| Schedule of Debt |
A summary of notes payable and related discounts as of June 30, 2012 is as follows:
| | | | | | | | | | | | | | | | | Principal | | | Unamortized Discount | | | Debt, Net of Discount | | | Third parties | | | | | | | | | | | Convertible notes payable | | $ | 107,625 | | | $ | (33,411 | ) | | $ | 74,214 | | | Less current portion | | | 107,625 | | | | (33,411 | ) | | | 74,214 | | | Convertible notes payable, net of current portion | | $ | - | | | $ | - | | | $ | - | | | | | | | | | | | | | | | | | Related parties | | | | | | | | | | | | | | Convertible notes payable | | $ | 1,907,354 | | | $ | (126,641 | ) | | $ | 1,780,713 | | | Notes payable | | | 84,380 | | | | - | | | | 84,380 | | | | | | 1,991,734 | | | | (126,641 | ) | | | 1,865,093 | | | Less current portion | | | 494,251 | | | | (126,641 | ) | | | 367,610 | | | Convertible and non-convertible note payable, net of current portion | | $ | 1,497,483 | | | $ | - | | | $ | 1,497,483 | |
|