Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE - RELATED PARTIES (Tables)

v2.4.0.8
NOTES PAYABLE - RELATED PARTIES (Tables)
6 Months Ended
Jun. 30, 2014
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 as of June 30, 2014 and December 31, 2013:


                                 

 

 

June 30,

2014

 

 

December 31,

2013

 

Notes Payable

 

Principal

 

 

Interest*

 

 

Principal

 

 

Interest*

 

Related party

 

$

317,760

 

 

 

2.5

%

 

$

274,078

 

 

 

2.5

%

Related party

 

 

15,000

 

 

 

1.5

%

 

 

20,000

 

 

 

1.5

%

CEO - Related Party

 

 

32,400

 

 

 

-

 

 

 

36,009

 

 

 

 

 

Total

 

$

365,160

 

 

 

 

 

 

$

330,087

 

 

 

 

 

-------

* interest rate per month