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Recent Accounting Pronouncements
6 Months Ended
Jun. 30, 2012
Recent Accounting Pronouncements [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS

5. RECENT ACCOUNTING PRONOUNCEMENTS

 

In June, 2011, the FASB issued Accounting Standard Update No 2011-05 “Presentation of Comprehensive Income” (ASU 2011-05). Under ASU 2011-05, an entity has the option to present the total of comprehensive income either in a single continuous statement of comprehensive income or in two separate but continuous statements of income and comprehensive income. The option of presentation of the components of other comprehensive income as part of the statement of change in the stockholders’ equity has been eliminated. This update was applied retrospectively and was effective for the Company for the fiscal year beginning January 1, 2012. For the periods ended June 30, 2011 and June 30, 2012, comprehensive loss was equal to net loss as the Company had no other comprehensive income or loss to report in either period.