Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE DEBT (Tables)

v2.4.0.6
CONVERTIBLE DEBT (Tables)
6 Months Ended
Jun. 30, 2012
CONVERTIBLE DEBT (Tables)  
Convertible Debt

Convertible debt consists of the following:

 

 

 

 

 

 

June 30, 2012

 

December 31, 2011

 

 

(Unaudited)

 

 

1% Convertible notes payable, net of unamortized discount of $67,036 and $98,814 respectively, due at various dates ranging from January 2012 to November 2014

$

418,564

$

386,786

 

 

 

 

 

11% Convertible note payable, net of unamortized discount of $795,211 and $479,167, respectively, due at various dates ranging from December 2013 to January 2014

 

229,789

 

120,833

 

 

 

 

 

11% Subordinated Convertible note payable, net of unamortized discount of $261,393 and $0, respectively, due in January 2014

 

70,607

 

0

 

 

718,960

 

507,619

Less:  Current portion

 

0

 

84,226

            Long term portion

$

718,960

$

423,393