Duos Technologies Group, Inc. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

NOTE 6 - NOTE PAYABLE - FACTORING

NOTE 6 - NOTE PAYABLE - FACTORING	3 Months Ended
Mar. 31, 2012
Notes to Financial Statements
NOTE 6 – NOTE PAYABLE – FACTORING	NOTE 6 – NOTE PAYABLE – FACTORING On December 12, 2011, the Company entered into a purchase and sale agreement with a third party account receivable factoring company. The agreement continues in effect as long as there is an outstanding balance owed by the Company. The agreement requires a payment of 3% for the first thirty days and 1/10 of 1 percent thereafter on the face amount of the accounts receivable financed. The balance at March 31, 2012 and December 31, 2011 was $78,628 and $115,126, respectively.

NOTE 6 - NOTE PAYABLE - FACTORING

3 Months Ended

Mar. 31, 2012

NOTE 6 – NOTE PAYABLE – FACTORING

On December 12, 2011, the Company entered into a purchase and sale agreement with a third party account receivable factoring company. The agreement continues in effect as long as there is an outstanding balance owed by the Company. The agreement requires a payment of 3% for the first thirty days and 1/10 of 1 percent thereafter on the face amount of the accounts receivable financed. The balance at March 31, 2012 and December 31, 2011 was $78,628 and $115,126, respectively.