RELATED PARTY TRANSACTION	9 Months Ended
Sep. 30, 2011
RELATED PARTY TRANSACTION [Text Block]	NOTE 7 – RELATED PARTY TRANSACTION On August 22, 2011, the Company entered into an agreement with a former officer and director of the Company to repay a note payable in the amount of $137,319 in principal and accrued interest in exchange for 1,525,767 units. Each unit consists of one common share of the Company and one warrant that allows the holder to purchase one common share of the Company at a price of $0.15 per share. The warrants expire twelve months after the issuance of the units.

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details