Note 10 - Short Term Debt

9 Months Ended

Sep. 30, 2013

Notes

Note 10 - Short Term Debt

NOTE 10 - SHORT TERM DEBT

Short-term debt at September 30, 2013 represents the following:

	September 30, 2013
Promissory Note due Phoenix 51, Inc. (See Note 4A)	$1,500,000
Promissory Note due GGAG, Inc. (See Note 4A)	250,000
Promissory Note due Pegasus Group, Inc. (see Note 6)	242,000
Promissory Note due StreetCapital, Inc. (see Note 5)	50,000
Promissory Note due Gorilla Pictures (see Note 4B)	275,000
Total Notes Due	$2,317,000

The Promissory Note for $500,000 due The Basketball Channel reported as at June 30, 2013 was subsequently cancelled. The Letter of Intent to form a separate joint venture for the potential financing and future development of The Basketball Channel expired and was not renewed by mutual agreement between the parties.