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BASIS OF PRESENTATION
9 Months Ended
Sep. 30, 2012
Accounting Policies [Abstract]  
Basis of Accounting [Text Block]

Note 1 - Basis of presentation

 

The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X relating to smaller reporting companies.  Accordingly, they do not include all of the information and notes required by generally accepted accounting principles (“GAAP”) for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the nine months September 30, 2012 are not necessarily indicative of the results that may be expected for any future periods or for the year ended December 31, 2012.

 

The balance sheet at December 31, 2011 has been derived from the audited financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements.

 

The accounting policies followed by the Company are set forth in Note 3 to the Company’s consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2011.

 

For further information, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission (“SEC”).