Notes Payable (Tables)

12 Months Ended

Dec. 31, 2012

Notes Payable Tables

Notes payable

Notes payable at December 31, consisted of the following:

	2012			2011
Secured note payable to Credit Managers Association of California, bearing interest at prime plus 3% (6.25% as of December 31, 2012), and is adjusted annually in April through maturity. Principal and unpaid interest due in April 2016. A sinking fund escrow may be funded with 10% of future equity financing, as defined in the Agreement	$	1,238,000		$	1,238,000
Secured note payable to a Coca Cola Enterprises in the original amount of $40,000, bearing interest at 10% per annum. Principal and unpaid interest due on demand		40,000			40,000
Secured note payable to a financial institution in the original amount of $38,000, bearing interest at 8.25% per annum, payable in 60 equal monthly installments of principal and interest through February 19, 2014		11,000			18,000
Secured note payable to a financial institution in the original amount of $19,000, bearing interest at 10.50% per annum, payable in 60 equal monthly installments of principal and interest through August 25, 2014		8,000			12,000
Secured note payable to a financial institution in the original amount of $26,000, bearing interest at 7.91% per annum, payable in 60 equal monthly installments of principal and interest through April 9, 2015		14,000			18,000
Secured note payable to a financial institution in the original amount of $25,000, bearing interest at 7.24% per annum, payable in 60 equal monthly installments of principal and interest through March 10, 2016		17,000			22,000
		1,328,000			1,348,000
Less current portion of notes payable		(66,000	)		(62,000	)
Notes payable, net of current portion	$	1,262,000		$	1,286,000

Future minimum principal payments

Future minimum principal payments of notes payable at December 31, 2012 consisted of the following:

Year Ending December 31		Principal Amounts
	2013		66,000
	2014		16,000
	2015		8,000
	2016		1,238,000
	Thereafter		—
	Total	$	1,328,000