NOTE PAYABLE - STOCKHOLDER	3 Months Ended
Oct. 31, 2011
Notes to Financial Statements
Note 2.NOTE PAYABLE - STOCKHOLDER	During April 2004, the majority shareholder of the Company loaned the Company $26,500. Interest is being accrued on this note at the rate of 10% per annum. As at October 31, 2011, the interest accrued on the loan is $20,090. The note payable and accrued interest are payable on demand. During the year ended July 31, 2011, the President of the Company made payments of $655 on behalf of the Company, which was outstanding at July 31, 2011. During the three months ended October 31, 2011, the President of the Company made payments of $8,363 on behalf of the Company, which was outstanding at October 31, 2011. These advances from the President are unsecured, non-interest bearing and payable upon demand.

NOTE PAYABLE - STOCKHOLDER

3 Months Ended

Oct. 31, 2011

During April 2004, the majority shareholder of the Company loaned the Company $26,500. Interest is being accrued on this note at the rate of 10% per annum. As at October 31, 2011, the interest accrued on the loan is $20,090. The note payable and accrued interest are payable on demand.

During the year ended July 31, 2011, the President of the Company made payments of $655 on behalf of the Company, which was outstanding at July 31, 2011.

During the three months ended October 31, 2011, the President of the Company made payments of $8,363 on behalf of the Company, which was outstanding at October 31, 2011. These advances from the President are unsecured, non-interest bearing and payable upon demand.

VICTORY EAGLE RESOURCES CORP. 10-Q