Subsequent Events

9 Months Ended

Sep. 30, 2011

Subsequent Events [Abstract]

Subsequent Events

Note 8. Subsequent Events

We have entered into an arbitration proceeding with our landlord for our Teaneck, New Jersey office regarding two months of office lease payments totaling $9,000. We have agreed with our sub-lease tenant for the Teaneck, New Jersey office that it will compensate us for up to approximately $3,000 against the payments we may owe to the landlord over this time period.

Robert Weinstein, our former Chief Financial Officer, filed a Demand for Arbitration with the New York office of the American Arbitration Association seeking unpaid wages and benefits that Mr. Weinstein is claiming he is owed under the terms of his employment agreement with us. In his Demand for Arbitration, Mr. Weinstein asserts that he is entitled to recovery of approximately $511,000 from our Company.

On September 8, 2011, an action entitled Cooper Electric Supply Co. v. Southside Electric, Inc. was filed in the Superior Court of New Jersey. We were served in October 2011. The plaintiff asserts damages in the amount of approximately $23,700 for non-payment for goods supplied by the plaintiff to Southside. Management believes the resolution of this matter will not materially affect the Company's financial position, results of operations or liquidity.