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v2.4.0.6
Loan Payable
3 Months Ended
Mar. 31, 2012
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

Note 5.  Loan Payable

 

In 2011 the Company entered into an agreement for a demand loan with a related party for a total amount available up to $500,000. The loan is bearing interest at 8% per annum and is payable on demand. The loan is unsecured. Interest will be accrued on the loan and is payable upon demand. The loan is not convertible into the Company’s common stock. A total of $435,800 and $297,050 was outstanding under this loan at March 31, 2012 and December 31, 2011, respectively.