Quarterly report pursuant to Section 13 or 15(d)

Loans Payable

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Loans Payable
6 Months Ended
Sep. 30, 2014
Loans Payable [Abstract]  
Loans Payable
4. Loan Payable

 

On October 29, 2011, the Company’s wholly owned subsidiary, PGEP, assumed a $705,527 (£435,000) loan, bearing interest at 6.5% per annum and due on December 31, 2013. The loan was made for the exclusive purpose of assisting in financing the consulting work required to obtain planning permission for a biomass power plant, which is being conducted through EPSB. On April 15, 2012, the lender agreed to waive its right to interest on the loan.