Recent Accounting Pronouncements

9 Months Ended

Sep. 30, 2012

9.	Recent Accounting Pronouncements.

Changes to accounting principles generally accepted in the United States of America (“U.S. GAAP”) are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASU’s”) to the FASB’s Accounting Standards Codification.

The Company considers the applicability and impact of all ASU’s. Those ASU’s not listed below are assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position and results of operations.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

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