2.4.0.8008 - Disclosure - NOTE B - INCOME TAXES -truefalsefalse1false falsefalseContext_FYE__30-Jun-2013http://www.sec.gov/CIK0001403433duration2012-07-01T00:00:002013-06-30T00:00:001true 1us-gaap_IncomeTaxDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Income Tax Disclosure [Abstract]2false 2us-gaap_IncomeTaxDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<table style="text-transform: none; text-indent: 0px; width: 1567px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 49px; font-size: 10pt; font-weight: bold;" nowrap="nowrap">NOTE B </td><td style="text-align: center; width: 14px; font-size: 10pt; font-weight: bold;" nowrap="nowrap"> -  </td><td style="text-align: justify; width: 1504px; font-size: 10pt; font-weight: bold;" nowrap="nowrap">INCOME TAXES –</td></tr><tr style="vertical-align: top;"><td> </td><td style="text-align: center;"> </td><td style="text-align: justify;"> </td></tr><tr style="vertical-align: top;"><td> </td><td style="text-align: center;"> </td><td style="text-align: justify; font-size: 10pt;">As of June 30, 2013, the Company has a net operating loss carryforward, of approximately $189,000, which may be carried forward through 2033, to offset future taxable income.</td></tr><tr style="vertical-align: top;"><td> </td><td style="text-align: center;"> </td><td style="text-align: justify;"> </td></tr><tr style="vertical-align: top;"><td> </td><td style="text-align: center;"> </td><td style="text-align: justify; font-size: 10pt;">Significant components of the Company’s net deferred tax assets and liabilities, currently computed at approximately 20% are as follows:</td></tr></table><p style="text-align: center; text-transform: none; text-indent: 0px; margin: 0px; font: 10pt 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"></p><p style="text-align: justify; text-transform: none; text-indent: 0px; margin: 0px; font: 10pt 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"></p><p style="text-align: justify; text-transform: none; text-indent: 0px; margin: 0px 0px 0px 63pt; font: 10pt 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> </p><p style="text-align: justify; text-transform: none; text-indent: 0px; margin: 0px 0px 0px 63pt; font: 10pt 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"></p><table style="text-transform: none; text-indent: 0px; width: 1410px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; margin-left: 0.9in; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: center; padding-bottom: 1pt; padding-left: 8.65pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="6">JUNE 30,</td><td style="padding-bottom: 1pt;"> </td></tr><tr style="vertical-align: bottom;"><td style="text-align: center; padding-bottom: 1pt; padding-left: 8.65pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="2">2013</td><td style="padding-bottom: 1pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="2">2012</td><td style="padding-bottom: 1pt;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-left: 8.65pt; font-weight: bold;">DEFERRED TAX ASSETS:</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-left: 17.3pt; width: 1076px;">Net Operating Loss Carryforward</td><td style="width: 43px;"> </td><td style="text-align: left; width: 15px;">$</td><td style="text-align: right; width: 84px;">37,000</td><td style="text-align: left; width: 14px;"> </td><td style="width: 42px;"> </td><td style="text-align: left; width: 14px;">$</td><td style="text-align: right; width: 84px;">32,000</td><td style="text-align: left; width: 14px;"> </td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 8.65pt;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; padding-left: 8.65pt; font-weight: bold;">VALUATION ALLOWANCE</td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">(37,000</td><td style="text-align: left; padding-bottom: 1pt;">)</td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">(32,000</td><td style="text-align: left; padding-bottom: 1pt;">)</td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 8.65pt;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 2.5pt; padding-left: 8.65pt; font-weight: bold;">NET DEFERRED TAX ASSETS</td><td style="padding-bottom: 2.5pt;"> </td><td style="border-bottom: black 2.5pt double; text-align: left;">$</td><td style="border-bottom: black 2.5pt double; text-align: right;">—</td><td style="text-align: left; padding-bottom: 2.5pt;"> </td><td style="padding-bottom: 2.5pt;"> </td><td style="border-bottom: black 2.5pt double; text-align: left;">$</td><td style="border-bottom: black 2.5pt double; text-align: right;">—</td><td style="text-align: left; padding-bottom: 2.5pt;"> </td></tr></table><p style="text-transform: none; text-indent: 0px; margin: 0px; font: 13px 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> </p><table style="text-transform: none; text-indent: 0px; width: 1457px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; margin-left: 0.7in; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font-size: 1px;"><td style="text-align: left; padding-left: 8.65pt; width: 1125px;"></td><td style="width: 44px;"> </td><td style="text-align: left; width: 15px;"> </td><td style="text-align: right; width: 88px;"> </td><td style="text-align: left; width: 15px;"> </td><td style="width: 43px;"> </td><td style="text-align: left; width: 14px;"> </td><td style="text-align: right; width: 87px;"> </td><td style="text-align: left; width: 14px;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-left: 8.65pt;" colspan="8">The valuation allowance changed during the two years ended June 30, 2013 from changes in the loss carryforwards.</td><td style="text-align: left;"> </td></tr></table><p style="text-transform: none; text-indent: 0px; margin: 0px; font: 13px 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> </p><table style="text-transform: none; text-indent: 0px; width: 1410px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; margin-left: 0.9in; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; padding-left: 8.65pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="2">2013</td><td style="text-align: left; padding-bottom: 1pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="2">2012</td><td style="text-align: left; padding-bottom: 1pt;"> </td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 8.65pt; width: 1088px;"> </td><td style="width: 43px;"> </td><td style="text-align: left; width: 15px;"> </td><td style="text-align: right; width: 84px;"> </td><td style="text-align: left; width: 14px;"> </td><td style="width: 42px;"> </td><td style="text-align: left; width: 14px;"> </td><td style="text-align: right; width: 84px;"> </td><td style="text-align: left; width: 14px;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-left: 8.65pt;"><b>VALUATION ALLOWANCE -</b> Beginning</td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">32,000</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">27,000</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 8.65pt;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-left: 8.65pt; font-weight: bold;">INCREASE (DECREASE) RELATING TO:</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; padding-left: 17.3pt;">Timing Differences – Net Operating Loss</td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">5,000</td><td style="text-align: left; padding-bottom: 1pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">5,000</td><td style="text-align: left; padding-bottom: 1pt;"> </td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 8.65pt;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 2.5pt; padding-left: 8.65pt;"><b>VALUATION ALLOWANCE –</b> Ending</td><td style="padding-bottom: 2.5pt;"> </td><td style="border-bottom: black 2.5pt double; text-align: left;">$</td><td style="border-bottom: black 2.5pt double; text-align: right;">37,000</td><td style="text-align: left; padding-bottom: 2.5pt;"> </td><td style="padding-bottom: 2.5pt;"> </td><td style="border-bottom: black 2.5pt double; text-align: left;">$</td><td style="border-bottom: black 2.5pt double; text-align: right;">32,000</td><td style="text-align: left; padding-bottom: 2.5pt;"> </td></tr></table><p style="text-transform: none; text-indent: 0px; margin: 0px; font: 13px 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> </p><table style="text-transform: none; text-indent: 0px; width: 1457px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; margin-left: 0.7in; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font-size: 1px;"><td style="padding-left: 8.65pt; width: 1125px;"> </td><td style="width: 44px;"> </td><td style="text-align: left; width: 15px;"> </td><td style="text-align: right; width: 88px;"> </td><td style="text-align: left; width: 15px;"> </td><td style="width: 43px;"> </td><td style="text-align: left; width: 14px;"> </td><td style="text-align: right; width: 87px;"> </td><td style="text-align: left; width: 14px;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-left: 8.65pt;" colspan="8">The income tax provision consisted of the following:</td><td style="text-align: left;"> </td></tr></table><p style="text-transform: none; text-indent: 0px; margin: 0px; font: 13px 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"> </p><table style="text-transform: none; text-indent: 0px; width: 1410px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; margin-left: 0.9in; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; padding-left: 8.65pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="2">2013</td><td style="text-align: left; padding-bottom: 1pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="2">2012</td><td style="text-align: left; padding-bottom: 1pt;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-left: 8.65pt; width: 1088px; font-weight: bold;">CONTINUING OPERATIONS:</td><td style="width: 43px;"> </td><td style="text-align: left; width: 15px;"> </td><td style="text-align: right; width: 84px;"> </td><td style="text-align: left; width: 14px;"> </td><td style="width: 42px;"> </td><td style="text-align: left; width: 14px;"> </td><td style="text-align: right; width: 84px;"> </td><td style="text-align: left; width: 14px;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-left: 17.3pt;">Federal Income Tax Benefit at Expected</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-left: 25.95pt;">Statutory Rates</td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">4,000</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">4,000</td><td style="text-align: left;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; padding-left: 25.95pt;">State Income Tax Benefit</td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">1,000</td><td style="text-align: left; padding-bottom: 1pt;"> </td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">1,000</td><td style="text-align: left; padding-bottom: 1pt;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="padding-left: 8.65pt;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">5,000</td><td style="text-align: left;"> </td><td style="color: black;"> </td><td style="text-align: left; color: black;"> </td><td style="text-align: right; color: black;">5,000</td><td style="text-align: left; color: black;"> </td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; padding-left: 34.6pt; font-weight: bold;">VALUATION ALLOWANCE</td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">(5,000</td><td style="text-align: left; padding-bottom: 1pt;">)</td><td style="padding-bottom: 1pt;"> </td><td style="border-bottom: black 1pt solid; text-align: left;"> </td><td style="border-bottom: black 1pt solid; text-align: right;">(5,000</td><td style="text-align: left; padding-bottom: 1pt;">)</td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 8.65pt;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="background-color: #cceecc; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 2.5pt; padding-left: 8.65pt; font-weight: bold;">NET TAX PROVISION</td><td style="padding-bottom: 2.5pt;"> </td><td style="border-bottom: black 2.5pt double; text-align: left;">$</td><td style="border-bottom: black 2.5pt double; text-align: right;">—</td><td style="text-align: left; padding-bottom: 2.5pt;"> </td><td style="padding-bottom: 2.5pt;"> </td><td style="border-bottom: black 2.5pt double; text-align: left;">$</td><td style="border-bottom: black 2.5pt double; text-align: right;">—</td><td style="text-align: left; padding-bottom: 2.5pt;"> </td></tr></table><p style="text-align: center; text-transform: none; text-indent: 0px; margin: 0px; font: 10pt 'times new roman', times, serif; white-space: normal; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-stroke-width: 0px;"></p><table style="text-transform: none; text-indent: 0px; width: 1567px; border-collapse: collapse; font: 10pt 'times new roman', times, serif; letter-spacing: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 49px; font-size: 10pt; font-weight: bold;" nowrap="nowrap"></td><td style="text-align: center; width: 14px; font-size: 10pt; font-weight: bold;" nowrap="nowrap"></td><td style="width: 1504px; font-size: 10pt; font-weight: bold;" nowrap="nowrap"></td></tr><tr style="vertical-align: top;"><td> </td><td style="text-align: center;"> </td><td> </td></tr><tr style="vertical-align: top;"><td> </td><td style="text-align: center;"> </td><td style="font-size: 10pt;">The Company’s income tax returns are subject to examination for years subsequent to June 30, 2010.  The Company is not currently under any state or Federal tax exams.</td></tr></table>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for income taxes. 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