XML 16 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
5. NOTES PAYABLE (Details) (USD $)
Jun. 30, 2013
Principal amount $ 415,620
Accrued interest 58,927
Lutz Investments, LP
  
Nature of relationship

Mr. Lutz is the CEO of the Company
Terms of the agreement

Convertible note payable due March 31, 2012. The note is convertible at $0.19 per share. As of June 30, 2013, the note has not been converted and is past due.
Principal amount 200,000
Accrued interest 23,165
Dr. Philip J. Rubinfeld
  
Nature of relationship

Mr. Rubinfeld is a member of the Board of Directors
Terms of the agreement

See “Third Quarter 2012 Secured Subordinated Promissory Notes” As of June 30, 2013, $100,000 of this note remains due.
Principal amount 100,000
Accrued interest 15,483
Araldo A. Cossutta
  
Nature of relationship

Mr. Cossutta is a member of the Board of Directors
Terms of the agreement

See “Third Quarter 2012 Secured Subordinated Promissory Notes” As of June 30, 2013, $75,000 of this note remains due.
Principal amount 75,000
Accrued interest 11,612
MAH Holding, LLC
  
Nature of relationship

MAH Holding, LLC has provided previous lines of credit to affiliates of WMT.
Terms of the agreement

Unsecured note with interest accrued at 10% per annum, due on demand.
Principal amount 40,620
Accrued interest $ 8,667