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4. NOTES PAYABLE
6 Months Ended
Jun. 30, 2012
Debt Disclosure [Abstract]  
NOTE 4 - NOTES PAYABLE

During the six month period ended June 30, 2012, the Company borrowed an aggregate of $230,000 from third parties under various promissory note agreements. The promissory notes all bear interest at 12.0% per annum, and are due on or before February 21, 2014. No principal or interest payments have been made on these notes. As of June 30, 2012 and December 31, 2011, the Company had total notes payable amounting to $955,014 and $753,139 respectively

 

The interest expense on these notes payable for the six months ended June 30, 2012 and 2011 amounted to $66,689 and $50,301, respectively.