Annual report pursuant to Section 13 and 15(d)

Notes Payable (Tables)

v2.4.0.8
Notes Payable (Tables)
12 Months Ended
Dec. 31, 2013
Notes Payable [Abstract]  
Notes payable represent promissory notes payable
 
 
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