3. NOTES PAYABLE (Tables)

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Schedule of Notes Payable

As of September 30, 2012, the Company had notes payable totaling $24,289,971. The detail of these notes is as follows:

Note Description	As of  September 30, 2012		As of  December 31, 2011		Maturity	Rate
IDB credit facility	$	5,000,000	$ 5,000,000		May 2013	Prime, not less than 4.0		%
Insurance premium note		35,674		21,421	July 2012		5.4	%
Various capital leases		154,297		166,469	Various		8.0-18.0	%
Convertible notes		19,100,000		15,475,000	November 2016		8.0	%
Totals		24,289,971		20,662,890
Less current portion of debt		5,053,078		5,037,815
Long–term portion of debt	$	19,236,893	$	15,625,075

Schedule of Convertible Notes

The Notes have been sold as follows:

	As of September 30, 2012
Note Buyer	Date of Purchase	Amount of Convertible Note			Interest Rate			Due Date
Atlas Capital	Various	$	13,775,000			8	%	11/14/2016
Blueline Fund	November 14, 2007		500,000			8	%	11/14/2016
Crystal Management	Various		750,000			8	%	11/14/2016
HSBC Private Bank (Suisse), SA	November 21, 2008		250,000			8	%	11/14/2016
UBP, Union Bancaire Privee	Various		3,775,000			8	%	11/14/2016
William Furr	November 14, 2007		250,000			8	%	11/14/2016
Less – lease conversion	September 4, 2009		(200,000	)
Total Convertible Notes		$	19,100,000