NOTES PAYABLE / CONVERTIBLE NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2012

Schedule Of Convertible Notes Payable Table [Text Block]

	June 30, 2012			December 31, 2011

NOTES PAYABLE
Note payable - Stuart Sundlun, bearing interest of 10% per annum, due August 7, 2011	$	1,500,000		$	1,500,000
Note payable - Gulf Coast Fuels/GJ Capital		-			436,380
Notes payable - BlueRock Energy Group, bearing interest at 18%, payable via production)		294,159			379,854
Note payable - GMAC, bearing interest of 11.7% per annum with 60 monthly payments of $895, due May 13, 2013		13,277			14,622
Related party - Notes payable – Gator-Dawg Drilling, LLC, bearing interest at 5.24%, payable on demand		100,000			-
Total notes payable		1,907,436			2,330,856
Less: current portion		(1,907,436	)		(2,325,849	)
Long term notes payable		-			5,007

CONVERTIBLE NOTES PAYABLE
Note payable - Asher notes, net of discount of $32,817 and $50,986 at June 30, 2012 and December 31, 2011, respectively		109,684			119,514
bearing interest of 8% per annum, due February 16, 2012 (balance $0 at 6/30/12; $5,000 at 12/31/11)
bearing interest of 8% per annum, due March 23,2012 (balance $0 at 6/30/12; $53,000 at 12/31/11)
bearing interest of 8% per annum, due April 7, 2012 (balance $27,500 at 6/30/12 and 12/31/11)
bearing interest of 8% per annum, due June 12, 2012 (balance $37,500 at 6/30/12 and 12/31/11)
bearing interest of 8% per annum, due August 28, 2012 (balance $37,500 at 6/30/12 and 12/31/11)
bearing interest of 8% per annum, due October 23, 2012 (balance $40,000 at 6/30/12; $0 at 12/31/11)
Notes payable - BWME, bearing interest at 8% per annum, due September 2, 2013		400,000			400,000
Notes payable - Schwartz group, bearing interest at 6%, due January 9, 2013		62,500			85,000
Total convertible notes payable	$	572,184		$	604,514
Less: current portion		(272,184	)		(119,514	)
Long term convertible notes payable	$	300,000		$	485,000

Schedule Of Contractual Obligation Fiscal Year Maturity [Table Text Block]

The table below reflects the aggregate principal maturities of long-term debt for years ended December 31:

	Principal

2013	$	400,000
2014		-
2015		-
2016		-
2017		-
Total	$	400,000

ADINO ENERGY CORP 10-Q/A