NOTES PAYABLE	12 Months Ended
NOTES PAYABLE	Dec. 31, 2011
NOTES PAYABLE [Abstract]
NOTES PAYABLE	8. NOTES PAYABLE In December 2010, the Company converted an outstanding account payable in the amount of $94,500 to a note payable. The note paid interest at a rate of 5.25% per annum and was due on July 1, 2011. Interest only payments were due on the first of each month. This note was paid off in July 2011. On March 3, 2011, the Company issued notes in the principal amount of $26,000. The notes accrued interest at a rate of 5%. The face amount of the notes together with the accrued interest was due on the earlier of 90 days or when the Company raised $5 million through the sale of equity securities. These notes were paid off on April 3, 2011. On March 17, 2011, the Company issued a note to in the principal amount of $121,433. The note accrued interest at a rate of 10% per annum. The face amount of the note together with the accrued interest was due on the earlier of six months or when the Company raised $5 million through the sale of equity securities. This note was paid off on April 14, 2011.

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

AirTouch Communications, Inc. 10-K