Mainland Resources, Inc.(fka MNLU)

[Ecomike]

Taken from the last 10-Q (about a month old, and it was the only secured debt, of all the debt they had, and it was a loan from a shareholder, IIRC):

During fiscal 2011, a shareholder (the "Secured Party") advanced $650,000 to the Company pursuant to a Demand Secured Promissory Note which bears interest at 10% per annum. During the six months ended August 31, 2011, the Secured Party advanced a further $355,000 on the same terms resulting in a total of $1,005,000 owing to this Secured Party. In addition, as at August 31, 2011, accrued interest was $53,919 which has been included in accounts payable and accrued liabilities. The Demand Secured Promissory Note had a due date of June 30, 2011. The due date was subsequently extended to July 31, 2011 and has since expired on that date. The Demand Secured Promissory Note is now due on demand. The Company entered into a general security agreement with the Secured Party in connection with this Demand Secured Promissory Note, and pursuant to the terms of the general security agreement, the Company filed UCC-1 financing statements in Louisiana, Mississippi and Texas and a Personal Property Security Act filing in British Columbia.