CONVERTIBLE PROMISSORY NOTE	6 Months Ended
Jun. 30, 2011
CONVERTIBLE PROMISSORY NOTE	NOTE 5 – CONVERTIBLE PROMISSORY NOTE On June 14, 2011 the Company issued three-year Convertible Promissory Note ( the ”Note”) in the amount of $200,000 in a private transaction to an accredited investor for working capital to assist in the development of a business plan and acquire financing and/or assets in the energy related industry. The Note accumulates interest to maturity at six percent (6%) per annum. At the option of the Note holder, the principal and interest may be converted into common shares at a price of $0.10 per share.

CONVERTIBLE PROMISSORY NOTE

6 Months Ended

Jun. 30, 2011

NOTE 5 – CONVERTIBLE PROMISSORY NOTE

On June 14, 2011 the Company issued three-year Convertible Promissory Note ( the ”Note”) in the amount of $200,000 in a private transaction to an accredited investor for working capital to assist in the development of a business plan and acquire financing and/or assets in the energy related industry. The Note accumulates interest to maturity at six percent (6%) per annum. At the option of the Note holder, the principal and interest may be converted into common shares at a price of $0.10 per share.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

GLOBAL SMART ENERGY, INC. 10-Q/A