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PRIOR PERIOD ADJUSTMENT	12 Months Ended
Dec. 31, 2011
Notes to Financial Statements
PRIOR PERIOD ADJUSTMENT	NOTE 3 – PRIOR PERIOD ADJUSTMENT Subsequent to the issuance of the Company’s December 31, 2007 financial statements, management determined that a beneficial conversion feature related to the issuance of convertible notes payable in 2007 was not recorded, in error (see Note 7). In accordance with ASC 470, a beneficial conversion feature of $375,000 was required to be recorded in 2007 since the fair value of the Company’s common stock at the date of the convertible notes payable issuance ($0.016 per share) was greater than the notes payable conversion price of $0.005333 per share. The $375,000 beneficial conversion feature should have been recorded to additional paid-in capital with the offset to discount on convertible notes payable. Accretion of the debt discount related to the beneficial conversion feature, recorded as a charge to interest expense, should have been $152,172 for the year ended December 31, 2007. As a result of the above, the discount on convertible notes payable and stockholders’ deficit was understated by $222,828 on the consolidated balance sheet at December 31, 2007. Interest expense and net loss were understated by $152,172 on the consolidated statement of operations for the year ended December 31, 2007. The impact on loss per share for the year ended December 31, 2007 related to this adjustment was an additional loss of $(0.002) per share. Additional paid-in capital and the deficit accumulated during the development stage as of January 1, 2008 have been adjusted to correct this error.

PRIOR PERIOD ADJUSTMENT

12 Months Ended

Dec. 31, 2011

NOTE 3 – PRIOR PERIOD ADJUSTMENT

Subsequent to the issuance of the Company’s December 31, 2007 financial statements, management determined that a beneficial conversion feature related to the issuance of convertible notes payable in 2007 was not recorded, in error (see Note 7). In accordance with ASC 470, a beneficial conversion feature of $375,000 was required to be recorded in 2007 since the fair value of the Company’s common stock at the date of the convertible notes payable issuance ($0.016 per share) was greater than the notes payable conversion price of $0.005333 per share. The $375,000 beneficial conversion feature should have been recorded to additional paid-in capital with the offset to discount on convertible notes payable. Accretion of the debt discount related to the beneficial conversion feature, recorded as a charge to interest expense, should have been $152,172 for the year ended December 31, 2007. As a result of the above, the discount on convertible notes payable and stockholders’ deficit was understated by $222,828 on the consolidated balance sheet at December 31, 2007. Interest expense and net loss were understated by $152,172 on the consolidated statement of operations for the year ended December 31, 2007. The impact on loss per share for the year ended December 31, 2007 related to this adjustment was an additional loss of $(0.002) per share. Additional paid-in capital and the deficit accumulated during the development stage as of January 1, 2008 have been adjusted to correct this error.

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

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