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Note 7 - Short-term Borrowings
12 Months Ended
Dec. 31, 2013
Notes  
Note 7 - Short-term Borrowings

Note 7 – Short-term Borrowings

 

Short term borrowings consist of the following as of December 31, 2013 and 2012:

 

 

 

December 31, 2013

December 31, 2012

Note payable to a bank at interest rate of 4.95%. The line matures in November 2014.

$  145,648

$  140,868

Note payable to an unrelated party bearing interest at 2.5%. The note is guaranteed by officer of the Company and due on demand.

0

23,478

Separate note payable to an unrelated party bearing interest at 2.5%. The note is guaranteed by officer of the Company and due on demand.

0

20,661

Total short-term borrowings

$  145,648

$  185,007