Notes Payable - Shareholder
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12 Months Ended |
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Dec. 31, 2012
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Payables and Accruals [Abstract] | |
Notes Payable - Shareholder |
NOTE 7 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. We recorded interest expense of $0 and $42,765 to the shareholder for the years ended December 31, 2012 and 2011 respectively. |
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- Definition
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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