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NOTES RECEIVABLES
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
NOTES RECEIVABLES

NOTE 9. NOTES RECEIVABLES

 

The Company is the holder of two promissory notes with Advanced Disinfectant Technologies (“Adtec”) in the amount of $75,000 and $20,000 due on November 30, 2010 and February 2011, respectively. The notes bear interest of 8% per annum. In the event of default, the Company is entitled to receive seven foggers for the first note and two foggers for the second note at no charge. As of December 31, 2010, the Company fully reserved these notes receivables and recorded bad debt expense of $95,000.