Note 4 – Loans to Third Parties. These loans bear 8% interest per annum and have terms of demand repayment.
Puppetmasters...Initials, lol.
Loan to Third Parties – T.L. $ 55,005 $ 55,005 Loan to Third Parties – J.C. 245,520 245,520 Loan to Third Parties – KY 10,800 20,800 Loan to Third Parties – D.G. 51,591 51,591 Total Loans to Third Parties $ 362,916
J.C. Is holder of a note dated September 11, 2012 in the original principal amount of $ 229,093. The note was acquired in a private transaction in August 27, 2012. The security derives from 3 convertible Promissory Notes dated March 25, 2010 amount $ 150,000, November 4, 2010 amount $ 50,000, and March 11, 2011 amount $ 25,000. The balance of the note at December 31, 2013 is $ 245,520. D.G. is the holder of a note sold by United Treatment Centers dated June 3, 2010 issued as a convertible Promissory Note in the principal amount of $ 112,000 pursuant to the terms of a securities purchase agreement sated of even date therewith. The security derives from a convertible Promissory Note dated June 3, 2010. The note together with the accrued interest at the annual rate of eight percent ( 8%), is due on June 3, 2011. The balance of the note at December 31, 2013 was $ 51,591. Notes 5 – Note Payable March 31 December 31 2014 2013 J.C. $ 270,000 $ 270,000 K.Y. 15,675 15,675 E.G. 0 51,583 Total Note Payable $ 285,675 $ 337,258 J.C. is the holder of a 2nd note sold by United Treatment Centers dated September 7, 2012 issued as a Convertible Promissory Note in the principal amount of $ 250,000 pursuant to the terms of a securities purchase agreement dated of even date therewith. The note together with accrued interest at the annual rate of eight percent ( 8%), is due on August 31, 2013. The balance of the note at December 31, 2013 was $ 270,000. E.G. . is the holder of a note sold by United Treatment Centers dated November 29, 2012 issued as a Convertible Promissory Note in the principal amount of $ 47,000 pursuant to the terms of a securities purchase agreement dated of even date therewith. The note together with accrued interest at the annual rate of nine percent ( 9%), is due on November 29, 2013. The balance of the note at December 31, 2013 was $ 51,583 and at March 31, 2014 was $ 0
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