NOTE 10 - LOANS PAYABLE - INSURANCE

On August 31, 2012, the Company incurred short term financing of $5,794 for the purchase of Directors' & Officers' insurance. The interest rate on the financing was 6.96% and will mature July 2013. As of March 31, 2013 and December 31, 2012 the balance on the note incurred for insurance financing was $1,774 and $3,517, respectively.