Convertible Debt |
Convertible debt consists of the following:
|
|
|
|
|
|
| June 30, 2012
|
| December 31, 2011
|
|
| (Unaudited)
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|
|
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
|
|