During the year ended December 31, 2012, the Company received total proceeds of $1,513,700 from non-affiliates. The notes agreements of $1,462,700 of the proceeds accrue interest at a rate of 10% per annum from the date of the agreements. The principal and accrued interest is due on January 2, 2014. $51,000 of the new proceeds was interest free and converted into 2,040,000 shares of common stock.
Looks like they got their funding...
My post is only my opinion, I recommend you always do your own DD! I am not a licensed broker or a professional by any means, so take what I say as entertainment value at best.