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Related Party Disclosures
3 Months Ended
Sep. 30, 2011
Related Party Disclosures 
Related Party Transactions Disclosure [Text Block]

Note 6 - Transactions with Related Parties

 

Due from Related Parties

 

Advances to family members of the stockholder are unsecured, non-interest bearing and due on demand. The Company has $0 and $138,000 due from related parties as of September 30, 2011 and December 31, 2010, respectively.

 

Due to Related Parties

 

Interest bearing notes payable to related parties consisting of the following as of September 30, 2011 and December 31, 2010:

 

 

September30,

December 31,

 

2011

2010

Unsecured note payable to a shareholder, with interest at 7.5% per annum. Note is in default and is payable on demand.

$5,000

$5,000

Expired convertible debt issued to a former employee, with interest at 7.5% per annum. The conversion maturity date was in October 2004. The note is payable on demand.

30,000

30,000

Expired convertible debt issued to a Director, with interest at 7.5% per annum. The conversion maturity date was in October 2005. The note is payable on demand.

56,960

56,960

Total notes payable

$91,960

$91,960