| Note 9. LOANS FROM RELATED PARTY |
Notes payable is as follows:
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September 30, |
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December 31, |
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2012 |
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2011 |
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| Unsecured promissory note dated December 2, 2011 and due December 2, 2012, issued to an entity controlled by Michael James an officer of the Company, bearing interest at a rate of 15% per annum. Interest shall be paid in cash or common stock at the holders option. Principal in the amount of $20,000 has been paid during the nine months ended September 30, 2012, |
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$ |
40,000 |
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$ |
50,000 |
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| Unsecured promissory note dated December 2, 2011 and due December 2, 2012, issued to Michael Nahass a director of the Company, bearing interest at a rate of 15% per annum. Interest shall be paid in cash or common stock at the holders option. Principal in the amount of $2,000 has been paid during the nine months ended Sepotember 30, 2012. |
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98,000 |
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100,000 |
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| Unsecured demand note dated April 3, 2012, issued to Amy Almsteier an officer and director of the Company, bearing interest at a rate of 15% per annum. Interest shall be paid in cash or common stock at the holders option. Principal in the amount of $10,500 has been paid during the nine months ended September 30, 2012, |
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800 |
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- |
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| Unsecured demand note dated May 1, 2012 issued to Derek Peterson an officer and director of the Company, bearing interest at a rate of 15% per annum. Interest shall be paid in cash or common stock at the holders option. Principal in the amount of $131 has been paid during the nine months ended September 30, 2012. |
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2,759 |
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$ |
141,559 |
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$ |
150,000 |
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The unsecured demand notes due to related parties have accrued interest
of $21,669 as of September 30, 2012.
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