Subsequent events

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Events [Text Block]

18. Subsequent events

On January 9, 2012, the Company granted $10,000 cash compensation to each of its independent directors in consideration of their time, effort and expertise during the fiscal year ended December 31, 2011.

On January 9, 2012, the Company granted 10,000 cash compensation to Robert P. Traversa in consideration of his services rendered as the Company’s CFO for the fiscal year ended December 31, 2011.

The Company filed a definitive proxy statement (DEF-14A) on February 22, 2012 and will hold a special meeting of the stockholders on March 20, 2012 to approve a reverse/forward stock split.