Note 3 - Spin-Off

9 Months Ended

Sep. 30, 2011

Business Combination Disclosure [Text Block]

Note 3 – Spin-Off

On April 16, 2010, the Company, formerly a wholly-owned subsidiary of Ante4, Inc., was spun-off. As a result, on June 14, 2010 the Company distributed a total of 21,292,333 shares to holders of record of Ante4, Inc. as of the close of trading on April 15, 2010 on a 1:1 basis.

The following table summarizes the fair value of assets acquired and liabilities assumed:

Assets acquired
Cash	$	258,712
Accounts receivable		33,708
Investment in debt securities and related put rights		3,708,363
Contingent consideration receivable		7,532,985
Property and Equipment		15,706
Less: accumulated depreciation and depletion		(11,620	)
Total assets acquired		11,537,854
Liabilities assumed
Accounts payable		449,164
Royalties payable		415,000
Line of credit		2,437,336
Notes payable		500,000
Deferred tax liability		3,144,400
Total fair value of assets, net of liabilities assumed	$	4,591,954