NOTES PAYABLE	9 Months Ended
Jun. 30, 2012
Notes to Financial Statements
Note 8. NOTES PAYABLE	On April 2, 2012 the Company issued a $175,000 Note to an accredited investor. The Note accrues PIK interest at 0.25% per annum, with the principal and PIK interest due at maturity (December 31, 2014). In connection with the Note, the Company issued warrants to purchase 29,047,619 shares of no-par common stock for $36. The warrants were recorded at fair value, resulting in the recognition of $24,585 as debt discount. On April 16, 2012 the Company issued a $175,000 Note to another accredited investor. The Note also accrues PIK interest at 0.25% per annum, with the principal and PIK interest due at maturity (December 31, 2014). In connection with the Note, the Company issued warrants to purchase 29,047,619 shares of no-par common stock for $36. The warrants were recorded at fair value, resulting in the recognition of $24,585 as debt discount

NOTES PAYABLE

9 Months Ended

Jun. 30, 2012

On April 2, 2012 the Company issued a $175,000 Note to an accredited investor. The Note accrues PIK interest at 0.25% per annum, with the principal and PIK interest due at maturity (December 31, 2014). In connection with the Note, the Company issued warrants to purchase 29,047,619 shares of no-par common stock for $36. The warrants were recorded at fair value, resulting in the recognition of $24,585 as debt discount.

On April 16, 2012 the Company issued a $175,000 Note to another accredited investor. The Note also accrues PIK interest at 0.25% per annum, with the principal and PIK interest due at maturity (December 31, 2014). In connection with the Note, the Company issued warrants to purchase 29,047,619 shares of no-par common stock for $36. The warrants were recorded at fair value, resulting in the recognition of $24,585 as debt discount

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

ChatChing Inc. 10-Q