Note 4 - Convertible Debentures: Schedule of Convertible Debentures Outstanding (Tables)

12 Months Ended

Dec. 31, 2013

Tables/Schedules

Schedule of Convertible Debentures Outstanding

The following is a schedule of the convertible debentures outstanding as of December 31, 2012:

Description	Date	Conversion Price	Original Principal Amount	Unpaid Principal Balance	Term	Interest Rate
Debenture 1	8/24/11	$30.00	$100,000	$100,000	12 months	14%
Debenture 2	9/27/11	$30.00	10,000	9,219	12 months	14%
Debenture 3	10/10/11	$30.00	25,000	25,000	12 months	14%
Debenture 4	12/20/11	$30.00	6,000	6,000	12 months	14%
Debenture 5	2/17/12	$30.00	10,000	10,000	12 months	14%
Debenture 6	3/9/12	$30.00	5,000	5,000	12 months	14%
Debenture 7	3/19/12	$30.00	5,000	5,000	12 months	14%
Debenture 8	4/29/12	$30.00	5,000	5,000	12 months	14%
Debenture 9	4/25/12	$30.00	10,000	10,000	12 months	14%
Debenture 10	7/1/12	$30.00	25,000	25,000	12 months	14%
Debenture 11	7/1/12	$30.00	25,000	25,000	12 months	14%
Debenture 12	7/21/12	$30.00	25,000	25,000	12 months	14%
Debenture 13	7/20/12	$30.00	62,000	62,000	12 months	14%
Debenture 14	7/29/12	$30.00	10,000	10,000	12 months	14%
Debenture 15	9/28/12	$30.00	25,000	25,000	12 months	14%
Debenture 16	9/1/12	$30.00	10,000	10,000	12 months	14%
Debenture 17	8/9/12	$30.00	15,000	15,000	12 months	14%
Debenture 18	10/9/12	$30.00	5,000	5,000	12 months	14%
Debenture 19	10/31/12	$30.00	12,500	12,500	12 months	14%
Debenture 20	11/20/12	$30.00	5,000	5,000	12 months	14%
Debenture 21	11/20/12	$30.00	2,000	2,000	12 months	14%
Debenture 22	11/20/12	$30.00	2,000	2,000	12 months	14%
Debenture 23	12/11/12	$30.00	5,000	5,000	12 months	14%
Debenture 24	12/2/12	$30.00	2,500	2,500	12 months	14%
Debenture 25	2/17/12	$30.00	2,500	2,500	12 months	14%
Total at December 31, 2012			$409,500	$408,719

Under the terms of the convertible debentures issued in 2011 and 2012, the interest rate is increased to 16% if the Company fails to make payments when due.  As of December 31, 2012, the Company had failed to make required payments on convertible debentures totaling $141,000.

During the year ended December 31, 2013, the Company issued various convertible debentures in the total amount of $1,224,516: $945,500 cash; $10,000 original issue discount; $5,000 services; $203,000 for other notes payable; and $61,016 for accrued interest payable.  In addition in 2013, $84,534 cash payments were made to reduce the principal balance of convertible debentures and a total principal balance of $548,411 was extinguished through the conversion of principal to common shares of the Company.  The debentures issued in 2013 are unsecured and bear simple interest ranging from 6% to 15% per annum, with maturities ranging from six months to one year.  The outstanding principal and accrued interest of the debentures are convertible into shares of the Company’s common stock at a fixed conversion price ranging from $0.15 to $30.00 per share in addition to variable discounted pricing based on the Bloomberg closing bid price or a discount of the market price.  The following is a schedule of the convertible debentures outstanding as of December 31, 2013:

Description	Date	Conversion Price	Original Principal Amount	Unpaid Principal Balance	Term	Interest Rate
Debenture 1	10/10/11	$30.00	25,000	25,000	12 months	16%
Debenture 2	12/20/11	$30.00	6,000	1,466	12 months	16%
Debenture 3	2/17/12	$30.00	10,000	10,000	12 months	16%
Debenture 4	3/9/12	$30.00	5,000	5,000	12 months	16%
Debenture 5	3/19/12	$30.00	5,000	5,000	12 months	16%
Debenture 6	4/29/12	$30.00	5,000	5,000	12 months	16%
Debenture 7	4/25/12	$30.00	10,000	10,000	12 months	16%
Debenture 8	10/9/12	$30.00	5,000	5,000	12 months	16%
Debenture 9	10/31/12	$30.00	12,500	12,500	12 months	16%
Debenture 10	11/15/12	$30.00	5,000	5,000	12 months	16%
Debenture 11	11/20/12	$30.00	2,000	2,000	12 months	16%
Debenture 12	12/11/12	$30.00	2,500	2,500	12 months	16%
Debenture 13	12/29/12	$30.00	2,500	2,500	12 months	16%
Debenture 14	1/5/13	$30.00	2,500	2,500	12 months	14%
Debenture 15	2/5/13	$30.00	2,500	2,500	12 months	14%
Debenture 16	7/11/13	Variable	21,500	21,500	12 months	12%
Debenture 17	7/23/13	Variable	62,000	62,000	9 months	8%
Debenture 18	7/26/13	Variable	78,500	78,500	12 months	8%
Debenture 19	7/29/13	$30.00	10,000	10,000	12 months	14%
Debenture 20	8/2/13	Variable	21,500	21,500	12 months	12%
Debenture 21	8/30/13	Variable	37,500	37,500	12 months	15%
Debenture 22	9/4/13	Variable	50,000	50,000	12 months	8%
Debenture 23	9/23/13	Variable	25,000	25,000	12 months	14%
Debenture 24	9/27/13	Variable	25,402	25,402	12 months	14%
Debenture 25	9/26/13	Variable	7,500	7,500	12 months	15%
Debenture 26	9/30/13	Variable	5,250	5,250	12 months	15%
Debenture 27	9/30/13	Variable	7,500	7,500	12 months	15%
Debenture 28	9/30/13	Variable	9,750	9,750	12 months	15%
Debenture 29	10/1/13	$1.50	75,000	75,000	12 months	14%
Debenture 30	10/2/13	$1.50	50,000	50,000	12 months	14%
Debenture 31	10/3/13	Variable	3,750	3,750	12 months	8%
Debenture 32	10/23/13	Variable	50,000	50,000	12 months	6%
Debenture 33	10/25/13	Variable	52,000	52,000	9 months	8%
Debenture 34	10/25/13	Variable	30,000	30,000	9 months	8%

Description	Date	Conversion Price	Original Principal Amount	Unpaid Principal Balance	Term	Interest Rate
Debenture 35	11/6/13	$1.50	50,000	50,000	12 months	14%
Debenture 36	11/29/13	Variable	30,000	30,000	6 months	15%
Debenture 37	11/29/13	Variable	25,000	25,000	6 months	15%
Debenture 38	11/29/13	Variable	25,000	25,000	6 months	15%
Debenture 39	12/2/13	Variable	25,000	25,000	6 months	15%
Debenture 40	12/2/13	Variable	1,476	1,476	6 months	15%
Debenture 41	12/2/13	Variable	1,476	1,476	6 months	15%
Debenture 42	12/2/13	Variable	1,476	1,476	6 months	15%
Debenture 43	12/2/13	Variable	1,475	1,475	6 months	15%
Debenture 44	12/30/13	$0.15	10,000	10,000	6 months	14%
Debenture 45	8/14/13	$1.875	100,000	100,000	12 months	14%
Debenture 46	2/24/12	Variable	11,268	11,268	12 months	15%
Total at December 31, 2013			$1,004,823	$1,000,289
Less discount				(408,194)
				$592,095