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INCOME TAXES
9 Months Ended
Sep. 30, 2011
INCOME TAXES
NOTE 5—INCOME TAXES
       
The Company applies the guidance for accounting for uncertainty in income tax provisions.  As such, the Company is required to recognize in the financial statements only those tax positions determined to be more likely than not of being sustained upon examination, based on the technical merits of the positions. Interest and penalties are expensed as incurred as operating expenses.   There are no uncertain tax positions at September 30, 2011 and December 31, 2010.

At September 30, 2011, the Company had federal and state net operating loss carryforward of approximately $898,000 available to offset future taxable income. The Company’s federal and state net operating loss carryforwards will begin to expire in 2027 if not used before such time to offset future taxable income or tax liabilities. Current and future changes in the stock ownership of the Company may place limitations on the use of these net operating loss carryforwards.