That is the date in which the loan DEFAULTED, it is still in DEFAULT AS OF TODAY which is why it is being disclosed to all shareholders in the PRE 14A. This is not hard to understand, the date in which the loan DEFAULTED is December 31st, 2011, it is still in default and as such it must be disclosed each time they go to investors for money or shares. That is why it was disclosed in the recent 8K to the $1 million dollar investors and why it is now being disclosed to common shareholders due to the need for more shares to be authorized.
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