Note 5 - Notes Payable

6 Months Ended

Jun. 30, 2011

Debt Disclosure [Text Block]

NOTE 5 – NOTES PAYABLE

Notes payable consists of the following as of:

	June 30, 2011		December 31, 2010
Revolving line of credit to a related party with a maximum availability of $150,000.  The line of credit is unsecured, matures on May 2, 2012 and accrues interest at the per annum rate of 12%	$	102,170	$	-
Notes payable to a bank, secured by the Company’s personal property, due in monthly principal and interest payments of $2,913 through August 2011, including interest at a per annum rate of 7.5%.  The notes were paid in full during the six months ended June 30, 2011		-		22,716
Notes payable to a stockholder, unsecured, bearing interest at 8% per annum and due on demand.  The notes were paid in full during the six months ended June 30, 2011		-		20,000
Notes payable to the Company’s Chief Financial Officer, unsecured, non-interest bearing and due on demand		44,000		44,000
Total	$	146,170	$	86,716

For the purposes of Balance Sheet presentation notes payable have been grouped as follows:

	June 30, 2011		December 31, 2010
Notes payable	$	-	$	22,716
Notes payable, related party		146,170		64,000
	$	146,170	$	86,716