Quarterly report pursuant to sections 13 or 15(d)

NOTES PAYABLE - Related Parties (Tables)

v2.4.0.6
NOTES PAYABLE - Related Parties (Tables)
3 Months Ended
Mar. 31, 2013
NOTES PAYABLE [Abstract]  
Schedule of Notes Payable to Related Parties, Current

The Company's notes payable to related parties classified as current consist of the following:


                                 

 

 

March 31, 2013

 

 

December 31, 2012

 

Notes Payable

 

Principal

 

 

Interest*

 

 

Principal

 

 

Interest*

 

Related party

 

$

151,965

 

 

 

2.5

%

 

$

85,755

 

 

 

2.5

%

Related party

 

 

45,000

 

 

 

1.5

%

 

 

25,000

 

 

 

1.5

%

President & COO

 

 

20,209

 

 

 

-

 

 

 

32,602

 

 

 

-

 

CEO

 

 

73,667

 

 

 

-

 

 

 

85,668

 

 

 

 

 

Total

 

$

290,841

 

 

 

 

 

 

$

229,025

 

 

 

 

 

-------

* interest rate per month