DEBT

6 Months Ended

Jun. 30, 2011

Long-term debt consists of the following:

	December 31,
	June 30,		December 31,
	2011		2010
Mortgage payable, interest @ 10% per annum, monthly interest only payment	$	-	$	162,217
of $1,138, due December 2012, collaterized
by a building. The mortgage was paid in full April 2011.

Mortgage payable, interest @ 12% per annum payable monthly, due April 2016,		475,000		-
collateralized by a building and parent company corporate guarantee.

Automobile loans, interest @ 0-5.9% per annum, monthly payments		12,214		29,744
of $2,028 due December 2013

Loan payable, interest @ 15% per annum, due November 2011, collateralized		10,359		9,844
by inventory of the Company's Fregat subsidiary

Note payable to Investment and Consulting Ltd, interest free, due May 2020		984,910		918,729

Note payable to Ak Bars Metall, interest free, due December 2011		4,097,132		3,609,291

Note payble to Ak Bars Development, interest @ 10.1% per annum, due October 2012		4,221,042		3,937,408

Notes payable to Ak Bars Development, interest @ Bank of Russia rate plus 1%
(3.2% at June 30, 2011) - 10.1%, due December 31, 2011		9,203,199		9,174,887

Note payable to Belochay combinat, interest @ 12% per annum
due September 30, 2011		69,477		64,808
		19,073,333		17,906,928
Less current portion		13,383,167		12,877,335
	$	5,690,166	$	5,029,593

The following table shows the maturities by year of the total amount of long-term debt as of June 30, 2011:

Year Ending December 31,
2011	$	13,383,167
2012		4,227,788
2013		2,468
2014		-
2015		-
thereafter		1,459,910
	$	19,073,333

Interest expense on long-term debt for the six months ended June 30, 2011 and 2010 was $480,449 and $9,345, respectively.

- 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

DIVERSIFIED GLOBAL HOLDINGS GROUP INC. 10-Q/A