Annual report pursuant to section 13 and 15(d)

5. NOTES PAYABLE TO SIGNIFICANT STOCKHOLDERS (Tables)

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5. NOTES PAYABLE TO SIGNIFICANT STOCKHOLDERS (Tables)
12 Months Ended
Dec. 31, 2012
Notes Payable To Significant Stockholders Tables  
Schedule of notes payable

Issue

Date

 

Principal

December 31, 2010

    Principal Issued in 2011     Principal Converted in 2011    

Principal

Repaid in

2011

   

Principal

December 31, 2011

    Interest Rate     Conversion Price  
                                           
Aug-09          $ 2,500,000     $ ---     $ (2,500,000 ) *   $ ---     $ ---       9 %   $ 1.9930  
Dec-09     2,500,000       ---       (2,500,000 ) *     ---       ---       9 %   $ 1.9930  
Jun-10     1,800,000       ---       (1,800,000 ) *     ---       ---       12 %   $ 1.9930  
Dec-10     500,000       ---       (500,000 ) *     ---       ---       10 %   $ 1.9930  
Feb-11     ---       300,000       (300,000 ) *     ---       ---       10 %   $ 1.9930  
May-11     ---       250,000       (250,000 ) *     ---       ---       10 %   $ 1.9930  
Jun-11     ---       300,000       (300,000 ) *     ---       ---       10 %   $ 1.9930  
Aug-11     ---       250,000       ---       ---       250,000       10 %   $ 1.9930  
Sep-11     ---       100,000 **     ---       (100,000 )     ---       18 %     ---  
Oct-11     ---       100,000 **     ---       (100,000 )     ---       18 %     ---  
Dec-11     ---       200,000       ---       ---       200,000       18 %     ---  
    $ 7,300,000     $ 1,500,000     $ (8,150,000 )   $ (200,000 )   $ 450,000