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NOTE 5 - NOTES PAYABLE
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
NOTE 5 - NOTES PAYABLE

NOTE 5 - NOTES PAYABLE

 

 

Short term notes payable at March 31, 2012 consist of the following:

   
     
Unsecured note payable to a shareholder bearing 8% interest.
Entire balance of principal and unpaid interest due on demand   $ 124,230  
         
Unsecured note payable to a shareholder bearing 10% interest        
Entire balance of principal and unpaid interest due on demand   $ 649,049  
         
Total current   $ 773,279  
         
2012   $ 773,279  
2013   $ -0-  
2014   $ -0-  
2015   $ -0-  

2016

 

  $ -0-  
    $ 773,279