Straight from Dec2012 10K
Notes Payable
The following is a summary of amounts due to unrelated parties, including terms of the debt, and the interest accrued as of September 30, 2012:
Note Payable
Terms of Agreement
Debt In Default
September 30, 2012
December 31, 2011
8% Notes, Convertible at 45% discount
(t)
-
$ -
$ 70,000
12% Notes, Convertible
(a)
Yes
200,000
200,000
July 1, Notes
(u)
-
-
175,000
July 2011, Senior Notes
(b)
Yes
150,000
231,250
8% Notes, Convertible at 50% discount
(c)
Yes
108,400
140,000
2011 4th Quarter Senior Notes
(d)
Yes
417,200
1,258,700
November Notes
(e)
Yes
108,000
108,000
December 15, Notes
(v)
-
-
100,000
December 30, Note
(w)
-
-
550,000
January 11, 2012 Senior Promissory Note
(g)
Yes
250,000
-
$500,000 Senior Promissory Note
(h)
Yes
200,000
-
12
January 15, 2012 Senior Promissory Note
(i)
Yes
0
-
January 30, 2012 Promissory Note
(j)
Yes
250,000
-
Platinum Partners Note
(k)
Yes
13,000,000
-
Lily Notes Payable
(l)
-
486,098
-
March 28, 2012 Promissory Note
(m)
-
110,000
-
5 Promissory Notes
(n)
-
805,000
-
April 5, 2012 Promissory Note
(o)
Yes
300,000
-
April, May 2012 Promissory Notes
(p)
Yes
250,000
-
May 4, 2012 Convertible Promissory Note
(q)
-
100,000
-
May 23, 2012 Promissory Note
(r)
Yes
53,000
-
June 26, 2012 Promissory Note
(s)
Yes
900,000
-
July-August 2012 Promissory Notes
(x)
-
750,000
-
$1,275,000 September 20, 2012 Promissory Note
(y)
-
775,000
-
July 19, 2012 Promissory Notes
(z)
Yes
500,000
-
August 8, 2012 Promissory Notes
(aa)
Yes
500,000
-
July 27, 2012,Promissory Note
(bb)
Yes
50,000
-
As of September 30, 2012
As of December 31, 2011
Total Notes Payable
$
20,262,698
$
2,832,950
Less Long-Term Notes Payable
(486,098
)
-
Total Short Term Notes Payable
19,776,600
2,832,950
Less Short-Term Debt Discount
(55,902
)
(439,483
)
Net Short-Term Notes Payable
$
19,720,698
$
2,393,467
