ACCOUNTS PAYABLE AND NOTES PAYABLE TO RELATED PARTIES	3 Months Ended
Mar. 31, 2012
Notes to Financial Statements
ACCOUNTS PAYABLE AND NOTES PAYABLE TO RELATED PARTIES	6 – ACCOUNTS PAYABLE AND NOTES PAYABLE TO RELATED PARTIES On February 5, 2009, the Company borrowed $99,137 from a shareholder for operating capital, and agreed to repay the principal plus 10% annual interest in 90 days. On September 8, 2009 the note was amended to pay interest at 20% interest per annum and matured in 90 days. Upon default, the note continues to earn 20% per annum. On November 1, 2010, the note holder converted the principal balance into 312,500 shares of private company common stock (pre-acquisition). The Company has paid $9,707 of the $27,959 interest accrued since note Inception. The remaining accrued interest of $18,252 remains to be paid at March 31, 2012. On November 17, 2009, the Company borrowed $34,151 from a shareholder for operating capital. This loan is non-interest bearing and does not have a specific maturity date. Management did not impute interest as such amount was not deemed significant. As of March 31, 2012, the Company has not repaid any of the principal balance. From time to time, the directors and officers have loaned money to the Company for general operating capital. These loans are repaid in part or in full when additional capital is raised. Due to the short-term nature of these loans, the directors and or officers agreed that they would not be interest bearing, and are due upon demand. Related party payables represent balances in accounts payable that are owed to directors, officers and shareholders. These payables are primarily for unreimbursed travel and entertainment expenses incurred on behalf of the Company. The respective parties have agreed to defer these payables, interest-free, until additional capital is raised.

ACCOUNTS PAYABLE AND NOTES PAYABLE TO RELATED PARTIES

3 Months Ended

Mar. 31, 2012

ACCOUNTS PAYABLE AND NOTES PAYABLE TO RELATED PARTIES

6 – ACCOUNTS PAYABLE AND NOTES PAYABLE TO RELATED PARTIES

On February 5, 2009, the Company borrowed $99,137 from a shareholder for operating capital, and agreed to repay the principal plus 10% annual interest in 90 days. On September 8, 2009 the note was amended to pay interest at 20% interest per annum and matured in 90 days. Upon default, the note continues to earn 20% per annum. On November 1, 2010, the note holder converted the principal balance into 312,500 shares of private company common stock (pre-acquisition). The Company has paid $9,707 of the $27,959 interest accrued since note Inception. The remaining accrued interest of $18,252 remains to be paid at March 31, 2012.

On November 17, 2009, the Company borrowed $34,151 from a shareholder for operating capital. This loan is non-interest bearing and does not have a specific maturity date. Management did not impute interest as such amount was not deemed significant. As of March 31, 2012, the Company has not repaid any of the principal balance.

From time to time, the directors and officers have loaned money to the Company for general operating capital. These loans are repaid in part or in full when additional capital is raised. Due to the short-term nature of these loans, the directors and or officers agreed that they would not be interest bearing, and are due upon demand.

Related party payables represent balances in accounts payable that are owed to directors, officers and shareholders. These payables are primarily for unreimbursed travel and entertainment expenses incurred on behalf of the Company. The respective parties have agreed to defer these payables, interest-free, until additional capital is raised.

ecoTECH Energy Group Inc. 10-Q