벎떨APP눈첵

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

9. Notes Payable (Tables)

9. Notes Payable (Tables)

12 Months Ended

Dec. 31, 2012

Notes Payable Tables

Notes payable consisted of the following at December 31, 2012 and 2011:

		December 31, 2012				December 31, 2011

Note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5%; due on demand [A]		$	300,000			$	-

Note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19%; maturing at March 31, 2013 [A]			300,000				-

Note payable - originating February 25, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 25, 2014			100,000				-

Note payable - originating February 27, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 27, 2014			50,000				-

Note payable - related party originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014			50,000				-

Note payable for vehicle, 72 monthly payments of $618; interest at 8.4% through March 2014			-				15,151
Total			800,000				15,151
Less: Current maturities (notes payable)			-				(6,383	)
Less: Current maturities (convertible notes payable)			-				-
Subtotal			800,000				8,768
Less: amount due after one year for notes payable			-				(8,768	)
Amount due after one year for convertible notes payable		$	800,000			$	-

Future maturities of notes payable

Future maturities of notes payable are as follows:

Year Ending December 31,
2013		$	-
2014			800,000
		$	800,000