Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE

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NOTES PAYABLE
 12 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
NOTES PAYABLE

NOTE 6 – NOTES PAYABLE

 

             
Notes payable consist of the following for the periods ended;   3/31/2013     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  
                 
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     30,383       30,383  
                 
Less Current Portion     30,383       30,383  
                 
Long Term Notes Payable   $ 0     $ 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.                
Accrued  interest  on these notes totaled:   $ 17,066     $ 16,488