INCOME TAXES

12 Months Ended

Dec. 31, 2011

Income Taxes

Income Tax Disclosure [Text Block]

NOTE 5 – INCOME TAXES

Due to the prior years’ operating losses and the inability to recognize an income tax benefit therefrom, there is no provision for current or deferred income taxes for the year ended December 31, 2011. The cumulative net operating loss carryforward is $5,579,790 at December 31, 2011, and will expire in years through 2031.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for federal income tax purposes.

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of December 31, 2011 and 2010:

	2011			2010
Deferred tax asset attributable to:
Net operating loss carryover	$	1,897,130		$	2,234,243
Less: valuation allowance		(1,897,130	)		(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.