• Filing Date: 2013-04-12
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Summary of amounts due to unrelated parties (Details) (USD $)
Principal Amount
Discount
Principal Net of Discount
Accrued Interest
Total of notes payables at Dec. 31, 2010 $ 0     $ 0
Convertible promissory note at 12% per annum 560,000 (284,959) 275,041 51,367
Three notes with the same terms to the same unrelated party at 8% per annum 120,000 (61,811) 58,189 3,894
Total of notes payables; at Dec. 31, 2011 680,000 (346,770) 333,230 55,261
Total of notes payables at Dec. 31, 2011        
Notes payables at 13% per annum 223,500   223,500 29,539
Notes payables at 10% per annum 43,847   43,847 536
Third Quarter 2012 Secured Subordinated Promissory Notes 860,000   860,000 65,149
Notes payables at 10% per annum, 20,000   20,000 570
Notes payables with default interest rate of 15 per annum 51,300   51,300 1,357
Notes payables at 9% per annum 35,000   35,000 186
Notes payables at 10% per annum;, 75,000   75,000 521
Notes payables at 9% per annum, 50,000   50,000 263
Convertible promissory note at 12% per annum, 200,000   200,000  
March 2012 Convertible promissory note at 5% per annum 175,000   175,000 11,281
Second Quarter 2012 Convertible Notes at 9% per annum 25,000   25,000 1,628
May 30, 2012 convertible note with discount of 10% 73,645 (18,005) 55,640 2,750
Total of notes payables,, at Dec. 31, 2012 $ 1,832,292 $ (18,005) $ 1,814,287 $ 113,781