Quarterly report pursuant to sections 13 or 15(d)

NOTES PAYABLE - Related Parties (Tables)

v2.4.0.8
NOTES PAYABLE - Related Parties (Tables)
9 Months Ended
Sep. 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:


                     

 

 

September 30, 2013

 

December 31, 2012

Notes Payable

 

Principal

 

Interest*

 

Principal

 

Interest*

Related party

 

$

212,565

 

2.5%

 

$

85,755

 

2.5%

Related party

 

 

25,000

 

1.5%

 

 

25,000

 

1.5%

President & COO

 

 

-

 

-

 

 

32,602

 

-

CEO

 

 

51,030

 

-

 

 

85,668

 

 

Total

 

$

288,595

 

 

 

$

229,025

 

 

-------

*

interest rate per month