6. Receivable from Former Officer and Director (Tables)

9 Months Ended

Sep. 30, 2012

Receivable From Former Officer And Director Tables

Receivable

This receivable of $682,722 is presented net of $30,540 of approved business expenses and $113,667 in deferred salary:

	September 30,			December 31,
	2012			2011
Gross receivable
Sale of Company common stock, proceeds retained by Mr. Feller	$	640,000		$	640,000
Vintage automobile retained by Mr. Feller		38,100			38,100
Other		4,622			–
Total		682,722			678,100
Offsets to receivable
Alleged commission on stock sales per Mr. Feller's written representation		–			(115,000	)
Deferred salary		(113,667	)		(398,790	)
Expense reports submitted and approved		(30,540	)		(30,540	)
Expense reports to be submitted per Mr. Feller's written representation		–			(133,770	)
Expense reports actually submitted		–			–
Net receivable	$	538,515		$	–