Quarterly report pursuant to sections 13 or 15(d)

5. Notes Payable and Accrued Interest - Related Parties (Tables)

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5. Notes Payable and Accrued Interest - Related Parties (Tables)
6 Months Ended
Jun. 30, 2013
Related Party Transactions [Abstract]  
Notes payable and accrued interest

As of June 30, 2013 and December 31, 2012, the Company had the following notes payable and accrued interest balances outstanding:

 

    6/30/2013     12/31/2012  
Officer Loans to Company   $ 194,163     $ 194,163  
Accrued Interest on Officer Loans to Company     56,477       49,087  
Subordinated Officer Loans to Company     159,753       159,753  
Accrued Interest on Subordinated Loans     51,032       44,888  
Total Notes Payable and Accrued Interest     461,425       447,891  
Less: Current Portion            
Long Term Portion   $ 461,425     $ 447,891  
Schedule of Maturities requirements on long-term

 

2013   $  
2014      
2015     353,919  
2016      
2017      
Total   $ 353,919