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Consulting Agreement
3 Months Ended
Mar. 31, 2012
Consulting Agreement [Abstract]  
Consulting Agreement [Text Block]
Note 8 – Consulting Agreements
 
On May 24, 2010, the Company entered into an agreement with an individual to become a technical consultant, and to assist in further optimization of the Company’s ducted wind turbines. This individual is currently a professor of senior aircraft design and performance courses at the Clarkson University, in Potsdam, New York, the location of one of the Company’ s wind turbine test sites.  Payment for services is on an hourly basis at an agreed upon rate for work performed for the Company.  In conjunction with the agreement, the individual received 10,000 stock options, vesting over a one-year period.  For the three months ended March 31, 2011, the Company expensed $4,275 relating to these options. As of December 31, 2011, all expenses associated with this stock option grant had been recognized.
On October 11, 2010, the Company entered into an agreement with an individual to become a technical consultant, and to assist further in the development of the Company’s ducted wind turbines. This individual is currently an associate professor of architectural engineering and an adjunct professor of mechanical and nuclear engineering at the Pennsylvania State University in University Park, Pennsylvania. Payment for services is on an hourly basis at an agreed upon rate for work performed for the Company. In conjunction with the agreement, the individual received 5,500 stock options vesting over a three-year period. The Company expensed $9,632 relating to these options for the three months ended March 31, 2012, as compared to $3,911 for the three months ended March 31, 2011.