Income Taxes

9 Months Ended

Sep. 30, 2011

Income Taxes

Note 2- Income Taxes

For the three and nine month periods ended September 30, 2011 and 2010, respectively, the provision for income taxes consisted of the following:

	Three Months Ended September 30,
	2011					2010
	Current		Deferred			Current			Deferred
Tax expense (benefit) before application of operating loss carryforwards	$	781,000	$	( 193,000	)	$	520,000		$	-
Tax expense (benefit) of operating loss carryforwards		-		-			(358,000	)		358,000
Income tax expense (benefit)	$	781,000	$	( 193,000	)	$	162,000		$	358,000

	Nine Months Ended September 30,
	2011					2010
	Current		Deferred			Current			Deferred
Tax expense (benefit) before application of operating loss carryforwards	$	1,765,000	$	( 193,000	)	$	1,255,000		$	-
Tax expense (benefit) of operating loss carryforwards		-		-			(985,000	)		985,000
Income tax expense (benefit)	$	1,765,000	$	( 193,000	)	$	270,000		$	985,000