XML 14 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current Assets:    
Cash and Cash Equivalents $ 62,510   
Miscellaneous Receivable   10,569
Prepaids Expenses   4,950
Total Current Assets   15,519
Property and Equipment - net   29,313
Other Assets:    
Intangible Assets, net   80,549
Security Deposits   500
Total Other Assets   81,049
TOTAL ASSETS   125,881
Current Liabilities:    
Cash Overdraft   1,309
Accounts Payable and Accrued Expenses   290,527
Accrued Officer's Compensation   20,000
Notes Payable - Current Portion   2,157
Loan payables - Officer   81,468
Total Current Liabilities   395,461
Long-term Liabilities:    
Convertible Debenture Payable, net of discount of $167,126 and $73,398 at March 31, 2012 and December 31, 2011, respectively   1,602
Total Liabilities   397,063
COMMITMENTS AND CONTINGENCIES     
Stockholders' Deficiency:    
Cumulative Convertible Series A Preferred Stock, $0.01 par value, 1,000,000 shares authorized, 510,000 shares issued and outstanding at March 31, 2012 and December 31, 2011   $ 5,100
Cumulative Convertible Series B Preferred Stock, $1,000 stated value/ 7.5% cumulative dividend, 4,000 shares authorized; none issued and outstanding at March 31, 2012 and December 31, 2011     
Common Stock, $.01 par value, 200,000,000 shares authorized; 66,335,283 and 64,629,033 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively   $ 646,290
Additional Paid-in Capital   10,934,799
Accumulated Deficit   (11,857,371)
Total Stockholders' Deficiency   (271,182)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY   125,881
Unaudited
   
Current Assets:    
Cash and Cash Equivalents 62,510  
Miscellaneous Receivable 7,562  
Prepaids Expenses 8,512  
Total Current Assets 78,584  
Property and Equipment - net 49,137  
Other Assets:    
Intangible Assets, net 77,772  
Security Deposits 500  
Total Other Assets 78,272  
TOTAL ASSETS 205,993  
Current Liabilities:    
Cash Overdraft     
Accounts Payable and Accrued Expenses 212,835  
Accrued Officer's Compensation 25,000  
Notes Payable - Current Portion     
Loan payables - Officer 113,908  
Total Current Liabilities 351,743  
Long-term Liabilities:    
Convertible Debenture Payable, net of discount of $167,126 and $73,398 at March 31, 2012 and December 31, 2011, respectively 7,874  
Total Liabilities 359,617  
COMMITMENTS AND CONTINGENCIES     
Stockholders' Deficiency:    
Cumulative Convertible Series A Preferred Stock, $0.01 par value, 1,000,000 shares authorized, 510,000 shares issued and outstanding at March 31, 2012 and December 31, 2011 $ 5,100  
Cumulative Convertible Series B Preferred Stock, $1,000 stated value/ 7.5% cumulative dividend, 4,000 shares authorized; none issued and outstanding at March 31, 2012 and December 31, 2011     
Common Stock, $.01 par value, 200,000,000 shares authorized; 66,335,283 and 64,629,033 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively $ 663,353  
Additional Paid-in Capital 11,127,769  
Accumulated Deficit (11,949,846)  
Total Stockholders' Deficiency (153,624)  
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 205,993