NOTES RECEIVABLE

3 Months Ended

Jun. 30, 2012

NOTES RECEIVABLE:

NOTES RECEIVABLE

NOTE 8 - NOTES RECEIVABLE

On April 27, 2011 the Company has notes receivable from Airbak Technologies, LLC. The principal balances of these notes are $165,000 at June 30, 2012. These notes bear interest at a rate of 15% or maximum of $24,000. Airbak defaulted on the Note Company has a default judgment outstanding and the highest permitted default interest rate continues. In the event a merger with Airbak is not completed the Company will enforce the judgment and pursue claims agaist the members of Airbak Technologies, LLC.