General form of registration statement for all companies including face-amount certificate companies

Notes Payable - Shareholder

v2.4.0.6
Notes Payable - Shareholder
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
Notes Payable - Shareholder

NOTE 6 – Notes Payable - Shareholder
 
This amount is due to our Executive Vice President for advances made to the Company, bears interest at a weighted average rate of approximately 10% and is due on demand. The Company is in dispute with the shareholder as to the balance due but has recorded the full amount claimed by the shareholder.