INCOME TAXES

3 Months Ended

Jun. 30, 2011

Income Taxes

Income Tax Disclosure [Text Block]

NOTE 5 – INCOME TAXES

The provision for Federal income tax consists of the following:

	June 30, 2011			June 30, 2010
Refundable Federal income tax attributable to:
Current operations	$	(344,915	)	$	(17,205	)
Less: valuation allowance					-
Less: utilization of net loss carryover		344,915			17,205
Net provision for Federal income taxes	$	-		$	-

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

	June 30, 2011			June 30, 2010
Deferred tax asset attributable to:
Net operating loss carryover	$	1,889,329		$	1,855,252
Less: valuation allowance		(1,889,329	)		(1,855,252	)
Net deferred tax asset	$	-		$	-

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.