XML 22 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) (USD $) (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 23,903 $ 73,424
Accounts Receivable 94,765 215,657
Funds in Escrow - Restricted 3,318,978   
Prepaids Expenses 4,154 5,400
Total Current Assets 3,441,800 294,481
Property and Equipment, net 59,895 47,906
Security Deposits 500 500
TOTAL ASSETS 3,502,195 342,887
Current Liabilities:    
Accounts Payable and Accrued Expenses 182,060 225,487
Accrued Officer's Compensation 10,000 5,000
Escrow Liability 3,318,978   
Loans Payable - Officer 8,907 3,988
Total Current Liabilities 3,519,945 234,475
Commitments and Contingencies      
Stockholders' Equity ( Deficiency):    
Cumulative Convertible Series A Preferred Stock; par value $0.01; 1,000,000 shares authorized; 510,000 shares issued and outstanding at authorized; 510,000 shares issued and outstanding at March 31, 2013 and December 31, 2012 5,100 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, 2013 and December 31, 2012      
Common Stock; par value $0.01; 200,000,000 shares authorized; 75,569,569 and 75,455,585 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 755,695 754,555
Additional Paid-in Capital 13,021,926 12,956,535
Accumulated Deficit (13,800,471) (13,607,778)
Total Stockholders' Equity (Deficiency) (17,750) 108,412
Total Liabilities and Stockholders' Equity (Deficiency) $ 3,502,195 $ 342,887