Quarterly report pursuant to Section 13 or 15(d)

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

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ACCOUNTS PAYABLE AND ACCRUED EXPENSES
 3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Note 7. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses consisted of the following:

 

    March 31,     December 31,  
    2012     2011  
Accounts payable   $ 62,180     $ 51,579  
Accrued officers’ salary     37,500       150,000  
Accrued interest     35,273       19,307  
Accrued payroll taxes     425,375       183,750  
Accrued professional fees     16,000       16,000  
    $ 576,328     $ 420,636