FINANCIAL CONDITION AND GOING CONCERN

6 Months Ended

Jun. 30, 2011

Financial Condition and Going Concern [Abstract]

Financial Condition and Going Concern [Text Block]

NOTE 12—FINANCIAL CONDITION AND GOING CONCERN

As of June 30, 2011, the Company had cash on hand of $21,425, investments available for sale of $366,645, a working capital deficit of approximately $5.2 million and has incurred a loss from operations for the six months ended June 30, 2011. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company's continuance is dependent on raising capital and generating revenues sufficient to sustain operations. The Company believes that the necessary capital will be raised and has entered into discussions to do so with certain individuals and companies. However, as of the date of these condensed consolidated financial statements, no formal agreement exists.