Annual report pursuant to section 13 and 15(d)

9. Notes Payable (Tables)

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9. Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2012
Notes Payable Tables  
Notes Payable

Notes payable consisted of the following at December 31, 2012 and 2011:

 

    December 31, 2012     December 31, 2011  
                 
Note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5%; due on demand [A]   $ 300,000     $ -  
                 
Note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19%; maturing at March 31, 2013 [A]     300,000       -  
                 
Note payable - originating February 25, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 25, 2014     100,000       -  
                 
Note payable - originating February 27, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 27, 2014     50,000       -  
                 
Note payable - related party originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014     50,000       -  
                 
Note payable for vehicle, 72 monthly payments of $618; interest at 8.4% through March 2014     -       15,151  
Total     800,000       15,151  
Less: Current maturities (notes payable)     -       (6,383 )
Less: Current maturities (convertible notes payable)     -       -  
Subtotal     800,000       8,768  
Less: amount due after one year for notes payable     -       (8,768 )
Amount due after one year for convertible notes payable   $ 800,000     $ -  

 
Future maturities of notes payable

Future maturities of notes payable are as follows:

 

 Year Ending December 31,      
2013   $ -  
2014     800,000  
    $ 800,000