COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2012

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 4 - COMMITMENTS AND CONTINGENCIES

We are obligated under employment agreements with our officers to make total salary payments of $668,000 per year.

We are defendants in a lawsuit filed by the trustee in bankruptcy for a former consultant, which seeks payment of a $150,000 bonus that was payable in the form of 150,000 shares of common stock, and $60,900 of unpaid consulting fees and travel expense allowances. We terminated the consultant in December 2009 for nonperformance. We contend that no payment is due, and are defending the lawsuit vigorishly.