Quarterly report pursuant to Section 13 or 15(d)

NOTE 4: NOTES PAYABLE

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NOTE 4: NOTES PAYABLE
6 Months Ended
Jun. 30, 2011
Debt Disclosure [Text Block]
NOTE 4: NOTES PAYABLE

As of June 30, 2011 and December 31, 2010, the aggregate unpaid principal of outstanding notes payable was $75,303 and $103,919, respectively. The notes are unsecured, bear interest between 0% and 10% per annum and mature between on demand and June 30, 2012. A portion of the notes with an aggregate unpaid principal amount of $30,916 at December 31, 2010 was convertible into common stock of Clean Coal at $0.07025 per share. Clean Coal evaluated the notes for a beneficial conversion feature under ASC 470-20 on the date of the notes and determined that none existed. During the quarter ended June 30, 2011, $30,916 of these convertible notes and accrued interest of $614 were converted into 448,822 shares of Clean Coal’s common stock.