Quarterly report pursuant to Section 13 or 15(d)

Notes Payable - Shareholder

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Notes Payable - Shareholder
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Notes Payable - Shareholder

8. Notes Payable – Shareholder . This amount is due to our former 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.