CONVERTIBLE NOTES PAYABLE

3 Months Ended

Mar. 31, 2014

Notes to Financial Statements

CONVERTIBLE NOTES PAYABLE

NOTE 19 – CONVERTIBLE NOTES PAYABLE

The following table summarizes the Company’s long-term convertible notes payable as of March 31, 2014:

	Principal		Accrued Interest		Debt Discount			As of March 31, 2014
6% Senior secured convertible notes	$	438,680	$	49,800	$	(77,643	)	$	410,837
7% Senior secured convertible note ($850,000)		250,000		8,244		(187,497	)		70,747
7% Senior secured convertible note ($1,000,000)		1,000,000		19,563		(818,185	)		201,378
	$	1,688,680	$	77,607	$	(1,083,325	)	$	682,962