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NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (Policy)
9 Months Ended
Sep. 30, 2012
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Use of Estimates:

Use of Estimates -- The preparation of our consolidated financial statements in

conformity with generally accepted accounting principles requires management to

make estimates and assumptions that affect the amounts reported in these

financial statements and accompanying notes. Actual results could differ from

those estimates. Due to uncertainties inherent in the estimation process, it is

possible that these estimates could be materially revised within the next year.

Cash and Cash Equivalents

Cash and Cash Equivalents -- Cash and cash equivalents consist of cash and

highly liquid debt instruments with original maturities of less than three

months.

Property and Equipment

Property and Equipment -- We owned no property and equipment during the three

and nine month periods ended September 30, 2012 or 2011 and consequently we

recorded no depreciation expense during the three and nine month periods ended

September 30, 2012 or 2011.

Deferred Cost and Other

Deferred Costs and Other -- Offering costs with respect to issue of common

stock, warrants or options by us were initially deferred and ultimately offset

against the proceeds from these equity transactions if successful or expensed if

the proposed equity transaction is unsuccessful. We had no deferred costs and

other as at September 30, 2012 or 2011.

Impairment of Long-Lived and Intangible Assets

Impairment of Long-Lived and Intangible Assets -- In the event that facts and

circumstances indicated that the cost of long-lived and intangible assets may be

impaired, an evaluation of recoverability was performed. If an evaluation was

required, the estimated future undiscounted cash flows associated with the asset

were compared to the asset's carrying amount to determine if a write-down to

market value or discounted cash flow value was required.

Income Taxes

Income Taxes -- We account for income taxes under the liability method, which

requires recognition of deferred tax assets and liabilities for the expected

future tax consequences of events that have been included in the financial

statements or tax returns. Under this method, deferred tax assets and

liabilities are determined based on the difference between the financial

statements and tax bases of assets and liabilities using enacted tax rates in

effect for the year in which the differences are expected to reverse.

Financial Instruments

Financial Instruments -- The estimated fair values for financial instruments was

determined at discrete points in time based on relevant market information.

These estimates involved uncertainties and could not be determined with

precision. The carrying amounts of notes receivable, accounts receivable,

accounts payable and accrued liabilities approximated fair value because of the

short-term maturities of these instruments. The fair value of notes payable

approximated to their carrying value as generally their interest rates reflected

our effective annual borrowing rate.

Advertising Costs

Advertising costs -- Advertising costs are expensed as incurred. No advertising

costs were incurred during the three and nine month periods ended September 30,

2012 or 2011.

Comprehensive Income (Loss)

Comprehensive Income (Loss) -- Comprehensive income is defined as all changes in

stockholders' equity (deficit), exclusive of transactions with owners, such as

capital investments. Comprehensive income includes net income or loss, changes

in certain assets and liabilities that are reported directly in equity such as

translation adjustments on investments in foreign subsidiaries and unrealized

gains (losses) on available-for-sale securities. From our inception there were

no differences between our comprehensive loss and net loss.

 

Our comprehensive loss was identical to our net loss for the three and nine

month periods ended September 30, 2012 or 2011.

Income (Loss) Per Share

Income (Loss) Per Share -- Income (loss) per share is presented in accordance

with Accounting Standards Update ("ASU"), Earning Per Share (Topic 260) which

requires the presentation of both basic and diluted earnings per share ("EPS")

on the consolidated income statements. Basic EPS would exclude any dilutive

effects of options, warrants and convertible securities but does include the

restricted shares of common stock issued. Diluted EPS would reflect the

potential dilution that would occur if securities of other contracts to issue

common stock were exercised or converted to common stock. Basic EPS calculations

are determined by dividing net income by the weighted average number of shares

of common stock outstanding during the year. Diluted EPS calculations are

determined by dividing net income by the weighted average number of common

shares and dilutive common share equivalents outstanding.

 

Basic and diluted EPS were identical for the three and nine month periods ended

September 30, 2012 and 2011 as we had no stock options or warrants outstanding

during those periods.

Stock Based Compensation

Stock-Based Compensation -- We have adopted ASC Topic 718, "Accounting for

Stock-Based Compensation," which establishes a fair value method of accounting

for stock-based compensation plans. In accordance with guidance now incorporated

in ASC Topic 718, the cost of stock options and warrants issued to employees and

non-employees is measured on the grant date based on the fair value. The fair

value is determined using the Black-Scholes option pricing model. The resulting

amount is charged to expense on the straight-line basis over the period in which

we expect to receive the benefit, which is generally the vesting period. The

fair value of stock warrants was determined at the date of grant using the

Black-Scholes option pricing model. The Black-Scholes option model requires

management to make various estimates and assumptions, including expected term,

expected volatility, risk-free rate, and dividend yield.

 

No stock based compensation was issued or outstanding during the three and nine

month periods ending September 30, 2012 or 2011.

Business Segments

Business Segments -- We believe that our activities during the three and nine

month periods ended September 30, 2012 and 2011 comprised a single segment.