Quarterly report pursuant to sections 13 or 15(d)

NOTES PAYABLE - Related Parties (Tables)

v2.4.0.8
NOTES PAYABLE - Related Parties (Tables)
6 Months Ended
Jun. 30, 2013
NOTES PAYABLE - Related Parties [Abstract]  
Schedule of Notes Payable to Related Parties, Current

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


                                 

 

 

June 30,

2013

 

 

December 31,

2012

 

Notes Payable

 

Principal

 

 

Interest*

 

 

Principal

 

 

Interest*

 

Related party

 

$

178,090

 

 

 

2.5

%

 

$

85,755

 

 

 

2.5

%

Related party

 

 

45,000

 

 

 

1.5

%

 

 

25,000

 

 

 

1.5

%

President & COO

 

 

-

 

 

 

-

 

 

 

32,602

 

 

 

-

 

CEO

 

 

65,417

 

 

 

-

 

 

 

85,668

 

 

 

 

 

Total

 

$

288,507

 

 

 

 

 

 

$

229,025