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SUBSEQUENT EVENT
9 Months Ended
Sep. 30, 2011
SUBSEQUENT EVENT [Text Block]

NOTE 8 – SUBSEQUENT EVENTS

On November 9, 2011, the Company completed the closing of a private placement in which it issued 11,065,332 units (the “2011 Units”) of common stock and warrants, with each unit consisting of (i) one share of common stock of the Company and (ii) one warrant entitling its owner to purchase one share of the common stock of the Company at a price of $0.15 per share, for a period of 12 months. The aggregate price paid for the 2011 Units was $996,641. Included in this closing, the Company also completed the conversion of $137,319 of its outstanding principal and interest on a note payable owed to a former officer and director of the Company, to equity through the exchange of that debt as consideration for the issuance of 1,525,767 units of common stock and warrants.