NOTE 3 – INCOME TAXES

15 Months Ended

Sep. 30, 2011

Income Tax Disclosure [Text Block]

NOTE 3 – INCOME TAXES

At September 30, 2011 and March 31, 2011, the Company had net deferred tax assets of approximately $2,191,000 and $2,150,000 principally arising from net operating loss carryforward for income tax purposes.  As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the net deferred tax asset, a valuation allowance equal to the net deferred tax asset has been established at September 30, 2011 and March 31, 2011. At September 30, 2011, the Company has net operating loss carryforwards totaling approximately $6,450,000 which will begin to expire in the year 2015.