Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

SUBSEQUENT EVENTS:

(10) SUBSEQUENT EVENTS:

On February 19, 2014, the Company entered into a Securities Purchase Agreement with certain investors under which it issued 10,000,000 shares of its common stock, at a purchase price of $0.05 per share, in exchange for $500,000 (the “Private Placement”).

In connection with the closing of the Private Placement, the Company’s Chief Executive Officer, C.E. Rick Strattan, converted his share of Series A Preferred Stock into one million shares of the Company’s common stock. The share of Series A Preferred Stock was the only share of Series A Preferred Stock outstanding. Initially issued in 2004 to Mr. Strattan in exchange for the surrender of 1,029,412 shares of common stock then owned by him, the Series A Preferred Stock carried certain voting rights that entitled its holder to cast a number of votes representing a majority of the votes entitled to be cast by all of the Company’s capital stock. It was convertible by its terms into a number of shares of common stock to be agreed mutually by the Company and the holder at the time of conversion. The conversion was effected through a Conversion Agreement, dated as of February 19, 2014, between the Company and Mr. Strattan. The conversion of the Series A Preferred Stock was a condition to the closing of the Private Placement.