Stockholders' Loans

3 Months Ended

Jun. 30, 2011

Stockholders' Loans

Stockholders' Loans

6.      Stockholders’ Loans

The Issuer has received unsecured loans from stockholders in the following original dates and amounts; interest rates and maturity dates:

8.50% loan dated May 22, 2000, due June 2003, payable in monthly installments of $616 beginning June 2000.	$	19,514
8.50% loan dated June 28, 2000, due July 2002, payable in monthly installments of $327 beginning August 2000.		7,200
	$	26,714

Aggregate maturities or stockholder loans at December 31, 2000 are due in future years as follows:

2001	$	14,653
2002		9,045
2003		3,016
	$	26,714

For the period ended December 31, 2002, all loans from stockholder remained outstanding.  As such, stockholder agreed to combined the outstanding principal balance of all outstanding loans and thereby extend the maturity date of said loans currently due and payable to the stockholder until 2014, at an annual interest rate of 4.0%. Therefore, stockholder loans and any accrued interest thereof, was re-classified and recorded for the period as a long term liabilities of the Issuer.  For the period ended the period ended June 30, 2011, stockholder loans outstanding, including accrued interest, was $35,154.

4.0% loan dated December 31, 2003; due December 31, 2014; payable in full at maturity with accrued interest			$	26,714
Stockholder loan; Interest Payable for the Period ended December 31, 2010.	$	1,352
Accrued Interest Payable through the Period ended December 31, 2010.				8,440
Total Principal and Accrued Interest Due - as of the period ended June 30, 2011.			$	35,154