10. NOTE RECEIVABLE

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

10. NOTE RECEIVABLE

Pursuant to the ARUR asset purchase agreement, the Company acquired various notes receivable in total of $550,000, which were due in 2010 and 2011. Management had assessed the collectability of these notes receivable and has deemed them uncollectible. Therefore, no value has been recorded for these notes receivable.

Notes receivable detail is as follows:
Note receivable from GeoGreen Biofuels, Inc., 0% interest rate, due 5/1/2010, unsecured	$	192,000
Note receivable from Ameribras Energy, Inc., 0% interest rate, due 5/13/2010, unsecured		100,000
Note receivable from Ameribras Energy, Inc., 0% interest rate, due 6/15/2010, unsecured		100,000
Note receivable from Brazil Asset Management, Inc., 0% interest rate, due 3/26/2011, unsecured		350,000
Total		742,000
Allowance for doubtful collection (742,000)
Net Balance		0