Quarterly report pursuant to Section 13 or 15(d)

BANK OVERDRAFT AND TERM FACILITIES (RESTATED NOTE 16) (Details)

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BANK OVERDRAFT AND TERM FACILITIES (RESTATED NOTE 16) (Details) (USD $)
Jun. 30, 2012
Dec. 31, 2011
Bank overdraft facilities (1) $ 251,046 [1] $ 255,607 [1]
Term facility (2) 112,950 [2] 112,950 [2]
Term facility (3) 204,920 [3] 225,371 [3]
Short-term Debt 568,916 593,928
Other current liabilities 352,398 330,607
Other liabilities $ 216,518 $ 263,321
[1] Bank overdraft facilities are unsecured and have a total maximum facility of approximately $260,000. The interest rate as of June 30, 2012 and December 31, 2011 was 11%. The facilities are reviewed annually and are payable on demand.
[2] Term facility is payable on demand and the facility is secured by certain assets of one of the Company's shareholders.
[3] The monthly payments of principal and interest of the term facility total approximately $5,300 and have been made currently since October 1, 2011. The interest rate at June 30, 2012 and December 31, 2011 was 10.3%.