Debt

3 Months Ended

Mar. 31, 2012

Debt

Debt Disclosure [Text Block]

NOTE 5 – DEBT

At March 31, 2012, the current portion of debt consisted of the following:

Unsecured term note payable to a former shareholder due January 2012, plus interest at 5% APR. Interest on overdue principal accruing at 10% APR.			$28,783
	Current portion of debt		$28,783

At March 31, 2012, we were in arrears on the unsecured term notes payable to the former shareholder.

Schedule of Extinguishment of Debt [Table Text Block]

NOTE 7 – GAIN ON DEBT SETTLEMNT

During the three months ended March 31, 2012, we recognized income from debt forgiveness totaling $13,814. This income from debt forgiveness mainly results from settlement agreements involving certain of our vendors whom trade payables were owed by us to them as well as a settlement with a former employee with whom we had payroll accrued and unpaid from June 2010 through September 2011. This has been treated as a gain from extinguishment of debt and included in Gain on debt settlement on our Condensed Consolidated Statement of Operations.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax.

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