NOTE 4 - LICENSE AGREEMENT

6 Months Ended

Jun. 30, 2011

Intangible Assets Disclosure [Text Block]

NOTE 4 – LICENSE AGREEMENT

During November 2009, the Company licensed the use of certain patents from a third party. This license agreement will aid the Company as it furthers its business plan. The patents are for the conversion of solar energy in to batteries for use with cells phone and iPod chargers. As of June 30, 2011 and December 31, 2010 the license agreement consisted of the following:

	June 30, 2011			December 31, 2010
	Balance			Balance
License agreement	$	196,500		$	196,500
Less: Accumulated amortization		(163,750	)		(112,166	)
Total	$	32,750		$	84,334

For the three months and six months ended June 30, 2011, amortization expense amounted to $28,584 and $51,584, respectively. Accrued payable related to this license agreement as of June 30, 2011 and December 31, 2010 amounted to $30,000 and $50,000, respectively.