Note 4 - Significant Events

3 Months Ended

Jun. 30, 2012

Note 4 - Significant Events:

Note 4 - Significant Events

NOTE 4 – SIGNIFICANT EVENTS

On January 24, 2012 the Company consummated a Settlement Agreement with Prentis Tomlinson and PBT Capital Partners (“PBT”) whereby Mr. Tomlinson and PBT agreed to pay the Company a total of $115,000 in the form of seven payments, the last of which is due on July 30, 2012.  The Company received the first payment of $15,000 in January, 2012. No other payments have been received since January 2012.

On March 26, 2012 the Company obtained an Agreed Judgment whereby the District Court of Harris County, Texas, 151st judicial district, ordered and decreed Mr. Tomlinson and PBT to pay the Company the $115,000 pursuant to

the Settlement Agreement, and an additional $251,626.  In addition, the judgment ordered Tomlinson and PBT to pay the Company $5,000 for attorney fees incurred and that the entire judgment total should accrue interest at a rate of 5.0% per annum.  Furthermore, the Company is entitled to a total of $15,000 in attorney’s fees incurred in the enforcement and collection of the judgment. Payments of $10,000 are due at the end of each month until July 30, 2012 when $50,000 is due. No payments have been received since the payment received in January 2012.