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(7) Convertible Debentures: Schedule of Debt Conversions (Tables)
12 Months Ended
Dec. 31, 2012
Tables/Schedules  
Schedule of Debt Conversions

 

Description

Date of Agreement

Cost basis at Conversion

Original Amount

Unpaid principal balance

Term

Interest Rate

 

 

 

 

 

 

 

Debenture 1

8/24/2011

$0.04

$100,000

$100,000

12 Months

14%

Debenture 2

9/27/2011

0.04

10,000

9,219

12 Months

14%

Debenture 3

10/10/2011

0.04

25,000

25,000

12 Months

14%

Debenture 4

12/20/2011

0.04

6,000

6,000

12 Months

14%

 

 

 

 

 

At December 31, 2011

$141,000

$140,219