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CONVERTIBLE PROMISSORY NOTES PAYABLE
6 Months Ended
Jun. 30, 2011
Convertible Promissory Notes Payable Disclosure [Abstract]  
CONVERTIBLE PROMISSORY NOTES PAYABLE
NOTE H - CONVERTIBLE PROMISSORY NOTES PAYABLE
 
The Company entered into a Convertible Promissory Note on July 23, 2010. The Convertible Note accrues interest at 18% per annum which is payable and due quarterly, and matures on July 23, 2011. The note holders have the option to convert any unpaid note principal and accrued interest to the Company’s common stock at a rate of 75% of the average closing price of the last ten days of trading any time after the issuance date of the note.
  
In accordance with Emerging Issues Task Force Issue 98-5, Accounting For Convertible Securities With a Beneficial Conversion Feature or Contingently Adjustable Conversion Ratios (EITF 98-5), the Company allocated, on a relative fair value basis, the net proceeds amongst the common stock, convertible notes and warrants issued to the investors. As of June 30, 2011, the Company recognized a discount to the notes in the amount of $0, as the beneficial conversion feature of the note of zero value. During the three months ended June 30, 2011 the Company recognized $50,000 as a gain in the beneficial conversion feature.