Quarterly report pursuant to Section 13 or 15(d)

4. NOTES PAYABLE (Tables)

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4. NOTES PAYABLE (Tables)
 9 Months Ended
Sep. 30, 2012
Notes Payable Tables  
Notes Payables

 

   

December 31,

2010

    

 

December 31,

2011

    

(Unaudited)

September 30,

2012

  
                   

Note payable to related party, unsecured, due 8/3/2012,

interest rate 0%

   $ 1,950     $ 1,950     $ 1,950  
                         

Note payable to related party, unsecured, due 9/17/2008, convertible at holder’s optionat $1 per share, interest rate 10% plus agreed upon amounts

   $ 184,156       -       -  
                         

Note payable to related party, unsecured, due 12/15/2013, monthly interest due,

convertible at holder’s option at $2.50 per share, interest rate 22.1%

   $ 150,000       -       -  
                         

Note payable to related party, unsecured, due 05/28/2009, convertible at holder’s option at $2.50 per share, original issue discount of 20%, with interest at $444 per day after due date

   $ 240,000       -       -  
                         

Note payable to related party, unsecured, due 07/27/2012, convertible at holder’s option at $2.50 per share, interest rate 8%

   $ 151,929       -       -  
                         

Notes payable to related parties, unsecured, due 01/29/2011, convertible at holder’s option at $2.50 per share, interest rate 9%

   $ 5,000       -       -  
                         
Notes payable to related parties, unsecured, due 12/31/2012, interest rate 0%   $ 15,810     $ 11,810     $ 11,810  
                         

Note payable to non-related party, unsecured, due 09/15/2012, convertible at holder’s option at $2.50 per TransBiotec share.

     -     $ 16,000       -  
                         
Note payable to related party, lien against company assets, unsecured, due 2/8/12, quarterly interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 30%     -     $ 10,000     $ 10,000  
                         

Note payable to related party, lien against company assets, unsecured, due 2/8/12, quarterly interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 30%

      -     $ 25,000     $ 25,000  
                         
Note payable to related party, lien against company assets, unsecured, due 2/17/12, quarterly interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 30%     -     $ 25,000     $ 25,000  
                         

Note payable to related party, lien against company assets, unsecured, due 2/18/12, quarterly interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 30%

      -     $ 10,000     $ 10,000  

  

Note payable to related party, unsecured, due 2/18/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 18%     -       -     $ 750  
                         
Note payable to related party, unsecured, due 2/18/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 18%     -       -     $ 6,875  
                         
Note payable to related party, unsecured, due 2/15/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 12%     -       -     $ 2,500  
                         
Note payable to related party, unsecured, due 2/20/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 12%     -       -     $ 3,750  
                         
Note payable to related party, unsecured, due 2/21/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 12%     -       -     $ 2,625  
                         
Note payable to related party, unsecured, due 3/20/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 12%     -       -     $ 5,433  
                         
Note payable to related party, unsecured, due 3/22/13, annual interest due, convertible at holder’s option at $0.3235688 per IMLE share, interest rate 12%     -       -     $ 3,203  
                         
Note payable to related party, lien against company assets, unsecured, due 1/05/13, annual interest due, convertible at holder’s option at 51% of market as defined, interest rate 8%, conversion limited to total beneficial ownership of 4.99%     -       -     $ 37,500  
                         
Note payable to related party, lien against company assets, unsecured, due 2/25/13, annual interest due, convertible at holder’s option at 51% of market as defined, interest rate 8%, conversion limited to total beneficial ownership of 4.99%     -       -     $ 37,500  
                         
Note payable to related party, unsecured, lien against company assets, $731,763, 5-years at 0% simple interest, due 7/1/2016, payment amounts vary each month.     -     $ 726,763     $ 726,763  
                         
Note payable to related party, lien against company assets, unsecured, due 4/19/13, annual interest due, convertible at holder’s option at 51% of market as defined, interest rate 8%, conversion limited to total beneficial ownership of 4.99%     -       -     $ 35,000  
                         

Note payable to non-related party, unsecured, due 08/29/2013, simple interest 8% convertible at holder’s option at $.249 per TransBiotec share.

     -       -     $ 15,000  
           
Note payable to non-related party, unsecured, due 03/01/2013, simple interest 9%.     -       -     $ 5,000  

 

    $ 748,845     $ 826,523     $ 965,659  
Less current portion     (594,966 )     (277,260 )     (606,771 )
Long-term portion   $ 153,879     $ 549,263     $ 358,888  
Principal payments

Required principal payments from December 31, 2011 forward are as follows:

 

2012   $ 266,260  
2013   $ 340,511  
2014   $ 196,881  
2015   $ 123,709  
2016   $ 38,298  
    $ 965,659  
Conversion of Notes

During the nine months ended September 30, 2012 and September 30, 2011 the Company recognized a beneficial conversion feature expense on borrowing from convertible notes of $102,388 and none, respectively.

 

Convertible debenture payable to unrelated party, unsecured, due 04/1/2009,                  
convertible at holder’s option at $.25 per share,                  
interest rate 8% Default interest                  
rate 12%   $ 30,000     $ 30,000     $ -