Annual report pursuant to Section 13 and 15(d)

LONG TERM DEBT

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LONG TERM DEBT
12 Months Ended
Dec. 31, 2011
LONG TERM DEBT  
LONG TERM DEBT

NOTE 8 – LONG TERM DEBT

 

Long term debt at December 31, 2011 and 2010 consists of the following:

 

Installment note bearing interest at 8.8% per annum

 

 

 

 

and due March, 2011.  The loan is secured by certain

 

 

 

 

equipment of the Company

 

 

 

 

 

 

December 31, 2011

 

December 31, 2010

 

 

 

 

 

 

$

0

$

3,516

Less current portion

 

0

 

3,516

 

$

-

$

-