| Note 9. LOANS FROM RELATED PARTY |
Notes payable is as follows:
| |
|
June 30, |
|
|
December 31, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
|
|
|
|
|
| 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. |
|
$ |
45,000 |
|
|
$ |
50,000 |
|
| |
|
|
|
|
|
|
|
|
| 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. |
|
|
100,000 |
|
|
|
100,000 |
|
| |
|
|
|
|
|
|
|
|
|
Unsecured promissory note dated January 16, 2012 and due January
16,
2013, 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.
|
|
|
10,000 |
|
|
|
- |
|
|
Unsecured promissory note dated January 16, 2012 and due January
16,
2013, 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.
|
|
|
5,000 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| Unsecured demand note dated March 30, 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. |
|
|
5,000 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| 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. |
|
|
11,300 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| 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. |
|
|
2,890 |
|
|
|
- |
|
| |
|
$ |
179,190 |
|
|
$ |
150,000 |
|
The unsecured demand notes due to related parties have accrued interest
of $14,935 as of June 30, 2012.
|