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General form of registration statement for all companies including face-amount certificate companies

9. Notes Payable (Tables)

v2.4.0.6
9. Notes Payable (Tables)
12 Months Ended
Dec. 31, 2012
Notes Payable Tables  
Notes Payable

Notes payable consisted of the following at December 31, 2012 and 2011:

 

    December 31, 2012     December 31, 2011  
                 
Note payable - related party originating August 14, 2012; no monthly payments required; bearing interest at 5%; due on demand [A]   $ 300,000     $ -  
                 
Note payable - related party originating March 13, 2012; no monthly payments required; bearing interest at 0.19%; maturing at March 31, 2013 [A]     300,000       -  
                 
Note payable - originating February 25, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 25, 2014     100,000       -  
                 
Note payable - originating February 27, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 27, 2014     50,000       -  
                 
Note payable - related party originating February 29, 2012; no monthly payments required; bearing interest at 0.19%; maturing at February 29, 2014     50,000       -  
                 
Note payable for vehicle, 72 monthly payments of $618; interest at 8.4% through March 2014     -       15,151  
Total     800,000       15,151  
Less: Current maturities (notes payable)     -       (6,383 )
Less: Current maturities (convertible notes payable)     -       -  
Subtotal     800,000       8,768  
Less: amount due after one year for notes payable     -       (8,768 )
Amount due after one year for convertible notes payable   $ 800,000     $ -  

 

Future maturities of notes payable

Future maturities of notes payable are as follows:

 

 Year Ending December 31,      
2013   $ -  
2014     800,000  
    $ 800,000