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NOTE 6 – NOTE PAYABLE – LINE OF CREDIT
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9 Months Ended |
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Sep. 30, 2011
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| Notes to Financial Statements | |
| NOTE 6 – NOTE PAYABLE – LINE OF CREDIT | NOTE 6 – NOTE PAYABLE – LINE OF CREDIT
The Company has a line of credit with Wachovia Bank N.A. The line of credit provides for borrowings up to $40,000. The balance as of September 30, 2011 and December 31, 2010 was $34,507 and $36,141, respectively. The interest rate is the Prime Rate plus 3%. The President of the Company is a personal guarantor on the line of credit.
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