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COMMON STOCK
 9 Months Ended
Sep. 30, 2011
Stockholders Equity Note [Abstract]  
COMMON STOCK
NOTE E – COMMON STOCK
 
At September 30, 2011, the Company’s authorized capital stock was 50,000,000 shares of common stock, par value $0.01 per share, and 1,000,000 shares of preferred stock, par value $0.001 per share.  On that date, the Company had outstanding 32,469,433 shares of common stock, and no shares of preferred stock.
 
During the nine months ended September 30, 2011, the Company issued shares of common stock in the following transactions:
 
 
●
10,000,000 shares of common stock to Darryl Reed, our chief executive officer, in satisfaction of $600,000 of accrued compensation;
 
●
500,000 shares to an employee for compensation valued at $146,500;
 
●
900,000 shares to consultants valued at $240,000;
 
●
10,000,000 shares to Seawright Holdings, Inc. in satisfaction of a note payable to Seawright in the original principal amount of $600,000.
 
On May 18, 2010, the Company affected a 1 for 1,000 reverse split of its common stock.  All share amounts for 2010 have been adjusted to give effect to the reverse split.