XML 22 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events  
Subsequent Events [Text Block]

NOTE 8 -       SUBSEQUENT EVENTS

 

In February 2012, the Company received $21,000 from an existing investor.  The terms of this additional amount loaned are the same as the previous agreement with this investor.  The note is a senior convertible promissory note, with a term of 18 months and an interest rate of 10% per annum.   The principal and interest on the note may be converted into shares of common stock at the lower of $0.20 or a price equal to that of the thirty day moving average of the adjusted closing price for the Company’s common stock.

 

We have evaluated subsequent events pursuant to ASC Topic 855 and have determined that there are no additional events that require disclosure.