Shortterm Notes payable

12 Months Ended

Dec. 31, 2011

Short-term Notes Payable [Abstract]

Short-term Notes Payable

Note 8 - Short-term Notes Payable

	December 31, 2011		December 31, 2010
Insurance note payable with interest at 4.99%, principal and interest due in monthly payments of $22,796 through May 1, 2011	$	-	$	91,183
Insurance note payable with interest at 4.79%, principal and interest due in monthly payments of $22,270 through May 1, 2012		89,080		-
Note payable with interest at 0.00%, principal due in monthly payments of $20,000 through April 20, 2012 (a)		80,000		-
Note payable with interest at 5% due monthly, principal due in monthly payments of $20,000, with a final principal balance due on February 1, 2012, secured by trading securities		65,719		-
	$	234,799	$	91,183

(a) On June 29, 2011, Delta entered into an agreement, with an effective date of July 1, 2011, with Vision Opportunity Master Fund, Ltd. ("VOMF"), pursuant to which VOMF agreed to convert 3,769,626 shares of the Company's preferred stock, constituting all of Delta's outstanding preferred stock, into 3,769,626 shares of common stock and also agreed to waive all accrued dividends payable on the preferred stock. In consideration for the conversion, Delta agreed to pay VOMF total consideration of $250,000, $50,000 of which was paid on July 1, 2011, and the $200,000 remainder is due and payable at the rate of $20,000 per month. If Delta fails to timely make the monthly payments, VOMF has the option to maintain ownership of the preferred stock, retain any and all previously paid installments, terminate the agreement, and not have waived the dividends. The consideration of $250,000 has been recorded as a deemed dividend. On February 23, 2012, Delta completed the agreement with VOMF. On February 29, 2012, 3,769,626 shares of Delta's preferred stock were converted into 3,769,626 shares of Delta's common stock.

Each of American's subsidiaries that have outstanding notes payable has secured such notes by that subsidiary's inventory, accounts receivable, property and equipment and guarantees from American.  At December 31, 2011 and December 31, 2010, the average annual interest rates of our short-term borrowings were approximately 3.22% and 4.99%, respectively.