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EXCEL - IDEA: XBRL DOCUMENT - Spotlight Innovation, Inc.Financial_Report.xls
10-Q - FORM 10-Q - Spotlight Innovation, Inc.aexp_10q.htm
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EX-32.1 - CERTIFICATION - Spotlight Innovation, Inc.aexp_ex321.htm
EX-31.2 - CERTIFICATION - Spotlight Innovation, Inc.aexp_ex312.htm
EX-31.1 - CERTIFICATION - Spotlight Innovation, Inc.aexp_ex311.htm
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v2.4.0.6
NOTES PAYABLE
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
Note 5 - NOTES PAYABLE

From June 2010 to December 2011, the Company entered the following notes with the same unrelated third party:

 

  Date   Stated     Original        
  Of   Interest     Principal   Due    
  Note   Rate     Amount   Date   Default
Promissory Note                  
#1 06/02/10     5 %   $ 50,000   On Demand   No
#2 02/04/11     5 %     30,000   On Demand   No
#3 05/04/11     5 %     35,000   On Demand   No
#4 08/11/11     10 %     20,000   On Demand   No
#5 12/05/11     10 %     20,000   On Demand   No

 

On April 28, 2012, the Company borrowed $30,000 pursuant to a note payable agreement with another unrelated third party. The note is due on demand and accrues interest at 10% per annum.

 

As of September 30, 2012, and through the date of this filing, the Company has not received a demand notice from the lender noted above for payment of principal or interest on these notes payable.