INCOME TAXES

3 Months Ended

Sep. 30, 2011

Income Taxes

Income Tax Disclosure [Text Block]

NOTE 5 – INCOME TAXES

The provision for Federal income tax consists of the following:

	September 30, 2011			September 30, 2010
Federal income tax benefit attributable to:
Current operations	$	(344,065	)	$	7,840
Less: valuation allowance					-
Less: utilization of net loss carryover		344,065			(7,840	)
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:

	September 30, 2011			December 31, 2010
Deferred tax asset attributable to:
Net operating loss carryover	$	1,890,179		$	2,234,243
Less: valuation allowance		(1,890,179	)		(2,234,243	)
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.