INCOME TAX EXPENSE BENEFIT VARIED FROM STATUTORY RATE (Tables)

9 Months Ended

Sep. 30, 2013

INCOME TAX EXPENSE BENEFIT VARIED FROM STATUTORY RATE

INCOME TAX EXPENSE BENEFIT VARIED FROM STATUTORY RATE

The Company's income tax expense (benefit) for each of the nine month periods ended September 30, 2013 and 2012 and for the period from August 1, 2007 (date of bankruptcy settlement) through September 30, 2013 varied from the statutory rate of 34% as follows:

							Period from
							August 1, 2007
							(date of
							bankruptcy
	Nine months			Nine months			settlement)
	ended			ended			through
	September 30,			September 30,			September 30,
	2013			2012			2013
Statutory rate applied to
income before income taxes	$	(2,900	)	$	(3,800	)	$	(37,500	)
Increase (decrease) in income
taxes resulting from:
State income taxes		-			-			-
Other, including reserve for
deferred tax asset and application
of net operating loss carryforward		2,900			3,800			37,500
Income tax expense	$	-		$	-		$	-