7. NOTES PAYABLE	6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]
NOTES PAYABLE	In May 2013 the Company obtained an installment loan in the principal amount of $35,000 to purchase a Ford F350 truck. Under the terms of the loan agreement, the loan bears interest at the rate of 4.5% per year and the Company has a monthly payment obligation of $1,042 until the loan’s maturity in May 2016. As of June 30, 2013, the remaining unpaid principal balance was $34,089.

7. NOTES PAYABLE

6 Months Ended

Jun. 30, 2013

In May 2013 the Company obtained an installment loan in the principal amount of $35,000 to purchase a Ford F350 truck. Under the terms of the loan agreement, the loan bears interest at the rate of 4.5% per year and the Company has a monthly payment obligation of $1,042 until the loan’s maturity in May 2016. As of June 30, 2013, the remaining unpaid principal balance was $34,089.

- 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

VADDA ENERGY CORP 10-Q