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PREPAID ACCOUNTS
3 Months Ended
Jun. 30, 2011
PREPAID ACCOUNTS

NOTE 4 – PREPAID ACCOUNTS

 

The prepaid account in amount of $5,551,348 is a cash payment to a Chinese research company for the acquisition of a patent.  During the quarter ended June 30, 2011, $10,050,910 prepayment was refunded by the owner of the patent due to the incompletion of the required transferring paper work.  When the Company obtains the title of the patent, the rest of the payment will be made to the owner of the patent and the prepayment will be reclassified to a patent.