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Note Payable
 12 Months Ended
Dec. 31, 2012
Notes Payable [Abstract]  
Note Payable [Text Block]

Note 13 – Note Payable

 

On November 30, 2012 the Company purchased two million shares of stock from a shareholder of the Company for $323,035 in cash (including an option payment that we previously made to the selling stakeholder) and a note payable of $825,000 bearing interest at a rate per annum of twenty-four hundredths percent (0.24%). Principal and accrued interest are payable as follows:

 

On or before March 31, 2013, $200,000.00 plus accrued interest.

 

On or before June 30, 2013, $200,000.00 plus accrued interest.

 

On or before September 30, 2013 $200,000.00 plus accrued interest.

 

On or before December 31, 2013 $225,000.00 plus accrued interest.