BANK LINE OF CREDIT	6 Months Ended
Mar. 31, 2012
BANK LINE OF CREDIT	NOTE E – BANK LINE OF CREDIT Our Bank line of credit consists of a $100,000 revolving line of credit with Bank of America with a balance of $95,636 and an interest rate of 7.75% secured by the personal guarantees of former officers. This line of credit is in default and in collection as of March 31, 2012. As of March 31, 2012, the total due is $127,990, including $95,636 of principle and $32,354 of accrued interest. During the three months ended March 31, 2012 and 2011, the Company recognized $1,848 and $1,828, respectively in interest expense. During the six months ended March 31, 2012 and 2011, the Company recognized $3,717 and $3,696, respectively in interest expense.

BANK LINE OF CREDIT

6 Months Ended

Mar. 31, 2012

NOTE E – BANK LINE OF CREDIT

Our Bank line of credit consists of a $100,000 revolving line of credit with Bank of America with a balance of $95,636 and an interest rate of 7.75% secured by the personal guarantees of former officers. This line of credit is in default and in collection as of March 31, 2012. As of March 31, 2012, the total due is $127,990, including $95,636 of principle and $32,354 of accrued interest. During the three months ended March 31, 2012 and 2011, the Company recognized $1,848 and $1,828, respectively in interest expense. During the six months ended March 31, 2012 and 2011, the Company recognized $3,717 and $3,696, respectively in interest expense.

- 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

Thrive World Wide Inc. 10-Q