From the last 10k on debt.
"As of June 15, 2012, we had the following approximate amounts of outstanding short term indebtedness:
· Accrued interest of approximately $1,054,088;
· Approximately $46,000 in unsecured convertible notes bearing interest at 10% per annum increased to 18% per annum due to failure to pay the Notes by September 29, 2010;
· Approximately $25,000 in senior unsecured convertible promissory notes bearing interest at 18% interest, payable quarterly in cash, which became due between December 2010 and May 2011;
· Approximately $8.0 million in legal settlement promissory notes, bearing interest at 8% per annum. We are obligated to retire the Notes in monthly installments, commencing January 31, 2012, by payment in cash or (at our sole option) by delivery of shares of our common stock in an amount equal to 6.25% of the initial principal amount of each Note, plus accrued interest;
· Approximately $4.8 million in outstanding November Notes and $3.4 million in Series B and $500,000 Series C convertible preferred stock which, unless converted into our common stock, matures or is subject to mandatory redemption on November 29, 2012; and
· Approximately $300,000 in unsecured convertible notes bearing interest at 4% per annum that matures on April 30, 2015.
Absent full conversion of these debts or the receipt of new financing or series of financings, our current operations do not generate sufficient cash to pay these obligations, when due. Accordingly, there can be no assurance that we will be able to pay these or other obligations which we may incur in the future.
In the event we are unable to convert into equity the balance of the outstanding November Notes, RDO Notes and the outstanding redeemable Series B and Series C Preferred Stock, the holders may obtain judgments against us and seek to enforce such judgments against our assets, in which event we will be required to cease our business activities and the equity of our stockholders will be effectively wiped out."