CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash	$ 897,098	$ 973,470
TOTAL ASSETS	897,098	973,470
CURRENT LIABILITIES:
Accounts payable and accrued expenses	24,886	8,917
TOTAL CURRENT LIABILITIES	24,886	8,917
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY :
PREFERRED STOCK, $1.00 par value; 4,000,000 authorized: Series A 10% Convertible Preferred stock; 50,000 shares authorized; 30,215 shares issued and outstanding as of September 30, 2016 and December 31, 2015 : liquidation preference of $3,021,500 as of September 30, 2016 and December 31, 2015	2,061,429	2,061,429
Common stock, $.10 par value 200,000,000 shares authorized; 16,033,862 shares issued and 15,536,275 shares outstanding as of September 30, 2016 and December 31, 2015	1,603,387	1,603,387
Treasury Stock, $.10 par value 497,587 shares as of September 30, 2016 and December 31, 2015	(49,759)	(49,759)
Additional paid-in capital	2,598,058	2,598,058
Accumulated deficit	(5,340,903)	(5,248,562)
TOTAL STOCKHOLDER'S EQUITY	872,212	964,553
TOTAL LIABILITIES, PREFERRED STOCK AND STOCKHOLDER'S EQUITY	$ 897,098	$ 973,470