The note of $225,000 was issued to the Company in connection with the subscription of 10,000,000 series A convertible preferred stock entered into on September 14, 2012. It is due September 14, 2027 and has an interest rate of 3% per annum. For the three months ended March 31, 2013, interest income of $1,054 was recorded. The note was fully settled in cash on February 26, 2013.