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EXCEL - IDEA: XBRL DOCUMENT - RECEIVABLE ACQUISITION & MANAGEMENT CORPFinancial_Report.xls
10-K - ANNUAL REPORT - RECEIVABLE ACQUISITION & MANAGEMENT CORPramc_10k.htm
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EX-31.1 - CERTIFICATION - RECEIVABLE ACQUISITION & MANAGEMENT CORPramc_ex31.htm
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EX-32.1 - CERTIFICATION - RECEIVABLE ACQUISITION & MANAGEMENT CORPramc_ex32.htm
XML - IDEA: XBRL DOCUMENT - RECEIVABLE ACQUISITION & MANAGEMENT CORPR7.htm
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v2.4.0.6
NOTES PAYABLE
12 Months Ended
Sep. 30, 2012
Notes  
NOTES PAYABLE

NOTE 9 - NOTES PAYABLE

 

On May 4, 2011, the Company issued a convertible note payable in the amounts of $50,000 to Brent Grady and $50,000 to Dr. Rizwan Chaudhry, at an annual interest rate of 5%. The note is due on November 4, 2012. On August 10, 2011, the Company issued a convertible note payable in the amounts of $40,000 and $30,000 to BMS Associates and Farheen Shadab, at an annual interest rate of 5%. The note is due on February 10, 2013. Brent Grady note of $50,000, BMS Associates note of $40,000 and the Farheen Shadab note of $30,000 have been paid back without interest and penalty and the Company continues to accrue interest on the remaining notes.