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Short Term Notes Payable
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9 Months Ended | ||
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Sep. 30, 2012
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| Short Term Notes Payable [Abstract] | |||
| Short Term Notes Payable |
As of December 31, 2011, the Company had $53,092 in short-term notes payable for the financing of various insurance policies. On March 10, 2012, the Company entered into a short-term note payable for $50,037 bearing interest at 6.17% to finance the product liability insurance. Principal and interest payments on this note begin April 10, 2012 and are made evenly based on a straight line amortization over a 10-month period with the final payment due on January 10, 2013. On August 24, 2012 the Company entered into a short-term note payable for $84,876 bearing interest at 4.75% to finance the director and officers and employment practices liability insurance premiums. Principal and interest payments on this note began August 24, 2012 and are made evenly based on a straight line amortization over a 10-month period with the final payment due on May 24, 2013.
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