Annual report pursuant to Section 13 and 15(d)

NOTE 4. NOTES PAYABLE (Tables)

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NOTE 4. NOTES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2012
Note 4. Notes Payable Tables  
Notes Payables

 

    December 31, 2011     December 31, 2012  
             
Note payable to related party, unsecured, due 8/3/2012, interest rate 0%   $ 1,950     $ 1,950  
                 
Notes payable to related parties, unsecured, due 12/31/2012, interest rate 0%   $ 11,810     $ 11,810  
                 
Note payable to non-related party, unsecured, due 09/15/2012, convertible at holder’s option at $2.50 per TBT - CA share.   $ 16,000       -  
   
Note payable to non-related party,  unsecured, due 2/8/12, quarterly interest due, convertible at holder’s option at $0.3235688 per TBT - DE share, interest rate 30%   $ 10,000     $ 10,000  
                 
Note payable to non-related party, unsecured, due 2/8/12, quarterly interest due, convertible at holder’s option at $0.3235688 per TBT - DE share, interest rate 30%     $ 25,000  
                 
Note payable to non-related party,  unsecured, due 2/17/12, quarterly interest due, convertible at holder’s option at $0.3235688 per TBT - DE share,  interest rate 30%   $ 25,000     $ 25,000  
                 
Note payable to non-related party, unsecured, due 2/18/12, quarterly interest due, convertible at holder’s option at $0.3235688 per TBT - DE share, interest rate 30%   $ 10,000     $ 10,000  
                 
Note payable to non-related party, unsecured, due 2/18/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 18%     -     $ 750  
                 
Note payable to non-related party, unsecured, due 2/18/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 18%     -     $ 6,875  
                 
Note payable to non-related party, unsecured, due 2/15/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 12%     -     $ 2,500  
                 
Note payable to non-related party, unsecured, due 2/20/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 12%     -     $ 3,750  
                 
Note payable to non-related party, unsecured, due 2/21/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 12%     -     $ 2,625  
                 
Note payable to non-related party, unsecured, due 3/20/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 12%     -     $ 5,433  
                 
Note payable to non-related party, unsecured, due 3/22/13, annual interest due, convertible at holder’s option at $0.3235688 per TBT-DE share, interest rate 12%     -     $ 3,203  
                 
Note payable to non-related party,  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%     -     $ 10,500  
                 
Note payable to non-related party,  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, $731,763, 5-years at 0% simple interest, due 7/1/2016, payment amounts vary each month, various late penalties.   $ 726,763     $ 726,763  
                 
Note payable to non-related party, 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 TBT-CA share.     -     $ 15,000  
                 
Note payable to non-related party, unsecured, due 03/01/2013, simple interest 9%.     -     $ 5,000  
           
Note payable to non-related party, unsecured, due 01/31/2013, $12,000 in interest (2 months)     -     $ 32,000  
                 
Note payable to non-related party, unsecured, due 12/13/2013, simple interest 7%.     -     $ 5,342  
                 
Note payable to non-related party, unsecured, due 01/31/2013, simple interest 18%.     -     $ 3,938  
                 
    $ 826,523     $ 979,939  
Less current portion     (277,260 )     (616,051 )
                 
Long-term portion   $ 549,263     $ 363,888  
Principal payments

Required principal payments from December 31, 2012 forward are as follows:

 

2013   $ 616,051  
2014   $ 196,881  
2015   $ 123,709  
2016   $ 43,298  
2017   $ -  
    $ 979,939  
Conversion of Notes

 

    2011     2012  
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     $ -