XML 22 R11.htm IDEA: XBRL DOCUMENT

Restatements

3 Months Ended

Mar. 31, 2012

The Company restated its consolidated financial statements and other financial information for the years ended December 31, 2010 and 2009, and the quarters ended March 31, 2009, June 30, 2009, September 30, 2009, March 31, 2010, June 30, 2010, September 30, 2010, March 31, 2011, June 30, 2011 and September 30, 2011, as a result of the Company’s determination that the original accounting for certain of its unit and convertible note offerings failed to appropriately record separate derivative treatment for the embedded conversion options and the warrants issued. See the restated financial statements included in the Company’s annual report filed on Form 10-K with the Securities and Exchange Commission on October 24, 2012 for more information.

Effect of Correction	As Previously						As
	Reported			Adjustments			Restated
Statement of Operations for the 3 months ended 3/31/2011
Interest Inc (Exp): 2009 Note: Amort of debt discount		(79,149	)		(2,801	)		(81,950	)
Interest Income (Expense)		(2,540	)		2,540			-
Marked to market gain (loss)		-			375,141			375,141
Net Income (Loss)		(380,354	)		374,880			(5,474	)
Basic and Diluted Loss per share		(0.01	)		0.01			(0.00	)

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

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