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Other Income and Expenses
12 Months Ended
Dec. 31, 2011
Other Income and Expenses  
Other Income and Other Expense Disclosure [Text Block]

NOTE K – OTHER INCOME

 

The year 2011 includes $37,268, representing certain excess telecommunication taxes and fees for which the Company has filed refund requests with the appropriate state agencies.

 

During the fourth quarter of 2010, the Company reviewed all of its outstanding liabilities to determine their enforceability and collectability in light of the applicable statute of limitations.  Based upon this review, the Company concluded that by operation of law approximately $1.2 million of its outstanding liabilities are no longer collectable and should be written-off.    These uncollectable liabilities consisting of approximately $456,000 notes payable, $521,000 accrued interest, $165,000 accounts payable and $58,000 common stock issuable were written-off during the fourth quarter to other income.  The basic and diluted per share amount of the write-off was $.15.