Duos Technologies Group, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Note 15 - Note Payable - Insurance

Note 15 - Note Payable - Insurance	12 Months Ended
Dec. 31, 2011
Notes to Financial Statements
Note 15 - Note Payable - Insurance	NOTE 15 – NOTE PAYABLE – INSURANCE On August 31, 2011, the Company incurred short term financing for the purchase of insurance. The note was for $9,813. The interest rate on the debt is 4.96% and is scheduled to be repaid by May 31, 2012. The balance as of December 31, 2011 was $ 3,896. On February 28, 2011, the Company incurred short term financing for the purchase of worker’s compensation insurance. The note was for $3,353. Payments require a monthly service fee of $4 in lieu of a state interest rate. The balance as of December 31, 2011 was $277. On August 31, 2010, the Company incurred short term financing for the purchase of insurance. The note was for $5,720. The interest rate on the debt is 4.96% and is scheduled to be repaid by May 31, 2011. The balance as of December 31, 2010 was $ 3,204.

Note 15 - Note Payable - Insurance

12 Months Ended

Dec. 31, 2011

NOTE 15 – NOTE PAYABLE – INSURANCE

On August 31, 2011, the Company incurred short term financing for the purchase of insurance. The note was for $9,813. The interest rate on the debt is 4.96% and is scheduled to be repaid by May 31, 2012. The balance as of December 31, 2011 was $ 3,896.

On February 28, 2011, the Company incurred short term financing for the purchase of worker’s compensation insurance. The note was for $3,353. Payments require a monthly service fee of $4 in lieu of a state interest rate. The balance as of December 31, 2011 was $277.

On August 31, 2010, the Company incurred short term financing for the purchase of insurance. The note was for $5,720. The interest rate on the debt is 4.96% and is scheduled to be repaid by May 31, 2011. The balance as of December 31, 2010 was $ 3,204.