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Subsequent Events
6 Months Ended
Jun. 30, 2011
Notes to Financial Statements  
NOTE 13 - Subsequent Events

On July 18, 2011 the Company sold 1,000,000 units in consideration of $250,000 consisting of 1,000,000 shares of common stock and 500,000 warrants. Each warrant allows for the purchase one additional share of common stock at a price of $0.50 per share for two years.

On July 19, 2011 we issued 40,000 units to Mark Holcombe, a director of the Company until such date, in consideration of consisting of 40,000 shares of common stock and 20,000 warrants. Each warrant allows Mr. Holcombe to purchase one additional share of common stock at a price of $0.50 per share for two years. Refer to Form 8-K filed on July 22, 2011.

On July 21, 2011 we issued 100,000 shares to Lawrence H. Wolfe, our Chief Financial Officer, in consideration for the execution and delivery of a consulting agreement with Mr. Wolfe. Refer to Form 8-K filed on July 22, 2011.

On July 21, 2011 we issued 100,000 shares to Zegal and Ross Capital LLC in consideration for the execution and delivery of a consulting agreement with such person.

On July 25, 2011 we issued 100,000 shares to Mendel Mochkin, a director, in consideration for the execution and delivery of a consulting agreement with such person which replaced in its entirety Mr. Mochkin's employment agreement. Mr. Mochkin is an accredited investor. The issuance was conducted in reliance upon an exemption from registration provided under Section 4(2) of the Securities Act of 1933, as amended. Refer to Form 8K filed on July 26, 2011.

On July 19, 2011, Mark Holcombe resigned from his position as a director, effective as of such date. The board of directors of the Company elected Lawrence H. Wolfe and Robert Faber as members of the Board, to serve until their respective successors are duly appointed and qualified. The Board also elected Mr. Wolfe as Chief Financial Officer. Refer to Form 8K filed on July 22, 2011.

On July 25, 2011 Landolt Holdings, Inc., assigned to MeM Mining Partners all rights relating to its $50,000 promissory note dated January 10, 2011 at which time $25,000 was paid. MeM Mining is an entity owned by Mendel Mochkin, a director and officer of the Company.