| Notes payable |
| |
|
June 30,
2012
|
|
|
December 31,
2011
|
|
| |
|
|
|
|
|
|
| Note payable-Forge, LLC, bearing interest at 18.00% per annum, the loan is payable at maturity in July 2012 plus accrued interest. (1) |
|
|
150,000 |
|
|
|
150,000 |
|
| |
|
|
|
|
|
|
|
|
| Note payable – Asher Enterprises, bearing interest at 6.00% per annum, all principle and accrued interest is payable at maturity in March 2012(2) |
|
|
5,000 |
|
|
|
35,000 |
|
| |
|
|
|
|
|
|
|
|
| Note payable – Asher, bearing interest at 8% per annum, the loan is payable at maturity in May 2012 plus accrued interest(2) |
|
|
53,000 |
|
|
|
53,000 |
|
| |
|
|
|
|
|
|
|
|
| Notes payable - Joel Sens and Barbara Reed, bearing interest at 6% per annum, all principle and accrued interest is payable at maturity on February 21, 2016, |
|
|
500,000 |
|
|
|
500,000 |
|
| |
|
|
|
|
|
|
|
|
| Total notes payable |
|
|
708,000 |
|
|
|
738,000 |
|
| |
|
|
|
|
|
|
|
|
| Less: current maturities |
|
|
208,000 |
|
|
|
238,000 |
|
| |
|
|
|
|
|
|
|
|
| Long term portion |
|
$ |
500,000 |
|
|
$ |
500,000 |
|
|