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10. RELATED PARTY TRANSACTIONS
9 Months Ended
Sep. 30, 2013
Related Party Transactions  
NOTE 10. RELATED PARTY TRANSACTIONS

Notes Payable to Director

 

In 2009, the Company executed a 10% convertible note payable in the amount of $102,236 originally due December 31, 2010 to John Evey for amounts loaned to the Company.  Mr. Evey joined the Board of Directors on April 27, 2010.  Through a series of extensions, the note due date was extended to December 31, 2013.  During the nine month period ended September 30, 2013, the Company made principal payments totaling $9,067 on this note. The balance of the note as of September 30, 2013 is $113,616 with accrued interest amounting to $9,203 (See note 4).