Extractive Industries

3 Months Ended

Mar. 31, 2012

Extractive Industries

Reserves Reported to Other Agencies [Table Text Block]

NOTE 4 – RESERVES AND ALLOWANCES

At March 31, 2012, the allowance for doubtful accounts included in Accounts receivable, trade, net, consisted of the following:

Balance December 31, 2011			$500
Bad debts provision (included in Sales and marketing expenses)			---
Accounts written off			---
Collection of accounts previously written off			---
	Balance March 31, 2012		$500

At March 31, 2012, the reserve for obsolete inventory included in Inventories consisted of the following:

Balance December 31, 2011			$1,000
Provision for obsolete inventory			---
Obsolete inventory written off			---
Reserve for obsolete inventory from discontinued operations			---
	Balance March 31, 2012		$1,000

At March 31, 2012, the reserve for sales returns included in Other current liabilities consisted of the following:

Balance December 31, 2011			$1,500
Return provision – sales			(69)
Return provision – cost of sales			(60)
Returns processed			(371)
	Balance March 31, 2012		$1,000