Annual report pursuant to Section 13 and 15(d)

Notes Payable - Shareholder

Notes Payable - Shareholder
12 Months Ended
Dec. 31, 2012
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.