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Convertible Notes Payable
3 Months Ended
Mar. 31, 2013
Convertible Notes Payable  
Note 5 - Convertible Notes Payable

On February 1, 2013, the Company repaid convertible notes with an outstanding principal balance of $1,000,000 plus outstanding accrued interest of $163,861. The convertible notes bore interest at a rate of 7% per annum compounded annually and were due on December 31, 2012. The Company recorded amortization of debt discount associated with convertible notes payable of $82,616 for the three months ended March 31, 2012 using the effective interest method. As of December 31, 2012, the debt discount had been fully amortized.