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NOTES PAYABLE

9 Months Ended

Sep. 30, 2012

NOTE D - NOTES PAYABLE

		As of	As of
		September 30, 2012 (Unaudited)	December 31, 2011
Notes payable to finance companies, due in monthly installments of $3,695, including principal and interest at prime plus .25% collateralized by certain equipment	$	3,669	$ 32,107

Less current portion		(3,669)	(32,107)
Long term debt	$	--	$ --

The Company has recorded interest expense of $2,273 and $6,769 for the three months and six months ended September 30, 2012.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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