Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE DEBT (Tables)

v2.4.0.6
CONVERTIBLE DEBT (Tables)
9 Months Ended
Sep. 30, 2012
CONVERTIBLE DEBT (Tables)  
Convertible Debt Current and Long Term

Convertible debt consists of the following:

 

 

 

 

 

 

September 30, 2012

 

December 31, 2011

 

 

(Unaudited)

 

 

1% Convertible notes payable, net of unamortized discount of $56,168 and $98,814 respectively, due at various dates ranging from January 2014 to November 2014

$

429,432

$

386,786

 

 

 

 

 

11% Convertible note payable, net of unamortized discount of $656,377 and $479,167, respectively, due in December 2013

 

343,623

 

120,833

 

 

 

 

 

11% Subordinated Convertible note payable, net of unamortized discount of $219,489 and $0, respectively, due in January 2014

 

112,511

 

0

 

 

885,567

 

507,619

Less:  Current portion

 

0

 

84,226

            Long term portion

$

885,567

$

423,393