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11. Notes payable (Tables) | 3 Months Ended
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Mar. 31, 2013
Notes Payable Tables |
Debt Disclosure | Notes payable were as follows:
|  | March 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
Notes payable from ProElite to various individuals dated October 20, 2011 with maturity of July 20, 2012, plus interest at 8%, convertible into common stock of ProElite at noteholder's election. Secured by the assets of ProElite. These notes are currently in default. |  | $ | 1,083,000 |  |  | $ | 1,063,000 |
Note payable to a shareholder upon the earlier of completion of $1,000,000 in funding, or May 24, 2012, plus interest at 0.19%, secured by the assets of ProElite. This note is in default. This noteholder has a warrant to purchase ProElite shares at $0.05 per share that increases each month when the loan is in default. As of December 31, 2012, he had a resulting warrant to purchase 36% of ProElite. This note is currently in default. |  |  | 1,000,000 |  |  |  | 1,000,000 |
Note payable from ProElite to one party dated October 19, 2012 with maturity of the earlier of October 19, 2013 or completion of an equity offering by Stratus, at which time the note will convert into equity based on the terms of that offering at 50% of the price of that offering. Bears interest at 7% and is secured by the assets of ProElite. |  |  | 500,000 |  |  |  | 500,000 |
Note payable to the Company's outside law firm and represents the corporate and litigation fees due as of June 30, 2012. This note bears interest at 3% and was due December 31, 2012. This note is currently in default. |  |  | 486,104 |  |  |  | 486,104 |
Notes payable to three holders dated May 11, 2012 with maturity of the earlier of November 11, 2012 or when a finacing is completed of $2,000,000 or more, plus interest at 10%, secured by the assets of the Company. This note is currently in default. |  |  | 350,000 |  |  |  | 350,000 |
Notes payable to 11 investors dated July 9, 2012 with maturity date on the earlier of a $2 million capital raise by the company, or February 6, 2013 and bear interest at 8%. This note is currently in default. |  |  | 275,000 |  |  |  | 275,000 |
Notes payable to one holder dated April 4, 2012 with original maturity on October 4, 2012, plus interest at 10%. Unsecured. An amendment to this note on Octoboer 2, 2012 changed the maturity date to January 4, 2013. This note is currently in default. |  |  | 249,999 |  |  |  | 249,999 |
Note payable to one holder dated March 5, 2013 with maturity on the earlier of September 5, 2013 or receipt by the Company of $200,000 in net proceeds from a private placement of Company securities. This note does not bear interest and is not secured. |  |  | 200,000 |  |  |  | – |
Note payable to a shareholder dated January 14, 2005, with maturity of May 14, 2005, plus interest at 10%. Unsecured. This note is currently in default. |  |  | 70,000 |  |  |  | 70,000 |
Note payable to a shareholder dated February 1, 2005 with maturity of June 1, 2005, plus interest at 10%. Unsecured. This note is currently in default. |  |  | 10,000 |  |  |  | 10,000 |
|  | $ | 4,224,103 |  |  | $ | 4,004,103 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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