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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements 
NOTE H - SUBSEQUENT EVENTS

The Company sold and shipped equipment to an oil exploration and production company and received approximately $500,000.  The revenues will be reflected in the fourth quarter.

 

Effective November 14, 2011, the Company issued options to Alberto Di Bella and John A. Di Bella to each purchase 1,900,000 shares of restricted common stock, respectively. The options are exercisable at $0.20 per share for a period of five years from vesting date.  The options were issued in satisfaction of accrued salary and expenses payable in the approximate amounts of $253,250 each.