INCOME TAXES

3 Months Ended

Dec. 31, 2011

Notes to Financial Statements

INCOME TAXES

The provision for Federal income tax consists of the following:

	December 31, 2011			December 31, 2010
Federal income tax attributable to:
Current Operations	$	442		$	944
Less: valuation allowance		(442	)		(944	)
Net provision for Federal income taxes	$	—		$	—

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

	December 31, 2011			September 30, 2011
Deferred tax asset attributable to:
Net operating loss carryover	$	22,423		$	21,981
Less: valuation allowance		(22,423	)		(21,981	)
Net deferred tax asset	$	—		$	—

At December 31, 2011, Thompson had an unused net operating loss carryover approximating $65,950 that is available to offset future taxable income; it expires beginning in 2030.