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Notes and advances payable (Tables)
9 Months Ended
Sep. 30, 2013
Notes and Advances Payable

Notes payable consist of the following as of December 31, 2012 and September 30, 2013:

 

     2012      2013  

Officers, directors and affiliates:

     

Notes and advances payable, interest at 8.0%, due on demand

   $ 12,882       $ 14,234   

Notes and advances payable, interest at 9.7%, due on demand

     85,000         85,000   

Note payable, interest at 7.5%, due March 2015

     150,000         150,000   

Collateralized note payable (see below)

     261,109         827,404   
  

 

 

    

 

 

 

Total officers, directors and affiliates

     508,991         1,076,638   

Less: Current portion of officers, directors, and affiliates

     508,991         926,638   
  

 

 

    

 

 

 

Long-term portion of officers, directors, and affiliates

   $ —         $ 150,000   
  

 

 

    

 

 

 

Unrelated parties:

     

Notes payable, interest at 7.5%, due March 2015

     250,000         225,000   

Notes payable, interest at 7.0%, due July 2014

     —           44,000   

Notes payable, interest at 7.0%, due July 2014

     —           506,000   
  

 

 

    

 

 

 

Total unrelated parties

     250,000         775,000   

Less: Current portion of unrelated parties

     250,000         625,000   
  

 

 

    

 

 

 

Long-term portion of unrelated parties

   $ —         $ 150,000