XML 41 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE PAYABLES
6 Months Ended
Jun. 30, 2012
Debt Disclosure [Abstract]  
NOTE 6 - NOTE PAYABLESS

Notes payable consist of the following as of June 30, 2012 and December 31, 2011:

 

   

June 30,

2012

   

December 31,

2011

 
              -  
Revolving Line of Credit of $1,000,000 from US Bank, dated April 9, 2009, as amended July 15, 2010 and further amended May 25, 2011, at an interest rate of 3.5% plus the one-month LIBOR quoted by US Bank from Reuters Screen LIBOR.  The Line of Credit matures May 15, 2013 and is secured by 80% of the receivables and 25% of the inventory of NDS Nutrition Products, Inc. The Company pays interest only on this Line of Credit     437,089       437,089  
                 
Total of notes payable and advances     437,089       437,089  
Less current portion     (437,089)       (437,089 )
                 
Long-term portion   $   -     $ -