Annual report pursuant to Section 13 and 15(d)

NOTES PAYABLE

v2.4.1.9
NOTES PAYABLE
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
Note 9 - NOTES PAYABLE

On July 7, 2014, the Company issued unsecured promissory notes in aggregate of $545,218 in settlement of previously issued convertible debentures dated April 3, 2013(See Note 10) and related accrued interest. The promissory notes include monthly payments of principal and interest, at 12% per annum, of $10,658 beginning August 15, 2014 through July 15, 2016 with the remaining unpaid balance due on or before July 15, 2016. The balance as of December 31, 2014 was $524,079.