Notes payable consist of the following for the periods ended;
9/30/2013
12/31/2012
Debentures at 10%, unsecured, were to be convertible into common shares at the option of the holder; all debentures are currently in default.
10,383
10,383
Related party loan from corporate officer to subsidiary Pipeline Nutrition, USA for working capital with interest at 4% per annum and equal monthly installments of $625 per month with a maturity date of April 1, 2017. This loan is secured by the inventory in Pipeline Nutrition, USA.
30,000
0
Short term unsecured working capital demand notes, with stated interest rate of 10%. Reclassified back into notes payable after the Company confirmed status during the last fiscal audit of the 2010 year-end.
20,000
20,000
Total Notes Payable
60,383
30,383
Less Current Portion
40,663
30,383
Long Term Notes Payable
$19,720
$0
The aggregate principal maturities of notes payable are as follows:
All are classified as short term by the Company. During these periods, the
Company was in default on two notes payable. The note holders have not
taken any legal action against the Company as permitted by the agreements.