Subsequent Events

12 Months Ended

Dec. 31, 2012

12.	Subsequent Events

The Company (“TTE”) entered into a Binding Letter of Intent (the “Agreement”) dated January 23, 2013 with BluGen, Inc., a California corporation (“BluGen”) for the purpose of setting the basis for the joint development of a natural gas to Methanol technology (“GTM Technology”). Under the terms of the Agreement, BluGen will work with TTE, and the inventor, Robert Scragg to recreate and expand upon the original designs created by Mr. Scragg and to re-develop a lab version and control system, among other things. These items are to be completed under a timetable that has been agreed upon by the parties.

The parties have agreed to establish, at later date, a Joint Venture, wherein TTE will have 51% interest and BluGen will have a 49% interest, and into which the commercial application of the technology will be developed.

In February 2013, the Company issued a convertible promissory note for $32,500. The note pays interest at 8% per annum, and principal and accrued interest is due on the maturity date of November 2013. The conversion option price associated with the note has a 41 percent discount to the market price of the stock. The market price is based on the average of the three lowest trading prices during a ten day period prior to conversion. The note is convertible at any time. As a result of the variable feature associated with the conversion option, pursuant to ASC Topic 815, the Company bifurcated the conversion option, and utilized the black Scholes model to determine the fair value of the conversion option.

Subsequent to the year ended December 31, 2012, the Company issued 8,275,706 shares of common stock for the conversion of notes payable and accrued interest of $35,550 through March 31, 2013.

In February 2013, the Company issued 1,500,000 shares to one of its debt holders.

In April 2013, the Company issued 1,500,000 shares to one of its debt holders.

Subsequent to year end, the Company issued 4,000,000 shares to an investor to satisfy a common stock payable.