NOTES PAYABLE & DEBT DISCOUNTS	9 Months Ended
Sep. 30, 2011
NOTES PAYABLE & DEBT DISCOUNTS
NOTES PAYABLE & DEBT DISCOUNTS	NOTE 4: NOTES PAYABLE & DEBT DISCOUNTS The chart below summarizes the Notes Payable & Debt Discounts of the Company as of September 30, 2011. The Company is technically in default on its promissory notes to the persons or entities detailed hereafter, most of which notes matured on December 31, 2009. The Company is currently working with the note holders to restructure the terms of such notes and extend the maturity dates. The interest rate for these loans will be at 12% in 2011 since they have been in default since December 31, 2009. Terms Amount ----- ------ SHORT TERM NOTES PAYABLE TO SHAREHOLDERS: 12% Interest; principal of $6,597; convertible to common stock based on 75% of average price; due on 9/3/2009, net of unamortized discount related to the debt discount of $0 $ 6,597 12% Interest; principal of $293; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 293 12% Interest; principal of $11,000; convertible to common stock based on 75% of average price; due on 10/9/2009, net of unamortized discount related to the debt discount of $0 11,000 12% Interest; principal of $31,925; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 31,925 12% Interest; principal of $10,269; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 10,269 12% Interest; principal of $12,500; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 12,500 12% Interest; principal of $15,000; convertible to common stock based on 75% of average price; due on 8/1/2009, net of unamortized discount related to the debt discount of $0 15,000 12% Interest; principal of $17; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 17 12% Interest; principal of $5; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 5 12% Interest; principal of $231; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 231 12% Interest; principal of $9,458; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 9,458 12% Interest; principal of $37,133; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 37,133 12% Interest; principal of $5,000; convertible to common stock based on 75% of average price; due on 10/28/2009, net of unamortized discount related to the debt discount of $0 5,000 12% Interest; principal of $10,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $3,271 10,000 12% Interest; principal of $13,000; convertible to common stock based on 75% of average price; due on 8/1/2009, net of unamortized discount related to the debt discount of $0 13,000 12% Interest; principal of $7,209; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 7,209 12% Interest; principal of $23,847; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 23,847 12% Interest; principal of $20,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 20,000 12% Interest; principal of $25,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 25,000 12% Interest; principal of $70,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 70,000 12% Interest; principal of $36,867; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 36,867 12% Interest; principal of $73,977; convertible to common stock based on 75% of average price; due on 7/1/2009, net of unamortized discount related to the debt discount of $0 73,977 12% Interest; principal of $1,112; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discounted related to the debt discount of $0 1,112 12% Interest; principal of $10,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 10,000 12% Interest; principal of $15,000; convertible to common stock based on 75% of average price; due on 10/29/2009, net of unamortized discount related to the debt discount of $0 15,000 12% Interest; principal of $50,240; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 50,239 -------- TOTAL SHORT TERM NOTES PAYABLE TO SHAREHOLDERS $495,679 ======== SHORT TERM NOTES PAYABLE: 12% Interest; principal of $50,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 $ 50,000 12% Interest; principal of $50,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 50,000 12% Interest; principal of $15,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 15,000 12% Interest; principal of $10,000; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 10,000 12% Interest; principal of $20,500; convertible to common stock based on 75% of average price; due on 12/31/2009, net of unamortized discount related to the debt discount of $0 20,500 Non-interest bearing; principal of $100,000; no conversion feature; due on demand 100,000 -------- TOTAL SHORT TERM NOTES PAYABLE $245,500

NOTES PAYABLE & DEBT DISCOUNTS

9 Months Ended

Sep. 30, 2011

NOTES PAYABLE & DEBT DISCOUNTS

NOTES PAYABLE & DEBT DISCOUNTS

NOTE 4: NOTES PAYABLE & DEBT DISCOUNTS

The chart below summarizes the Notes Payable & Debt Discounts of the Company as

of September 30, 2011. The Company is technically in default on its promissory

notes to the persons or entities detailed hereafter, most of which notes matured

on December 31, 2009. The Company is currently working with the note holders to

restructure the terms of such notes and extend the maturity dates. The interest

rate for these loans will be at 12% in 2011 since they have been in default

since December 31, 2009.

Terms Amount

----- ------

SHORT TERM NOTES PAYABLE TO SHAREHOLDERS:

12% Interest; principal of $6,597; convertible to common stock

based on 75% of average price; due on 9/3/2009, net of

unamortized discount related to the debt discount of $0 $ 6,597

12% Interest; principal of $293; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 293

12% Interest; principal of $11,000; convertible to common stock

based on 75% of average price; due on 10/9/2009, net of

unamortized discount related to the debt discount of $0 11,000

12% Interest; principal of $31,925; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 31,925

12% Interest; principal of $10,269; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 10,269

12% Interest; principal of $12,500; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 12,500

12% Interest; principal of $15,000; convertible to common stock

based on 75% of average price; due on 8/1/2009, net of

unamortized discount related to the debt discount of $0 15,000

12% Interest; principal of $17; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 17

12% Interest; principal of $5; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 5

12% Interest; principal of $231; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 231

12% Interest; principal of $9,458; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 9,458

12% Interest; principal of $37,133; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 37,133

12% Interest; principal of $5,000; convertible to common stock

based on 75% of average price; due on 10/28/2009, net of

unamortized discount related to the debt discount of $0 5,000

12% Interest; principal of $10,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $3,271 10,000

12% Interest; principal of $13,000; convertible to common stock

based on 75% of average price; due on 8/1/2009, net of

unamortized discount related to the debt discount of $0 13,000

12% Interest; principal of $7,209; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 7,209

12% Interest; principal of $23,847; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 23,847

12% Interest; principal of $20,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 20,000

12% Interest; principal of $25,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 25,000

12% Interest; principal of $70,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 70,000

12% Interest; principal of $36,867; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 36,867

12% Interest; principal of $73,977; convertible to common stock

based on 75% of average price; due on 7/1/2009, net of

unamortized discount related to the debt discount of $0 73,977

12% Interest; principal of $1,112; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discounted related to the debt discount of $0 1,112

12% Interest; principal of $10,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 10,000

12% Interest; principal of $15,000; convertible to common stock

based on 75% of average price; due on 10/29/2009, net of

unamortized discount related to the debt discount of $0 15,000

12% Interest; principal of $50,240; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 50,239

--------

TOTAL SHORT TERM NOTES PAYABLE TO SHAREHOLDERS $495,679

========

SHORT TERM NOTES PAYABLE:

12% Interest; principal of $50,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 $ 50,000

12% Interest; principal of $50,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 50,000

12% Interest; principal of $15,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 15,000

12% Interest; principal of $10,000; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 10,000

12% Interest; principal of $20,500; convertible to common stock

based on 75% of average price; due on 12/31/2009, net of

unamortized discount related to the debt discount of $0 20,500

Non-interest bearing; principal of $100,000; no conversion

feature; due on demand 100,000

--------

TOTAL SHORT TERM NOTES PAYABLE $245,500

International Building Technologies Group, Inc. 10-Q/A