December 31,
2013

 

December 31,
2012

 

 

 

 

 

 

 

 

 

Note payable to officers and shareholders of the Company. Principal along with accrued interest is payable on demand and paid on December 31, 2014. The notes bear interest at 18.5% and secured by all the assets of the Company.

 

$

229,787

 

$

165,738

 

Note payable secured by all the assets of Company and the guarantee of its President and CEO. The effective interest rate is 31%. The note is to be repaid in 12 blended monthly payments of $5,645.

 

 

37,383

 

 

46,737

 

Note payable to an officer of the Company due on December 31, 2013. The note bears interest at 7.49% and monthly principal payments of $2,691 plus accrued interest are required. The note is secured by all the assets of the Company.

 

 

11,297

 

 

45,734

 

 

 

$

278,467

 

$

258,209