Subsequent Event

9 Months Ended

Sep. 30, 2011

Subsequent Event

Subsequent Event:

NOTE 8 — SUBSEQUENT EVENT:

On November 1, 2011, the Company announced that the Board of Directors had declared a ten percent stock dividend on its outstanding Series A 10% Convertible Preferred Stock.  Shareholders of record as of November 15, 2011, will receive the stock dividend for each share of Series A Preferred Stock owned on that date, payable December 1, 2011.   As of November 1, 2011, the Company had 18,774 shares of Preferred Stock outstanding; the total dividend to be paid will consist of 1,863 shares of Series A Preferred Stock with a fair value of $186,300; fractional shares will be accumulated until whole shares can be issued.  Following the issuance of the stock dividend, the Company will have 20,637 shares of Preferred Stock outstanding.  Due to the absence of Retained Earnings, the $1,863 par value of Preferred Stock dividend will be charged against Additional Paid-in Capital.