BANK OVERDRAFT

12 Months Ended

Dec. 31, 2011

BANK OVERDRAFT

BANK OVERDRAFT

12.   BANK OVERDRAFT

        In October 2011, the Company signed an overdraft agreement with Alfa Bank bearing annual interest at 7.2% with a credit limit of approximately $34,000. As of December 31, 2011, the Company had an overdraft position of $16,941 that is presented as a current liability separately on the Company's balance sheet. In January 2012, the balance of the overdraft outstanding as of December 31, 2011 was settled.