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Related Party Disclosures
9 Months Ended
Sep. 30, 2011
Related Party Disclosures 
Related Party Transactions Disclosure [Text Block]

9.  Related Party Transactions

 

On May 28, 2010 LYFE entered into a short-term note payable of $175,000 with Robert Bryson, a Director of LYFE.  The note has a 60 day maturity and 9% interest rate.  As of September 30, 2011 LYFE has accrued $23,656 interest on the note payable to Robert Bryson and recorded $4,374 in interest expense for the three months ending September 30, 2011.  The Company is currently in default as no payments have been made on the note.

 

On February 16, 2011 an officer of the Company loaned the Company $100,000.  The note has a 1 year maturity and 12% interest rate.  As of September 30, 2011 LYFE has accrued $7,718 interest on the note payable and recorded $3,168 in interest expense for the three months ending September 30, 2011.  As of November 21, 2011 no payments have been made on the note.