 to Hybrid Kinetic Motors Corporation, a related party.  On February 24, 2011, the Company made a loan of $400,000 to American Compass Inc., a related party; and on March 24, 2011, the Company made an additional loan of $400,000 to American Compass Inc.  On various dates from April to June, the Company has made additional loans with American Compass Inc. in the amount of $800,000, bring the total notes receivable from this party to $1,600,000. $480,000 was repaid during the year, bringing the new total to $1,120,000. Each of these loans is unsecured and due on demand with 3% interest per annum. As of December 31, 2011, total notes receivable were $1,320,000.

 

These loans led to interest receivables in the amount of $15,724 as of December 31, 2011.