Note 3. New Accounting Pronouncements

6 Months Ended

Jun. 30, 2014

Notes

Note 3. New Accounting Pronouncements

NOTE 3.  New Accounting Pronouncements

In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-10, Elimination of Certain Financial Reporting Requirements. This standard provides guidance on the presentation of development stage entities, removing all incremental financial reporting requirements from United States Generally Accepted Accounting Principles (“U.S. GAAP”) for development stage entities.  The new requirements are effective for public entities in fiscal years (including interim periods) beginning after December 15, 2014, with early adoption permitted. The Company has elected to adopt this guidance effective June 30, 2014 and no longer present or disclose any information required specifically for development stage entities in our consolidated financial statements.