0001477932-12-004324.txt : 20130305 0001477932-12-004324.hdr.sgml : 20130305 20121114115939 ACCESSION NUMBER: 0001477932-12-004324 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 30 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20121114 DATE AS OF CHANGE: 20121116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RELIABILITY INC CENTRAL INDEX KEY: 0000034285 STANDARD INDUSTRIAL CLASSIFICATION: INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825] IRS NUMBER: 750868913 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-07092 FILM NUMBER: 121202286 BUSINESS ADDRESS: STREET 1: 16400 PARK ROW STREET 2: P O BOX 218370 CITY: HOUSTON STATE: TX ZIP: 77218-8370 BUSINESS PHONE: 281-492-0550 FORMER COMPANY: FORMER CONFORMED NAME: FAIRLANE INDUSTRIES INC DATE OF NAME CHANGE: 19800519 10-K/A 1 real_10ka.htm FORM 10-K/A real_10ka.htm


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-K/A
(Amendment No. 2)
 
Annual Report Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
 
For the Fiscal Year Ended December 31, 2011
  
Commission File Number 0-7092
 
RELIABILITY INCORPORATED
(Exact name of registrant as specified in its charter)
  
TEXAS
 
75-0868913
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification Number)
 
410 Park Avenue--15th Floor   New York, New York 10022
 
10022
(Address of principal executive offices)
 
(Zip Code)
 
(212)  231-8359
(Registrant’s telephone number, including area code)
 
Securities registered pursuant to Section 12(b) of the Act: None
 
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, no par value per share
(Title of class)
 
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    YES  ¨    NO  x
 
Indicate by check mark whether the issuer is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act.     YES  ¨    NO  x
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past ninety days.    YES   x     NO   ¨
 
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   o
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
 
Large accelerated filer
 
¨
  
Accelerated filer
 
¨
       
Non-accelerated filer
 
¨  (Do not check if a smaller reporting company)
  
Smaller reporting company
 
x
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12(b)-2 of the Exchange Act).    YES  x    NO  ¨
 
State issuer’s revenues for its most recent fiscal year: 0
 
State the aggregate market value of the voting and non-voting common equity held by non-affiliates; computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of June 30, 2011: $107,500.
 
Number of shares outstanding of the issuer’s Common Stock as of March 7, 2012: 13,513,533.
 
Documents Incorporated by Reference   None.
 


 
1

 
 
RELIABILITY INCORPORATED
 
Form 10-K
TABLE OF CONTENTS
December 31, 2011
 
PART I
 
  
   
Item 1.
  
Description of Business
3
Item 1.(A)
 
Risk Factors.
3
Item 1.(B)   Unresolved Staff Comments. 3
Item 2.
  
Description of Properties
3
Item 3.
  
Legal Proceedings
3
Item 4.
  
Submission of Matters to a Vote of Security Holders
3
 
PART II
     
Item 5.
  
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
4
Item 6.
  
Selected Financial Data
4
Item 7.
  
Management’s Discussion and Analysis or Plan of Operation
4
Item 7A.
  
Quantitative and Qualitative Disclosures About Market Risk
6
Item 8.
  
Financial Statements
6
Item 9.
  
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
6
Item 9A.
  
Controls and Procedures
6
Item 9B.
  
Other Information
6
 
PART III
     
Item 10.
  
Directors, Executive Officers, and Corporate Governance
7
Item 11.
  
Executive Compensation
8
Item 12.
  
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
8
Item 13.
  
Certain Relationships and Related Transactions and Director Independence
9
Item 14.
  
Principal Accountant’s Fees and Services
9
Item 15.
  
Exhibits
10
 
  
Signatures
11

 
2

 

EXPLANATORY NOTE
 
We are filing this Amendment No. 2 of Form 10-K/A (the “Amendment”) to our annual report on Form 10-K for the fiscal year ended December 31, 2011 (the “Original Report”) to revise Item 9A (Controls and Procedures) and Item 15 (Exhibits).  No other changes have been made to the Original Report.  Except as otherwise reflected below, this Amendment speaks as of the filing date of the Original Report and does not reflect events that may have occurred subsequent to the filing of the Original Report.
 
PART I
 
Item 1.
Description of Business
 
THE COMPANY
 
The Company was incorporated under the laws of the State of Texas in 1953, but the principal business of the Company, as described in this report, started in 1971, and was closed down in 2007. The Company had two wholly owned subsidiaries, Reliability Singapore, Pte Ltd. and Reliability Contractors of Florida, neither of which is operating. The Company has no further operating activities and is now a shell company.
 
Based upon its current financial position, and an evaluation of the prospects for continuing to operate, the Company has concluded that it should sell the Company or identify a merger partner. There can be no assurances that the Company will be successful in completing such a transaction or be able to maintain sufficient liquidity over a period of time that will allow it to carry out this action, in which case the Company might be forced to dissolve or seek protection under the Federal bankruptcy statutes, or both.
 
The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.
 
Available sources of liquidity at December 31, 2011 include cash and cash equivalents of $4,000.
 
EMPLOYEES
 
We have no employees.
 
Item 1A.
Risk Factors.
 
The Company Has No Means to Generate Revenue

We have no source of revenue. Our cash balance has been diminished by general and administrative expenses.

The Market For Our Stock Is Not Liquid And The Stock Price Is Subject To Volatility

Our stock is quoted on the OTCQB of the OTC Marketplace under the symbol of "REAL", where low trading volume and high volatility is often experienced. While a few firms make a market in our stock, the historically low trading volume and relatively few market makers of our stock make it more likely that a severe fluctuation in volume, either up or down, will significantly impact the stock price. There can be no assurance that these market makers will continue to quote our stock and a reduction in such market makers would negatively impact trading liquidity. Further, with our constrained resources and increased cost and time associated with implementation of Sarbanes-Oxley, it may not be possible for us to remain listed on the OTC Bulletin Board in the future as a fully reporting company. Lastly, the uncertainty of the future of the Company may limit the liquidity of our stock. This and the existing limited market and volume in the trading of our stock, may result in our stockholders having difficulty selling our common stock. The trading price of our Common Stock has been, and will likely continue to be, subject to wide fluctuations in response to possible claims arising from our asset sale, the uncertainty of the future of the Company, general market fluctuations and other events and factors, some of which may be beyond our control.
 
Item 1B.
Unresolved Staff Comments.
 
Not applicable.
 
Item 2.
Description of Properties.
 
Not applicable
 
Item 3.
Legal Proceedings.
 
Not applicable.
 
Item 4.
Submission of Matters to a Vote of Security Holders.
 
Not applicable.

 
3

 
 
PART II
 
Item 5.
Market for Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
 
The Company’s common stock trades in the over-the-counter bulletin board market under the symbol REAL.  The high and low sale prices for 2010 and 2011 are set forth below.
 
   
First
 Quarter
   
Second
 Quarter
   
Third
 Quarter
   
Fourth
 Quarter
 
2011
                       
High
  $ .025       .035       .021       .05  
Low
    .012       .021       .012       .012  
2010
                               
High
  $ .02     $ .020     $ .030     $ .030  
Low
    .01       .010       .010       .010  
 
The Company paid no cash dividends in 2010 or 2011 and had 190 shareholders of record as of December 31, 2011, not counting the shareholders who hold the Company stock in street name.
 
The following table sets forth the number of shares of the Company’s common stock reserved for issuance under the Company’s equity compensation plan as of December 31, 2011:
 
Plan category
 
Number of securities to be
 issued upon exercise of
 outstanding options,
 warrants and rights
 (a)
   
Weighted-average
 exercise price of
 outstanding options,
 warrants and rights
 (b)
   
Number of securities
 remaining available for
 future issuance under
 equity compensation plans
 (excluding securities
 reflected in column (a))
 (c)
 
Equity compensation plans approved by security holders
  $ 370,000     $ 0.21     $ 0  
Equity compensation plans not approved by security holders
                 
Total
    370,000     $ 0.21       0  
 
No shares of common stock were repurchased by the Company in 2010 or 2011.
 
Item 6.
Selected Financial Data.
 
Not applicable.
 
Item 7.
Management’s Discussion and Analysis or Plan of Operation.
 
Management’s discussion and analysis of its financial condition and results of operations is based on the Company’s Financial Statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosure of contingent assets and liabilities, if any exist. The Company evaluates its estimates on an on-going basis. The Company bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values and disclosure of amounts recorded or disclosed in the Financial Statements of the Company.
 
CRITICAL ACCOUNTING POLICIES

This discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions.
 
Our audited financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company’s current circumstances, including the sale of all its revenue-generating assets and significant operating losses, raise substantial doubt about the likelihood that the Company will continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 
FORWARD-LOOKING STATEMENTS
 
This Management’s Discussion and Analysis and other parts of this report contain forward-looking statements that involve risks and uncertainties, as well as current expectations and assumptions. From time to time, the Company may publish forward-looking statements, including those that are contained in this report, relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. The risks and uncertainties that may affect the operations, performance, development and results of the Company’s business include, but are not limited to, its ability to maintain sufficient working capital, adverse changes in the economy, the ability to attract and maintain key personnel, its ability to identify or complete an acceptable merger or acquisition, and future results related to acquisition, merger or investment activities. The Company’s actual results could differ materially from those anticipated in these forward-looking statements, including those set forth elsewhere in this report. The Company assumes no obligation to update any such forward-looking statements.
 
 
4

 
 
ANALYSIS OF FINANCIAL CONDITION
 
Net cash used by operating activities for the year ended December 31, 2010 was $29,000, compared to $24,000 used by operations during 2011. The  usage of cash in 2011 was attributable to the net loss, which in turn resulted from general and administrative expenses. The principal items contributing to the $29,000 usage of cash in 2010 were a loss of $32,000, offset by an increase in accounts payable and accrued liabilities of $3,000.
 
Financing activities provided $10,000 cash in 2010, while financing activities provided $26,000 cash in 2011.
 
The Company is now a shell corporation. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.
 
Based upon its current financial position, and an evaluation of the prospects for continuing to operate, the Company has concluded that it should sell the Company or identify a merger partner. There can be no assurances that the Company will be successful in completing such a transaction or be able to maintain sufficient liquidity over a period of time that will allow it to carry out this action, in which case the Company might be forced to dissolve or seek protection under the Federal bankruptcy statutes, or both.
 
RESULTS OF OPERATIONS
 
Net Revenues and Gross Profit
 
Revenues and gross profit for 2010 and 2011 are reported as zero for both years, as all operations were discontinued as of September 30, 2007.
 
General and Administrative
 
General and administrative (“G&A”) expenses primarily consist of legal, accounting and other professional services.
 
G&A expenses decreased from $32,000 in 2010 to $24,000 in 2011.

Provision for Income Taxes
 
The Company recorded no provision or benefit for Federal income taxes in 2010 or 2011. Benefits from the tax loss carryforwards have been fully offset by valuation allowances since realization cannot be assured.
 
OFF-BALANCE SHEET ARRANGEMENTS
 
None.
 
 
5

 
 
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk.
 
Not applicable.
 
Item 8.
Financial Statements
 
The financial statements of the Company and the related report of the Company’s independent registered public accounting firm thereon are included in this report on pages 12 through 18.
 
Item 9.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
 
Not applicable
 
Item 9A.       Controls and Procedures.
 
(a) Evaluation of Disclosure Controls and Procedures.The Principal Executive Officer and Principal Financial Officer evaluated the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer concluded that the disclosure controls and procedures as of the end of the period covered by this report were effective such that the information required to be disclosed in reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to the Principal Executive Officer and Principal Financial Officer to allow timely decisions regarding disclosure. A controls system cannot provide absolute assurance, however, that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.
 
Management’s Annual Report on Internal Control over Financial Reporting. Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes of accounting principles generally accepted in the United States.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.
 
The Principal Executive Officer and Principal Financial Officer evaluated the effectiveness of the Company’s internal control over financial reporting as of December 31, 2011. In making this assessment, the Principal Executive Officer and Principal Financial Officer used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control — Integrated Framework. Based on this evaluation, the Principal Executive Officer and Principal Financial Officer  concluded that, as of December 31, 2011, internal control over financial reporting was effective.
 
The financial statements of the Company for 2010 and 2011 have been audited by the independent registered public accounting firm of Ramirez Jimenez International CPA’s who were given unrestricted access to all financial records and related data, including minutes of all meetings of stockholders and the Board of Directors. This annual report does not include an attestation report from the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s public accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.
 
(b) Changes in Internal Control over Financial Reporting. There were no changes in the Company’s internal controls over financial reporting, known to the Principal Executive Officer and Principal Financial Officer, that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.
 
Item 9B.
Other Information
 
Not applicable.
 
 
6

 
PART III
 
Item 10.
Directors Executive Officers, and Corporate Governance.
 
The following table sets forth the name, age and position with the Company of (i) each of the persons appointed to the Company's Board of Directors effective 10 days after this Information Statement is distributed to shareholders and (ii) each of the persons appointed as Executive Officer(s) of the Company as described herein:
 
NAME
 
AGE
 
PRINCIPAL POSITION
Jay Gottlieb
 
67
 
Chairman of the Board of Directors, Secretary and Treasurer
Michael Pearce
 
50
 
Director
Greggory Schneider
 
35
 
Director and Chief Financial Officer
Joshua Krom
 
35
 
Director
Ron Gutterson
 
67
 
Director
 
Below is the biography of the current Member of the Board of Directors:
 
Jay A. Gottlieb is a private investor in various companies since 1998.  He is involved in analysis and investment in undervalued special situations and shell corporations. He presently owns between 5% and 25% of 10 public companies and from 2008 to 2010 was a member of the Board of Directors of Golf Trust of America, Inc. From 1992 to 1998 he was the editor of an investment service that analyzed and published extensive data on companies planning initial public offerings. From 1977 to 1991, Mr. Gottlieb was the President and Chairman of the Board of The Computer Factory, Inc.(NYSE), a nationwide organization involved in retail and direct sales, servicing and leasing of personal computers. From 1969 to 1988, he was President of National Corporate Sciences, Inc., a registered investment advisory service.  Mr. Gottlieb holds a Bachelor of Arts from New York University.
 
Michael Pearce is Chairman of Pernix Therapeutics Holdings, Inc (NYSE Amex:PTX), a specialty pharmaceutical company. From November 2007 to March 2010, he was Chairman and Chief Executive Officer of Golf Trust of America, Inc. (NYSE Amex:GTA). Mr. Pearce has been a private investor in various companies since 2002, with emphasis in distressed securities of publicly traded entities. From late 1999 through 2001, he served as Chief Executive Officer of iEntertainment Network.  From 1996 to 1998, he served as Senior Vice President of Sales and Marketing of publicly traded VocalTec Communications, later returning in 1999 in a consulting capacity to its Chairman on matters pertaining to strategic alternatives, business development and mergers and acquisitions. From 1983 to 1996, he was employed in various technology industry management positions, including Senior Vice President of Sales and Marketing at Ventana Communications, a subsidiary of Thomson Corporation; Vice President of Sales at Librex Computer Systems, a subsidiary of Nippon Steel; and National Sales Manager at Hyundai Electronics America. From 1979 to 1983, he attended Southern Methodist University. 
 
Gregg Schneider is a private investor who specializes in undervalued publicly traded securities.  During the past sixteen years, Mr. Schneider has been an active dealer in numismatic items, specializing in U.S. rare coins and currency.  Mr. Schneider attended two years of courses at UCLA and is involved in several charitable organizations.
 
Joshua Krom is the President of Realty Asset Management, LLC, a full service real estate company which has specialized in acquiring and rapidly repositioning distressed properties with the goal of maximize its investors’ returns.  Mr. Krom has significant experience in the financial analysis of residential portfolios, retail, industrial and apartment buildings.  He is a member of some of the most prominent national Real Estate Owned organizations.  Prior to forming Realty Asset Management, LLC, Mr. Krom practiced real estate and corporate law.  He is a licensed attorney and real estate broker in California and a licensed real estate broker in Nevada.  Mr. Krom received his Juris Doctorate degree from Emory University School of Law where he was a Dean’s Honors recipient.  He graduated with High Honors from the University of California, Santa Barbara where he received a Bachelor of Arts Degree in Communications.

Ron Gutterson has for the last 15 years been President and Chief Operating Officer of Sage Solutions Inc., a New York based computer technology organization.  During this period, he has rendered technology services to the major Fortune 100 corporations of America in the manufacturing, banking, and brokerage industries.  For ten years prior, Mr. Gutterson was Vice President of Sales for the International Operations division of a major home furnishings convertor based out of New York.  He holds a B.S. in Economics and an MBA in Finance.
 
Directors serve a one-year term and hold office until their successors are elected by the shareholders, unless they shall sooner resign.
 
 
7

 
 
Item 11.
Executive Compensation.
 
Summary compensation table
 
The Company has not paid any salary to its officers or Directors in 2011 or 2010.

Under the Company’s Amended and Restated 1997 Stock Option Plan (“Option Plan”), which expired in 2006, stock option grants were available for officers, directors, and key employees. The objective of the Option Plan was to promote the interest of the Company by providing an ownership incentive to officers, directors, and key employees, to reward outstanding performance, and to encourage continued employment. The Board of Directors, which acted as the Plan Administrator, determined to whom options were granted, the type of options, the number of shares covered by such options and the option vesting schedule. All options were issued at market value on the date of the grant and generally had a ten-year contractual term with graded vesting.
 
Outstanding equity awards
 
The following table discloses information regarding all option awards, to executive officers, to purchase the Company’s Common Stock as of December 31, 2011.
 
Option Awards
 
   
Number of Securities Underlying
 Unexercised Options
 
Option
Name
(a)
 
# Exercisable
 (b)
 
# Unexercisable (1)
 (c)
 
Exercise Price
 (e)
 
Expiration Date
 (f)
Larry Edwards (former President)
    200,000       $ .21  
7/19/2016
 
(1)
All issued options are vested and became exercisable on January 20, 2007.
 
Director Compensation
 
None
 
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
 
Principal shareholders
 
Based on information available to the Company through filings with the Securities and Exchange Commission, each of the following persons or groups beneficially owned 5% or more of the 12,013,333 shares of common stock outstanding as of December 31, 2011.

Name and Address of Beneficial Owner
 
Amount and Nature of
 Beneficial Ownership
   
Percent of Class
 
Jay Gottlieb
           
27 Misty Brook Lane, New Fairfield, CT 06812
    4,136,588       34.4 %
William Vlahos
               
601 Montgomery St., Ste. 1112, San Francisco, CA 94111
    1,250,000       10.4 %

 
8

 
 
On August 9, 2010 the Board members unanimously voted to issue Mr. Jay Gottlieb, for his payment of $10,000, 800,000 shares of Company common stock at $.0125 per share, the approximate average of the most recent trades in the Company’s common stock.  In January 2011, the Company issued 1,083,333 shares of common stock for total proceeds of $13,000. In April 2011, the Company issued 500,000 shares for a total of $8,000.  On January 17, 2012 the Board voted to issue 1,500,000 shares to Jay Gottlieb and Gregg Schneider at $0.016 per share for a total of $24,000.
 
Security ownership of management
 
As of December 31, 2011, the amount of common stock owned by the directors of the Company was:

Name of individual or group
 
Amount and Nature of Beneficial
 Ownership (1), (2)
   
Percent of Class (3)
 
Jay Gottlieb
  4,136,588       34.4 %
Gregg Schneider
  1,160,000       9.7  
               
All executive officers and directors as a group
  5,296,588       44.1 %

Item 13.
Certain Relationships and Related Transactions and Director Independence
 
All directors other than Jay Gottlieb and Gregg Schneider are independent.
 
Item 14.
Principal Accountant’s Fees and Services
 
Aggregate fees paid or payable to Ramirez Jimenez International CPA’s in connection with their services during fiscal years 2010 and 2011 are listed below:
 
Fee category
 
2010
   
2011
 
Audit fees
  $ 14,000     $ 14,000  
Audit-related fees
               
Tax fees
               
All other fees
               
                 
Total fees
  $ 14,000     $ 14,000  
 
Audit Fees: Consists of fees billed for professional services rendered for the audits of Reliability’s annual financial statements and the review of Reliability’s quarterly financial statements.
 
Tax Fees: Consists of tax compliance/preparation and other tax services. Tax compliance/preparation consists of fees billed for professional services related to federal, state and international tax compliance. Other tax services consist of fees billed for other miscellaneous tax consulting and planning.
 
 
9

 
 
PART IV
 
Item 15.
Exhibits
 
The following exhibits are filed as part of this report or incorporated by reference:
 
Financial Statements: as referenced in Item 8 hereof
 
3.1
  
Restated Articles of Incorporation (with amendment). Reference is made to Exhibit 3 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 1995.
   
3.2
  
Restated Bylaws. Reference is made to Exhibit 3.2 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2003.
   
3.3
  
Amended Bylaws. Reference is made to Exhibit 3.01 of the Company’s Form 8-K, filed on April 6, 2007.
   
23.1
  
Consent of Independent Registered Public Accounting Firm—Ramirez Jimenez International CPA’s.  
   
31.1
  
Certification of Principal Executive Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act.
     
31.2   Certification of Principal Financial Officer pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act.
   
32.1
  
Certification Pursuant to Rule 13a-14(b)/15d-14(b) and Section 1350, Chapter 63, Title 18 of the United States Code (Certification will not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended).
     
101.INS**   XBRL Instance Document
     
101.SCH**   XBRL Taxonomy Extension Schema Document 
     
101.CAL**   XBRL Taxonomy Extension Calculation Linkbase Document
     
101.DEF**   XBRL Taxonomy Extension Definition Linkbase Document
     
101.LAB**   XBRL Taxonomy Extension Label Linkbase Document
     
101.PRE**   XBRL Taxonomy Extension Presentation Linkbase Document
_______
** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
 

 
10

 

SIGNATURES
 
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Amendment No. 2 to its Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
RELIABILITY INCORPORATED
 
 
(Registrant)
 
       
 DATE:  November 13, 2012
BY
/s/ Jay Gottlieb
 
   
Jay Gottlieb, Chairman of the Board of Directors,
 
   
President
 

 
In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated.
 
     
/s/ Jay Gottlieb
 
DATE: November 13, 2012
Jay Gottlieb, President and Director (Principal Executive Officer)
   
   
/s/ Gregg Schneider
 
DATE: November 13, 2012
Gregg Schneider, Chief Financial Officer and Director (Principal Financial Officer)
   
   
/s/ Michael Pearce
 
DATE: November 13, 2012
Michael Pearce, Director
   
   
/s/ Ron Gutterson
 
DATE: November 13, 2012
Ron Gutterson, Director
   
   
/s/ Josh Krom
 
DATE: November 13, 2012
Josh Krom, Director
   
 

 
 
11

 
 
RELIABILITY INCORPORATED
 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
The Board of Directors and Stockholders
Reliability Incorporated
 
We have audited the accompanying balance sheets of Reliability Incorporated as of December 31, 2011 and 2010, and the related statements of operations, stockholders’ equity (deficit), and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of the Company’s internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
 
In our opinion, the financial statements referred to above present fairly, in all material respects, the  financial position of Reliability Incorporated as of December 31, 2011 and 2010, and the  results of its operations and its cash flows for the years then ended, in conformity with U.S. generally accepted accounting principles.
 
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has no operating activities. It is now a shell company and its future plans are uncertain. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 
 
/s/ Ramirez Jimenez International CPA’s                                
 
 
Irvine, California
March 7, 2012
 

 
12

 
 
RELIABILITY INCORPORATED
BALANCE SHEETS
(In thousands, except share data)
 
ASSETS
  
December 31,
2011
   
December 31,
2010
 
Current assets:
  
             
       Cash and cash equivalents
 
$
4
   
$
2
 
             Total current assets
  
 
4
     
2
 
                 
 
  
             
Total Assets
 
$
4
   
$
2
 
 
  
             
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
  
             
Current liabilities:
  
             
Accounts payable and accrued liabilities
  
$
9
   
$
9
 
Loans from officers
   
5
       
-
                 
             Total current liabilities
  
 
14
     
9
 
 
  
             
Stockholders’ equity (deficit):
  
             
Common stock, without par value; 20,000,000 shares authorized; 12,367,633 and 10,784,300 shares issued respectively
  
 
9,838
     
9,817
 
Accumulated deficit
  
 
(8,754
)
   
(8,730
)
Less treasury stock at cost, 354,300 shares
  
 
(1,094
)
   
(1,094
)
 
  
             
             Total stockholders’ equity (deficit)
  
 
(10
)
   
(7
)
 
  
             
             Total Liabilities and Stockholders’ Equity (Deficit)
  
$
4
   
$
2
 
 
The accompanying notes are an integral part of these statements.
 
 
13

 
 
RELIABILITY INCORPORATED
STATEMENTS OF OPERATIONS
(In thousands, except per share data)
 
   
Year ended December 31,
 
 
  
2011
   
2010
 
Operating expenses:
           
General and administrative
  
$
24
   
$
32
 
                 
               Total cost and expenses
  
 
24
     
32
 
                 
                 
                 
Loss before income taxes
  
 
(24
)
   
(32
)
Provision for income taxes
  
 
-
     
-
 
Net Loss
  
$
(24
)
 
$
(32
)
 
  
             
Basic and diluted loss per share:        
  
$
Nil
   
$
Nil
 
 
  
             
Weighted average shares:
  
             
       Basic
  
 
11,557
     
9,965
 
       Diluted
  
 
11,557
     
9,965
 
 
The accompanying notes are an integral part of these statements.

 
14

 
 
RELIABILITY INCORPORATED
 STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)
(In thousands)
 
   
Common Stock
   
Treasury Stock
 (At Cost)
    Retained
 Earnings
    Total
 Stockholders’
 
   
Shares
   
Amount
   
Shares
   
Amount
   
 (Deficit)
   
Equity (Deficit)
 
                                                 
Balance at December 31, 2009
    9,984     $ 9,807       (354 )   $ (1,094 )   $ (8,698 )   $ 15  
                                                 
Issuance of stock
    800       10                               10  
                                                 
Net loss
                                    (32 )     (32 )
                                                 
Balance at December 31,2010
    10,784     $ 9,817       (354 )   $ (1,094 )   $ (8,730 )   $ (7 )
      444                                          
Issuance of stock
    1,583       21                               21  
                                                 
Net loss
                                    (24 )     (24 )
                                                 
Balance at December 31,2011
    12,367     $ 9,838       (354 )   $ (1,094 )   $ (8,754 )   $ (10 )
 
The accompanying notes are an integral part of these statements.

 
15

 

RELIABILITY INCORPORATED
STATEMENTS OF CASH FLOWS
(In thousands)
 
   
Year ended December 31,
 
 
  
2011
   
2010
 
Cash flows from operating activities:
  
             
Net loss
  
$
(24
)
 
$
(32
)
Changes in operating assets and liabilities:
  
             
Accounts payable and accrued liabilities
   
-
     
3
 
Net cash used by operating activities
  
 
(24
)
   
(29
)
Cash flows from financing activities:
               
Loans from officers
   
5
     
-
 
Issuance of stock for cash
   
21
     
10
 
Net cash provided by financing activities
  
 
26
     
10
 
Net increase (decrease) in cash and cash equivalents
  
 
2
     
(19
)
Cash and cash equivalents:
  
             
       Beginning of period
  
 
2
     
21
 
       End of period
  
$
4
   
$
2
 
Supplemental disclosure of cash flow information:
               
       Cash paid during the period for:
               
       Interest
 
$
-
   
$
-
 
       Income taxes
 
$
-
   
$
-
 
 
The accompanying notes are an integral part of these statements.

 
16

 
 
RELIABILITY INCORPORATED
NOTES TO FINANCIAL STATEMENTS
December 31, 2011
 
1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
GOING CONCERN
 
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has no operating activities and is now a shell company. The Company has concluded that it should sell the company or identify a merger partner. There can be no assurances that the Company will be successful in completing such a transaction or be able to maintain sufficient liquidity over a period of time that will allow it to carry out these actions, in which case the Company might be forced to liquidate or seek protection under the Federal bankruptcy statutes, or both.
 
The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.
 
Two of the Company's stockholder/officers have advanced cash to the Company on a short-term non-interest bearing basis to pay for ongoing general and administrative expenses.  As of December 31, 2011, $5,000 had been advanced and was reflected as Loans from officers.
 
BASIS OF PRESENTATION
 
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States.
 
ACCOUNTING ESTIMATES
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
 
CASH EQUIVALENTS
 
For the purposes of the statements of cash flows, the Company considers all highly liquid cash investments that mature in three months or less when purchased, to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.
 
STOCK OPTIONS
 
Compensation cost relating to stock-based payments, including grants of employee stock options, is recognized in financial statements based on the fair value of the equity instruments issued. The Company adopted the modified-prospective method. Under this method, the Company recognized the fair value of stock-based compensation awards as compensation expense in its statement of operations on a straight line basis, over the vesting period, for awards granted after January 1, 2006.
 
INCOME TAXES
 
Deferred income taxes are provided under the asset and liability method and reflect the net tax effects of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The Company establishes valuation allowances when the realization of specific deferred tax assets is subject to uncertainty. The Company records no tax benefits on its operating losses, as the losses will have to be carried forward and realization of any benefit is uncertain.
 
EARNINGS PER SHARE
 
Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company generated net losses in 2011 and 2010, outstanding stock options would have been anti-dilutive and were not considered in these calculations.
 
FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying values of cash equivalents, accounts payable and accrued liabilities, and loans from officers at December 31, 2011 and 2010 approximated fair value due to their short maturity or nature.
 
2. INCOME TAXES
 
At December 31, 2011, the Company had U.S. net operating loss carryforwards of approximately $15 million that will expire commencing in 2023 through 2030. These carryforwards may be subject to certain limitations on annual utilization in the event of a change in ownership, as defined by tax law. The Company has established valuation allowances to fully offset the deferred income tax assets related to these loss carryforwards, based upon  the available evidence that indicates that it is more likely than not that the Company will not realize the tax benefits.

 
17

 
 
RELIABILITY INCORPORATED
NOTES TO FINANCIAL STATEMENTS—(Continued)
December 31, 2011
 
3. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
 
Accounts payable and accrued liabilities as of December 31, 2011 and 2010 consist of the following (in thousands):
             
   
2010
   
2011
 
Legal and accounting costs
  $ 9     $ 9  
                 
Total
  $ 9     $ 9  
 
4. EMPLOYEE STOCK SAVINGS PLAN
 
The Reliability Incorporated Employee Stock Saving Plan (the “Plan”) (As Amended and Restated Effective January 1, 2000) was terminated effective November 16, 2006, with all accounts fully vested as of such date. The Company filed the termination of the Plan with the Internal Revenue Service to request a favorable letter of determination and notified all employees covered by the Plan of its termination, and their rights to final payment thereunder. The Company received a favorable letter of determination from the Internal Revenue Service.
 
The Plan allowed eligible United States employees to contribute up to 100% of defined compensation to the Plan and to elect to have contributions not be subject to Federal income taxes under Section 401(k) of the Internal Revenue Code. The Company matched employee contributions to the Plan at a rate equal to 50% of the employee’s contribution, but the Company’s matching contribution was limited to 2% of the employee’s defined compensation. The Company also made a voluntary contribution of an amount equal to 1% of the defined compensation of all participants. The Company also contributed a profit sharing amount based on the  profits of the Company. The maximum profit sharing contribution was 5% of compensation. The Company registered and reserved 500,000 shares in 1992, and registered and reserved 500,000 additional shares in 2001, of common stock for sale to the Plan. The registration statements cover shares purchased both in the open market and from the Company. The Plan did not purchase any shares from the Company during the two-year period ending in 2011. At December 31, 2011, 354,300 reserved shares remain unissued under the 2001 registration statement. There are no plans to issue the reserved shares as the plan has been terminated.
  
5. STOCK OPTION PLAN
 
Under the Company’s Amended and Restated 1997 Stock Option Plan (the “Option Plan”), no further option grants are allowed after February 26, 2007, but options theretofore granted remain in effect until satisfied or terminated pursuant to the Option Plan. No options were granted under the Option Plan during the years ended December 31, 2011 and 2010.
 
At December 31, 2006, all options were fully vested; thus no further stock option expense has been recorded related to the Option Plan. The weighted-average remaining contractual term, as of December 31, 2011, was 4.80 years for outstanding and exercisable options. There were no options exercised and none that expired or were canceled during the years ended December 31, 2010 and 2011. As of December 31, 2010 and 2011, there were 370,000 options outstanding under the Company’s Stock Option Plan which are exercisable at a weighted average price of $.21 until July 18, 2016, when they expire.

6. STOCKHOLDERS’ EQUITY

During August 2010, the Company issued 800,000 shares of common stock for proceeds of $10,000.

During January 2011, the Company issued 1,083,333 shares of common stock for proceeds of $13,000. During April 2011, the Company issued 500,000 shares for proceeds of $8,000.

7. SUBSEQUENT EVENTS
 
On January 17, 2012 the Board voted to issue 1,500,000 shares to its officers, Jay Gottlieb and Gregg Schneider, at $0.016 per share for a total of $24,000.  The issuance provided cash of $19,000 and the repayment of $5,000 of Loans from officers. No other material subsequent events have occurred since December 31, 2011 that require recognition or disclosure in the financial statements.

 
18

 
 
EX-23.1 2 real_ex231.htm CONSENT OF AUDITOR real_ex231.htm
Exhibit 23.1
 
RELIABILITY INCORPORATED
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
We consent to the incorporation by reference in the Registration Statements (Form S-8 Nos. 333-26659 and 33-60696) pertaining to the Reliability Incorporated 1997 Stock Option Plan and the Reliability Incorporated Employee Stock Savings Plan and Trust, respectively, of our report dated March 7, 2012, with respect to the financial statements of Reliability Incorporated as of and for the years ended December 31, 2011 and 2010, which is included in Amendment No. 2 to Form 10-K/A.
 
 
/s/ Ramirez Jimenez International CPA’s                                 
 
 
Irvine, California
November 12, 2012
EX-31.1 3 real_ex311.htm CERTIFICATION real_ex311.htm
Exhibit 31.1
 
CERTIFICATION
I, Jay Gottlieb, certify that:
 
 
1.
I have reviewed this report on Form 10-K/A of Reliability Incorporated;
 
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
 
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for the periods presented in this report;
 
 
4.
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
 
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to me by others within the entity, particularly during the period in which this report is being prepared;
 
 
b)
Designed such internal controls over financial reporting, or caused such internal controls over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and preparation of financial statements for external purposes in accordance with generally acceptable accounting principles;
 
 
c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
 
d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
 
5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
 
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
 
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
       
Date: November 13, 2012
By:
/s/ Jay Gottlieb  
    Jay Gottlieb  
    President  
    (Principal Executive Officer)  
EX-31.2 4 real_ex312.htm CERTIFICATION real_ex312.htm
Exhibit 31.2
 
CERTIFICATION
I, Greggory Schneider, certify that:
 
 
1.
I have reviewed this report on Form 10-K/A of Reliability Incorporated;
 
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
 
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for the periods presented in this report;
 
 
4.
The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
 
a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to me by others within the entity, particularly during the period in which this report is being prepared;
 
 
b)
Designed such internal controls over financial reporting, or caused such internal controls over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and preparation of financial statements for external purposes in accordance with generally acceptable accounting principles;
 
 
c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
 
d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
 
5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
 
a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
 
b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
       
Date: November 13, 2012
By:
/s/ Greggory Schneider  
    Greggory Schneider  
    Chief Financial Officer  
    (Principal Financial Officer)  
EX-32 5 real_ex321.htm CERTIFICATION real_ex321.htm
Exhibit 32.1
 
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002
 
In connection with the Annual Report of Reliability Incorporated (the “Company”) on Form 10-K/A for the period ended December 31, 2011, as filed with the Securities and Exchange Commission (the “Report”), the undersigned certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of the undersigned’s knowledge, that:
 
 
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
 
 
2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Issuer.
 
       
Date: November 13, 2012
By:
/s/ Jay Gottlieb  
    Jay Gottlieb  
    President  
    (Principal Executive Officer)  
 
       
Date: November 13, 2012
By:
/s/ Gregg Schneider  
    Gregg Schneider  
    Chief Financial Officer  
    (Principal Financial Officer)  

EX-101.INS 7 real-20111231.xml XBRL INSTANCE DOCUMENT 0000034285 2011-01-01 2011-12-31 0000034285 2012-03-07 0000034285 2011-12-31 0000034285 2010-12-31 0000034285 2010-01-01 2010-12-31 0000034285 2009-12-31 0000034285 us-gaap:CommonStockMember 2010-01-01 2010-12-31 0000034285 us-gaap:CommonStockMember 2011-01-01 2011-12-31 0000034285 us-gaap:CommonStockMember 2009-12-31 0000034285 us-gaap:CommonStockMember 2010-12-31 0000034285 us-gaap:CommonStockMember 2011-12-31 0000034285 us-gaap:TreasuryStockMember 2010-01-01 2010-12-31 0000034285 us-gaap:TreasuryStockMember 2011-01-01 2011-12-31 0000034285 us-gaap:TreasuryStockMember 2009-12-31 0000034285 us-gaap:TreasuryStockMember 2010-12-31 0000034285 us-gaap:TreasuryStockMember 2011-12-31 0000034285 us-gaap:RetainedEarningsMember 2010-01-01 2010-12-31 0000034285 us-gaap:RetainedEarningsMember 2011-01-01 2011-12-31 0000034285 us-gaap:RetainedEarningsMember 2009-12-31 0000034285 us-gaap:RetainedEarningsMember 2010-12-31 0000034285 us-gaap:RetainedEarningsMember 2011-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares 2011 12013333 107500 Smaller Reporting Company Yes No No false 2011-12-31 10-K 0000034285 RELIABILITY INCORPORATED FY --12-31 <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">At December&#160;31, 2011, the Company had U.S. net operating loss carryforwards of approximately $15 million that will expire commencing in 2023 through 2030. These carryforwards may be subject to certain limitations on annual utilization in the event of a change in ownership, as defined by tax law. The Company has established valuation allowances to fully offset the deferred income tax assets related to these loss carryforwards, based upon&#160;&#160;the available evidence that indicates that it is more likely than not that the Company will not realize the tax benefits.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the Company&#146;s Amended and Restated 1997 Stock Option Plan (the<i> &#147;Option Plan&#148;</i>), no further option grants are allowed after February&#160;26, 2007, but options theretofore granted remain in effect until satisfied or terminated pursuant to the Option Plan. No options were granted under the Option Plan during the years ended December&#160;31, 2011 and 2010.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">At December&#160;31, 2006, all options were fully vested; thus no further stock option expense has been recorded related to the Option Plan. The weighted-average remaining contractual term, as of December&#160;31, 2011, was 4.80 years for outstanding and exercisable options. There were no options exercised and none that expired or were canceled during the years ended December&#160;31, 2010 and 2011. As of December&#160;31, 2010 and 2011, there were 370,000 options outstanding under the Company&#146;s Stock Option Plan which are exercisable at a weighted average price of $.21 until July&#160;18, 2016, when they expire.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During August 2010, the Company issued 800,000 shares of common stock for proceeds of $10,000.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During January 2011, the Company issued 1,083,333 shares of common stock for proceeds of $13,000. During April 2011, the Company issued 500,000 shares for proceeds of $8,000.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 17, 2012 the Board voted to issue 1,500,000 shares to its officers, Jay Gottlieb and Gregg Schneider, at $0.016 per share for a total of $24,000.&#160;&#160;The issuance provided cash of $19,000 and the repayment of $5,000 of Loans from officers. No other material subsequent events have occurred since December 31, 2011 that require recognition or disclosure in the financial statements.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Accounts payable and accrued liabilities as of December&#160;31, 2011 and 2010 consist of the following (in thousands):</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td colspan="2" style="line-height: 115%">&#160;</td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td colspan="2" style="line-height: 115%">&#160;</td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%; font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold; text-align: center">2010</td> <td nowrap="nowrap" style="line-height: 115%; font-weight: bold">&#160;</td> <td style="line-height: 115%; font-weight: bold">&#160;</td> <td colspan="2" style="border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold; text-align: center">2011</td> <td nowrap="nowrap" style="line-height: 115%; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 76%; line-height: 115%; text-align: left">Legal and accounting costs</td> <td style="width: 1%; line-height: 115%; text-align: right">&#160;</td> <td style="width: 1%; border-bottom: black 1.5pt solid; line-height: 115%">$</td> <td style="width: 9%; border-bottom: black 1.5pt solid; line-height: 115%; text-align: right">9</td> <td nowrap="nowrap" style="width: 1%; line-height: 115%">&#160;</td> <td style="width: 1%; line-height: 115%; text-align: right">&#160;</td> <td style="width: 1%; border-bottom: black 1.5pt solid; line-height: 115%">$</td> <td style="width: 9%; border-bottom: black 1.5pt solid; line-height: 115%; text-align: right">9</td> <td nowrap="nowrap" style="width: 1%; line-height: 115%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="line-height: 115%; text-align: left">Total</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">9</td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td> <td style="line-height: 115%; text-align: right">&#160;</td> <td style="border-bottom: black 2.25pt double; line-height: 115%">$</td> <td style="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">9</td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td></tr> </table> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Reliability Incorporated Employee Stock Saving Plan (the &#147;Plan&#148;) (As Amended and Restated Effective January&#160;1, 2000) was terminated effective November&#160;16, 2006, with all accounts fully vested as of such date. The Company filed the termination of the Plan with the Internal Revenue Service to request a favorable letter of determination and notified all employees covered by the Plan of its termination, and their rights to final payment thereunder. The Company received a favorable letter of determination from the Internal Revenue Service.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Plan allowed eligible United States employees to contribute up to 100% of defined compensation to the Plan and to elect to have contributions not be subject to Federal income taxes under Section&#160;401(k) of the Internal Revenue Code. The Company matched employee contributions to the Plan at a rate equal to 50% of the employee&#146;s contribution, but the Company&#146;s matching contribution was limited to 2% of the employee&#146;s defined compensation. The Company also made a voluntary contribution of an amount equal to 1% of the defined compensation of all participants. The Company also contributed a profit sharing amount based on the&#160;&#160;profits of the Company. The maximum profit sharing contribution was 5% of compensation. The Company registered and reserved 500,000 shares in 1992, and registered and reserved 500,000 additional shares in 2001, of common stock for sale to the Plan. The registration statements cover shares purchased both in the open market and from the Company. The Plan did not purchase any shares from the Company during the two-year period ending in 2011. At December&#160;31, 2011, 354,300 reserved shares remain unissued under the 2001 registration statement. There are no plans to issue the reserved shares as the plan has been terminated.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>GOING CONCERN</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has no operating activities and is now a shell company. The Company has concluded that it should sell the company or identify a merger partner. There can be no assurances that the Company will be successful in completing such a transaction or be able to maintain sufficient liquidity over a period of time that will allow it to carry out these actions, in which case the Company might be forced to liquidate or seek protection under the Federal bankruptcy statutes, or both.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Two of the Company's stockholder/officers have advanced cash to the Company on a short-term non-interest bearing basis to pay for ongoing general and administrative expenses.&#160;&#160;As of December 31, 2011, $5,000 had been advanced and was reflected as Loans from officers.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>BASIS OF PRESENTATION</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>ACCOUNTING ESTIMATES</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>CASH EQUIVALENTS</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For the purposes of the statements of cash flows, the Company considers all highly liquid cash investments that mature in three months or less when purchased, to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>STOCK OPTIONS</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Compensation cost relating to stock-based payments, including grants of employee stock options, is recognized in financial statements based on the fair value of the equity instruments issued. The Company adopted the modified-prospective method. Under this method, the Company recognized the fair value of stock-based compensation awards as compensation expense in its statement of operations on a straight line basis, over the vesting period, for awards granted after January&#160;1, 2006.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>INCOME TAXES</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred income taxes are provided under the asset and liability method and reflect the net tax effects of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The Company establishes valuation allowances when the realization of specific deferred tax assets is subject to uncertainty. The Company records no tax benefits on its operating losses, as the losses will have to be carried forward and realization of any benefit is uncertain.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>EARNINGS PER SHARE</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company generated net losses in 2011 and 2010, outstanding stock options would have been anti-dilutive and were not considered in these calculations.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>FAIR VALUE OF FINANCIAL INSTRUMENTS</i></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying values of cash equivalents, accounts payable and accrued liabilities, and loans from officers at December 31, 2011 and 2010 approximated fair value due to their short maturity or nature.</p> 4000 2000 21000 4000 2000 4000 2000 9000 9000 14000 9000 5000 1094000 1094000 -8754000 -8730000 9838000 9817000 -10000 -7000 15000 9807000 9817000 9838000 -1094000 -1094000 -1094000 -8698000 -8730000 -8754000 4000 2000 20000000 20000000 12367633 10784300 0 0 354300 354300 24000 32000 24000 32000 -24000 -32000 -24000 -32000 -32000 -24000 11557 9965 11557 9965 3000 -24000 -29000 21000 10000 26000 10000 5000 2000 -19000 9984 10784 12367 -354 -354 -354 21000 10000 10000 21000 800 1583 EX-101.SCH 8 real-20111231.xsd XBRL TAXONOMY EXTENSION SCHEMA 0001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 0002 - Statement - BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 0003 - Statement - BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 0004 - Statement - STATEMENTS OF OPERATIONS link:presentationLink link:calculationLink link:definitionLink 0005 - Statement - STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) link:presentationLink link:calculationLink link:definitionLink 0006 - Statement - STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 0007 - Disclosure - OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 0008 - Disclosure - INCOME TAXES link:presentationLink link:calculationLink link:definitionLink 0009 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES link:presentationLink link:calculationLink link:definitionLink 0010 - Disclosure - EMPLOYEE STOCK SAVINGS PLAN link:presentationLink link:calculationLink link:definitionLink 0011 - Disclosure - STOCK OPTION PLAN link:presentationLink link:calculationLink link:definitionLink 0012 - Disclosure - STOCKHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 0013 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 real-20111231_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 real-20111231_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 real-20111231_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Common Stock Statement, Equity Components [Axis] Treasury Stock (At Cost) Retained Earnings (Deficit) Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS Current assets: Cash and cash equivalents Total current assets Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued liabilities Loans from officers Total current liabilities Stockholders' equity (deficit): Common stock, without par value; 20,000,000 shares authorized;12,367,633 and 10,784,300 shares issued respectively Accumulated deficit Less treasury stock at cost, 354,300 shares Total stockholders' equity (deficit) Total Liabilities and Stockholders' Equity (Deficit) Common stock par value Common stock shares authorized Common stock shares issued Treasury stock shares Income Statement [Abstract] Operating expenses: General and administrative Total cost and expenses Loss before income taxes Provision for income taxes Net Loss Basic and diluted loss per share: Weighted average shares: Basic Diluted Statement [Table] Statement [Line Items] Beginning Balance, Amount Beginning Balance, Shares Issuance of stock, Amount Issuance of stock, Shares Net loss Ending Balance, Amount Ending Balance, Shares Statement of Cash Flows [Abstract] Cash flows from operating activities: Changes in operating assets and liabilities: Accounts payable and accrued liabilities Net cash used by operating activities Cash flows from financing activities: Loans from officers Issuance of stock for cash Net cash provided by financing activities Net increase (decrease) in cash and cash equivalent Cash and cash equivalents: Beginning of period End of period Supplemental disclosure of cash flow information: Cash paid during the period for: Interest Cash paid during the period for: Income taxes Notes to Financial Statements Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Note 2 - INCOME TAXES Note 3 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Note 4 - EMPLOYEE STOCK SAVINGS PLAN Note 5 - STOCK OPTION PLAN Note 6 - STOCKHOLDERS' EQUITY Note 7 - SUBSEQUENT EVENTS Assets, Current Assets Liabilities, Current Treasury Stock, Value Stockholders' Equity Attributable to Parent Liabilities and Equity Operating Expenses Shares, Issued Increase (Decrease) in Accounts Payable and Accrued Liabilities Net Cash Provided by (Used in) Operating Activities Proceeds from Loans Net Cash Provided by (Used in) Financing Activities Custom Element Custom Element EX-101.PRE 12 real-20111231_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 1013 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 1014 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 3 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities as of December 31, 2011 and 2010 consist of the following (in thousands):

 

             
    2010     2011  
Legal and accounting costs   $ 9     $ 9  
                 
Total   $ 9     $ 9  

 

EXCEL 1015 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`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`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$2!# M96YT3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^,#`P,#`S-#(X-3QS<&%N/CPO'0^,3`M2SQS<&%N/CPO'0^+2TQ,BTS,3QS<&%N/CPO'0^3F\\2=S(%)E<&]R=&EN9R!3=&%T=7,@0W5R'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$2!#;VUM;VX@ M4W1O8VLL(%-H87)E'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^1ED\'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM M/5].97AT4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B-%]A-3=C8S-B.3)F M-#D-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,F5D,61E9CE?,V0Y M,E\T-V$Q7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3PO=&0^#0H@("`@ M("`@(#QT9"!C;&%S2`H9&5F:6-I="D\ M+W1D/@T*("`@("`@("`\=&0@8VQA3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\R960Q9&5F.5\S M9#DR7S0W83%?8C5B-%]A-3=C8S-B.3)F-#D-"D-O;G1E;G0M3&]C871I;VXZ M(&9I;&4Z+R\O0SHO,F5D,61E9CE?,V0Y,E\T-V$Q7V(U8C1?834W8V,S8CDR M9C0Y+U=O'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^)FYB M'0^)FYB'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B-%]A-3=C8S-B M.3)F-#D-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,F5D,61E9CE? M,V0Y,E\T-V$Q7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM M/5].97AT4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B-%]A-3=C8S-B.3)F M-#D-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,F5D,61E9CE?,V0Y M,E\T-V$Q7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!O<&5R871I;F<@86-T:79I=&EE2!F:6YA;F-I;F<@86-T M:79I=&EE'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$'0^)FYB'0^)FYB7!E.B!T97AT+VAT;6P[ M(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@ M/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E M>'0O:'1M;#L@8VAA2<^)B,Q-C`[/"]P M/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO2!O2!A(&UE2!W:6QL(&)E('-U8V-E2!O=70@=&AE2!M:6=H="!B92!F;W)C960@=&\@;&EQ=6ED M871E(&]R('-E96L@<')O=&5C=&EO;@T*=6YD97(@=&AE($9E9&5R86P@8F%N M:W)U<'1C>2!S=&%T=71E6QE/3-$ M)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E M'0M86QI9VXZ(&IU2<^5&AE(&%C8V]M<&%N>6EN9R!F:6YA;F-I86P@2!A;F0@8VQA2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO M6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-E'0M86QI9VXZ(&IU2<^/&D^0D%325,@3T8@4%)%4T5.5$%424]./"]I/CPO M<#X-"@T*/'`@2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T M+VYO6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI M9VXZ(&IU2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO M'!E;G-E2!D:69F97(@9G)O;2!T:&]S90T*97-T:6UA=&5S+CPO<#X-"@T*/'`@2<^)B,Q M-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO2!C;VYS:61E M2!L:7%U:60@8V%S:"!I;G9E6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI M9VXZ(&IU2<^/&D^4U1/0TL@3U!424]. M4SPO:3X\+W`^#0H-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M M86QI9VXZ(&IU2<^0V]M<&5N6UE;G1S+"!I;F-L M=61I;F<@9W)A;G1S(&]F(&5M<&QO>65E('-T;V-K(&]P=&EO;G,L(&ES(')E M8V]G;FEZ960@:6X@9FEN86YC:6%L('-T871E;65N=',@8F%S960@;VX@=&AE M(&9A:7(@=F%L=64@;V8@=&AE(&5Q=6ET>0T*:6YS=')U;65N=',@:7-S=65D M+B!4:&4@0V]M<&%N>2!A9&]P=&5D('1H92!M;V1I9FEE9"UP2!R96-O M9VYI>F5D('1H92!F86ER('9A;'5E#0IO9B!S=&]C:RUB87-E9"!C;VUP96YS M871I;VX@87=A'!E;G-E(&EN(&ET2<^)B,Q M-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M M86QI9VXZ(&IU2!D M:69F97)E;F-E2!E2!R96-O"!B M96YE9FET2<^ M)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q,'!T+VYO6QE/3-$)V9O;G0Z(#$P<'0O M;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI9VXZ(&IU2!G96YE6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-E'0M86QI9VXZ(&IU2<^)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=F;VYT.B`Q M,'!T+VYO6%B;&4-"F%N M9"!A8V-R=65D(&QI86)I;&ET:65S+"!A;F0@;&]A;G,@9G)O;2!O9F9I8V5R M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B-%]A-3=C8S-B.3)F-#D-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,F5D,61E9CE?,V0Y,E\T-V$Q M7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-E'0M86QI9VXZ(&IU'!I2!T87@@;&%W+B!4:&4@0V]M<&%N>2!H M87,@97-T86)L:7-H960-"G9A;'5A=&EO;B!A;&QO=V%N8V5S('1O(&9U;&QY M(&]F9G-E="!T:&4@9&5F97)R960@:6YC;VUE('1A>"!A'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)W9E6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E)SXF(S$V,#L\+W1D/@T* M("`@(#QT9"!N;W=R87`],T1N;W=R87`@6QE/3-$)VQI;F4M:&5I M9VAT.B`Q,34E)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!C;VQS<&%N/3-$,B!S M='EL93TS1"=L:6YE+6AE:6=H=#H@,3$U)2<^)B,Q-C`[/"]T9#X-"B`@("`\ M=&0@;F]W6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E M)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@6QE/3-$)VQI;F4M:&5I9VAT.B`Q M,34E)SXF(S$V,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=L:6YE+6AE:6=H M=#H@,3$U)3L@9F]N="UW96EG:'0Z(&)O;&0G/B8C,38P.SPO=&0^#0H@("`@ M/'1D(&-O;'-P86X],T0R('-T>6QE/3-$)V)O'0M86QI9VXZ(&-E;G1E6QE M/3-$)VQI;F4M:&5I9VAT.B`Q,34E.R!F;VYT+7=E:6=H=#H@8F]L9"<^)B,Q M-C`[/"]T9#X-"B`@("`\=&0@8V]L6QE/3-$)VQI;F4M M:&5I9VAT.B`Q,34E.R!F;VYT+7=E:6=H=#H@8F]L9"<^)B,Q-C`[/"]T9#X\ M+W1R/@T*/'1R('-T>6QE/3-$)W9E6QE/3-$)W=I9'1H.B`Q)3L@ M8F]R9&5R+6)O='1O;3H@8FQA8VL@,2XU<'0@'0M86QI9VXZ(')I9VAT)SXY/"]T9#X-"B`@("`\=&0@;F]W M6QE/3-$)W=I9'1H.B`Q)3L@;&EN92UH96EG:'0Z M(#$Q-24G/B8C,38P.SPO=&0^/"]T6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E)SXF(S$V,#L\+W1D M/@T*("`@(#QT9"!S='EL93TS1"=L:6YE+6AE:6=H=#H@,3$U)2<^)B,Q-C`[ M/"]T9#X-"B`@("`\=&0@6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E M.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@;F]W M6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E)SXF(S$V M,#L\+W1D/@T*("`@(#QT9"!S='EL93TS1"=L:6YE+6AE:6=H=#H@,3$U)2<^ M)B,Q-C`[/"]T9#X-"B`@("`\=&0@6QE/3-$)VQI;F4M:&5I9VAT M.B`Q,34E.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\ M=&0@;F]W6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E M)SXF(S$V,#L\+W1D/CPO='(^#0H\='(@6QE/3-$)VQI;F4M:&5I9VAT.B`Q,34E.R!T97AT+6%L:6=N.B!L M969T)SY4;W1A;#PO=&0^#0H@("`@/'1D('-T>6QE/3-$)VQI;F4M:&5I9VAT M.B`Q,34E.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\ M=&0@6QE/3-$)VQI;F4M:&5I9VAT.B`Q M,34E.R!T97AT+6%L:6=N.B!R:6=H="<^)B,Q-C`[/"]T9#X-"B`@("`\=&0@ M3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B-%]A-3=C8S-B M.3)F-#D-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,F5D,61E9CE? M,V0Y,E\T-V$Q7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$6QE/3-$ M)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E M'0M86QI9VXZ(&IU2!);F-O2!V97-T960@87,@;V8@2!F:6QE9"!T:&4@=&5R;6EN871I;VX@;V8@=&AE(%!L M86X@=VET:"!T:&4@26YT97)N86P@4F5V96YU92!397)V:6-E#0IT;R!R97%U M97-T(&$@9F%V;W)A8FQE(&QE='1E6QE/3-$)V9O;G0Z M(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI9VXZ(&IU2<^5&AE(%!L86X@86QL;W=E9"!E;&EG:6)L92!5;FET960@4W1A=&5S#0IE M;7!L;WEE97,@=&\@8V]N=')I8G5T92!U<"!T;R`Q,#`E(&]F(&1E9FEN960@ M8V]M<&5N&5S('5N9&5R(%-E8W1I;VXF(S$V,#LT,#$H:RD@;V8@=&AE($EN M=&5R;F%L(%)E=F5N=64@0V]D92X@5&AE($-O;7!A;GD@;6%T8VAE9"!E;7!L M;WEE92!C;VYT65E)B,Q-#8[2!A;'-O(&-O;G1R:6)U=&5D(&$@<')O9FET M('-H87)I;F<@86UO=6YT(&)A2!S:&%R97,@9G)O;2!T:&4@0V]M<&%N>2!D=7)I;F<@ M=&AE('1W;RUY96%R#0IP97)I;V0@96YD:6YG(&EN(#(P,3$N($%T($1E8V5M M8F5R)B,Q-C`[,S$L(#(P,3$L(#,U-"PS,#`@6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-E'0M86QI9VXZ M(&IU'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA6QE/3-$)V9O;G0Z(#$P<'0O M;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI9VXZ(&IU28C,38P.S(V+`T*,C`P-RP@8G5T(&]P=&EO;G,@=&AE6QE/3-$)V9O M;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI9VXZ(&IU'!E;G-E(&AA'!I&5R8VES86)L92!A M="!A('=E:6=H=&5D(&%V97)A9V4-"G!R:6-E(&]F("0N,C$@=6YT:6P@2G5L M>28C,38P.S$X+"`R,#$V+"!W:&5N('1H97D@97AP:7)E+CPO<#X\'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA6QE/3-$)V9O;G0Z(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-E'0M86QI9VXZ(&IU6QE/3-$)V9O;G0Z M(#$P<'0O;F]R;6%L(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E'0M86QI9VXZ(&IU2!I3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B M-%]A-3=C8S-B.3)F-#D-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M,F5D,61E9CE?,V0Y,E\T-V$Q7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA M6UE;G0@;V8@)#4L,#`P(&]F($QO86YS M(&9R;VT@;V9F:6-E3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B M-%]A-3=C8S-B.3)F-#D-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M,F5D,61E9CE?,V0Y,E\T-V$Q7V(U8C1?834W8V,S8CDR9C0Y+U=O'0O:'1M;#L@8VAA M&UL;G,Z;STS1")U&UL/@T*+2TM+2TM/5].97AT4&%R J=%\R960Q9&5F.5\S9#DR7S0W83%?8C5B-%]A-3=C8S-B.3)F-#DM+0T* ` end XML 1016 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
INCOME TAXES
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 2 - INCOME TAXES

At December 31, 2011, the Company had U.S. net operating loss carryforwards of approximately $15 million that will expire commencing in 2023 through 2030. These carryforwards may be subject to certain limitations on annual utilization in the event of a change in ownership, as defined by tax law. The Company has established valuation allowances to fully offset the deferred income tax assets related to these loss carryforwards, based upon  the available evidence that indicates that it is more likely than not that the Company will not realize the tax benefits.

ZIP 1017 0001477932-12-004324-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001477932-12-004324-xbrl.zip M4$L#!!0````(``%@;D&IP+<"D!D```ZV```1`!P`6L)AG;:SNS.Y^V:!*2L*$(#4%:]OSZU]T`>$C4:=G6C)U* M)38)H!M]`]T`W_W];A"P6QXI(55M7QYW.%OO[ MA__]'P9_WOVM6F6G@@?^(3N17K43=N41.W,'_)!]XB&/W%A&1^Q7-TC@R3__ MW0EC>.;%XI;#4PWFD#6WZSU6K2XPYI5,(H^G`UZVOW1:'SM?.M>__:?N?-Z^ MZP*P$S>&5PVGWJ@YS9JS>]UP#NO-P[?.@B!B-TY4"L*Y<\P?W?W=W4T4B$/\ MEP&M0G5XI\3[K7X<#P]KM=%HM#UJ;LNH5VLX3KWV[U^^7'E]/G"K(E2Q&WI\ MR_8*1/BMK%_]X."@1F]MTXF6"-S":-;P]8VKLI$1P1GM)S"!MWZ<=L@WWJGI MEX6FHK3IKFXJ;%.?C[53W-ONR=L:O(#V]7K5J5>;==L\XMVI*._6X*UM*)1\ MVZCOS9J?;F$[)*K:<]UAVJ'KJAMJ;%Z4(`-O(AEP5=J'WI1T"F48)H-RO/PX MJL7W0UZ#1E5HQ2/AI?WF=RIV`!SP<3EV]*8$N\MVZTO:(>*!<&]$(.+[;4\. MJ'F]`8VM>J!('2H2W$O>922-AWWB4<3=H&H[;-\I?\N\1LCOMY08#`,0K9H= M2JN+)T'Q[V(F_/=;IY$<6`2=>BSIYWJCFL%/N_$P!AS3I^ESX>.;KN`1(RQY M@8)6THX[G[<^D.HVWS;V=][5QCMGX&JE\`RT(5!?^I-8@!I%,5J;#]ET[$C9 MNXEN//2S3C3O#+Q?Z&*?%Q"P#PU)I].YI7RSYAS\ M*6F;":.=P%,+XW^.Y6`@PZM8>M]^X8,;'CT;"3.)X[T!S\T]?>4#,G?#0'@B MUK@R7T!+O3@Q\=LA!NP<^[=_3P!OF-]0AO"K:MT)M?7!-IN8][M:*8@\>K5R M_/Z2>C4]+'L5F8T0F4V-,*TE>Q63YQ*3I_(JQ3CPE=_/S^_'#6F+BZ-7?F\` MOQ]UG3+\VN/,)!2:[5^O3B:8.J`0FW\P18"' MT,8.9E\50>!H4\:_ZKL15U-!&'I1HY5A`'X74^#XXA:D:9*VV/<,2P*QMG92 MF):@P3B.9:/F@)[P4`Y$.`_L?+J,PRT;V+XO4*&,H#X7AR?22U!J3X7RW.`W M[D:G\$0Q(S^76+@XJ^P0?WY7FS%2'EB;-"&7%-#\.T]BE&RLE"[`'2O#8X@[ MO3!L9S[WQ,`-U/NMSMGIUH$` M$L[>CN/D4<@-.@GQ5`0\.@;[U)/1_<)4OP)PT(]=\J&,8J0;&C4WO,_#+0Q= MPH8DBH!=Z1"Z>GMA%'Y#$9TWVB347V60A!#K:NP6!W!)]# M.0JO0'W`V/L=I1(@V&K@IHR6!]L"T?=)_`.WMS"8+D@-UY`*`Y1IZ`69^;8. M^9?23^M&IHY6!N[Z?K@X%`A2/A?'Q^XE,@=O(C?HA#Z_^\P7E_=\M#!UM$EP ME[PG%#0)8SR@L#"TW-D(UCD[/K^\.+]L7;=/\K"+0T^WJ)K.R]G4T]_*+&IN MI#PXHWB9U5U60JIY\9@VFH5H8Z5.Z,D!OW;O3J!E(-%#70.PCP'8V84A_QC$ M1T.FXOL``L4N=#ID=6<8UT(9@7UCUQ#)*7;&1^Q2#MRPHA]4V!40HGO$!F[4 M$^$AC!K_]-%$21]UL_]N*C5LQ.N$?QVH_N8'CT77W7.6K6*WC$ M!?Z-^]S:3=9W??9U^VJ;A3QF"=&T7W71F-W,A73':9 M.QQ&\@[L?LR#>_9]?8<-1!!`W`G#@O<8P2\,0D81(2<&P$8/S;0(`7:C"6TB MF?3Z\$O3V6;7?:[X&(B!>\]N.%/)S7^Y%Q,BL60>CS!(98$8"+"P``Z0"9D; MA@E0+(E%(/Z@QP@)Y\=O@9V$+_/Z;MCC^`(L&5C-OAA6F*O`?74Q[&4W]RQV M[UC@C@BC'&D4X^`SP8NI/O<)E5LW2#0<<$1RA(=B%`/\NDD`U)#=K@(R(GP8 MG(-(^0`6)88@N`K>*A;Q`(CG8[>8"#!)Z`K#XSD^2R!@SSB8_03]"!WWUA4! M((CSQ76$QS47!/AY#X`H\RO\!>(9!KW=/5*,_!JP$$(N8M4EBA*RO7YPL,RBU)#`\(H$1^@%L)? MWNV">D)`"*K'D'\*5K`^DT`/'E%D#K\-DT@ET-.(>GZ^V^Q,IJ!&`(FPL'"2 ME+)Y$OE)A+8$']^#B0;M)`I/-W5(?/S!R!W//*$(FMIYDWH1)SD#^=IY=$T-38?.X<0_6I;J7T;23IU\]`' M!/!@6>ETK'36MUEK]@2=U(JD#MQBW=QS*GC2U**>GW4RRSY-6J!17WA],AIY M4L&4W91CS'",+L-RO-9G-QPC:) ML,SR#M0BF`J#[139-C8:H?#]_F-S:BI3,EU<6'DFM,Z#6#D)0(6ODAO%?T]P M__EV0R.X\S"5BOH>V:H&,>VCA"BF6,@?@F1M9UP1A&`/QG M6+]\DG$<"'Y#%OY3Q'L]!F0).83H404MZO?.-IA%-D2?BN.0'+@P6`S30J%J MO-4R4!+[7YO8'Q%"WX/R@\&_#ZY(];5('A"*"!UG$_&AMI7TEY"BQPE$!'KOU@:?Y''C*`W M+@N[]O?)["9A\9( M^'$?FSH_;&5`$5YD!X/P)H:5P0BY-4^Q4M/3LH5%.*(W<#$>Q%X.;\*9)+1(?ON^+C=/CV=I2O&?N_M_E!*ISQ1 M`MZ-::@OO`?^R3A0]*HZV0HKR?GB8/W%?'`1OEA:W'+CKR`8!.[[A:$S6>1\".U>>?-LO%F3[H_Z(N8;&V0]IJ=^@*!N8K3VUR75TWFY13W; M-6X6/#4E9\4QC>T&6BM?)K!Z>X!17&GP-=K"39/>5YK/5<4:[1@4'CW--NF* MVTIV=PKO6#QL#X:!O.=<%^NYMUB#BPF9#=POQ>S=9785),.T?S24$:7[[#R( M!3J]I&>3);AS>>UB0OL-^ZE5R)FS-%_>IDRSN.5VJS:77Z)7<8L4(#*7==U;("=N?P4\QI0] MC.?S/`"=CJ2*<9]0YX;N6&@%GLA4M%@!MOY"V-+V\BP2O,B,U+7ECBW/`)WJ":3CUU"@X%'ION9+ MQEZL@\+[EIS(\AE%A`KH8S&5H;1@H#)8'2+:CYT\U7]8`Y=+<^?%T? M3K0,B$[(=,DB#%V,1\40JX!*@&="A#H\C&17Q)2'HE()#577GU%5'\\I2_J3 M[J4L1F9\#6S@WHE!,C!%`H71)XB[\X/)L$ZA5D3UIF354((CKL!L3.9118AU M58V*:63[I/4;$_TPCX#0,-F4#H$7<%=*,[[*!=W,2:-&,C+%L#2;+&>E[;`9 M5U,AB;P^410BK+[-=TF8,UJ+;SPFO%-;6:"F+GT29/29'8@A;6P.>:Q;OA(E M'LDJ5J-H+*B2%NM2TI),*CZ972W:W'E;:0+%4A(:L*86+`E-9CNK-D$R3J'- M-B&BJVY<770S#%RMZ3K#JA.615`N5:-1RZS<*//WS^Y"2D/$Q6*[B?0YP`'7 M[H'JMM(-RPN))[#X)F;0TY+%3^>=LT_L^/SLN'UYEM4G/C=KGLN[8SQ)VHBJ M5I;8)E3("9,T#S%)3U8.M&!@U;=0E(L\%^A&00--S91%"*1&5$3>H$C#K]%R3#V[DEXP&D#4)PI.))G-WR;K5V^ M))\IM`23RW1]'$I[:5IW=74\C-Y%*D4A>#>)L2A%+R*5B8&H>@6+'\W*%_7( M"T"*R5BG49NN\)=1&B/J<$J5M*?8*5_-08*'QQ_`Y25!G/GU%#.8J`%?#+OL MRF":=7B18C*28U3Z/Z4#.EW55K,U3YDA=OU;M$BFD,I$>Y;$N/)&VQ?%58P\ ML"*X*G"!@^OV&Z[#6XB:!0D6K*%U$7*H.=&C+]N81*0/]MW$1K?J1+VSEN7MG2VCH_/OYY=8U#=OKKN_-*Z;E^]"J<6N-3?EHHGQ8DA6-\! M>DJ40^V)'R*+MH@U]=*AVR-P\.,WCL<$Z42D]O,4PJ>GJ/``!842)M"E>EQP M(VB537"010[8O5#A";_G"F5I:X+F@*"G]3$G$"G,[!8K:W7(G]$J5R(\@5*D M=^V4.3VCO51^@0G5V//:$-KA,$HONU5!QQ1ZRR@Y10TCFBHCAP>*7F0M)E>'J M^OSX,SN_P##LA6M"_O0;"8X^4TF&5^I53)5VZ/6^KCD)5S%+75IPZ"/`H$%I M:B5_>A/;*GLBXP_M]$J=:3X/D)/4-.5"1X-,^`=+FL2X8-H2'DL]^)+<*W8; M2)_REU50`S4TN=H!!_\`G>RQ:CRR3H^*.IY#NHB372GER%-,A[GZA@':US1@ M>[I9G\6>DLW>?=E&`.\=^:7-KEO_?NGA[LGD#1)<^Y3TP!?M%J9A)86#A6CP MWBB0R8IE>UUXV0?>Z9#N<8$V@YV0$:8B=<3&Z6J+&QZ/N#ZZJR^!H`V.J?%J MFF\SU07C4>6L@UX%8Y'=NZ%8Z9T;]D"QN:8B71&@-<$M-KT!:$F8NWT#T,\E MN)/0W"P2WT\4.4C4V5`6+K]`*T#_I7OK>'D',M;DJ/2OM'^<;2Q1U$!;R%BS M82[Y,$PI8(^0#2A$-,7N9=N$=NOR#-;!5^RB?E?6TTT?@<` M"Q/:C\RER\V)Z=P5!'JUF)HHNTX\$0%5'TR?@[%6)O$K8TPL`?%\[)A>-N11 M)HI.H3(!NL_A![T&QJU7.L9J+Y-(:YQTEKF0X*>+%-(['[`O],*:7C*^8U3! MUWI]FVT5I$=QQTL';%K+T";=)Z/0R<[=AE)TO]8VNQ+Z&I_,%ND]"H2'W#,6 MQJ3OT^.=E0+="[$>&Q&=TFT[8Z5C4=7DO-4G3,TM&'&ZBDHG2)ML^-.ZPOKG%U=7W[]Y749CVZ4TJ4HB!29ZUL4 MQI;'E:SFTIQS3J.'DK/.NK(GF,QAX-)Z\N!Y>N@YM]+V\^L7/['U/"+2:1V] M%6!7,Z#E(6T-E!]`7ZA*8[RV`S<(6J&/_[4S.K3B8T.L7PFSDOLW;3G'U/LW MJ\VM#V\=O'YS*5AK0]!9!,'&\R&8?OMW-H+UAV/8HBC37">X)EX6QEP:X`J\ M60#@6J>V.(B5)[/*?1`/Y>)!$8_%(:X9V86(MC9DUTC`>E%8U@5[!7I,!TUE M?I1;QSJ\<^N55IWR#H$M'W1YD%-F>J?$82B"]ULQL'2+U<;)6/CLT,.\4MTY M*#)Q MTWD@>KEKQQ\F-P?[S?VB-QX;>17(BRG^?GUO*SF17!<^T[_3O)QRKIM?95_\FZ5":]_&L.7YG]^!1Q&G>AYV6](;K9M^*6.TLR\%<[`IQ M_!J]U=3HO!3,.M!:8?FW+%H3'TYI)7%?1I1O7HA04S[2TG#TG]*X8AS2`Y&: M)-.3(-71!\$>0J5ZH[F[MXN?LID#Y0'(+$R=NK.W_[8YDSISD3F3%VZT7"A\ M,06=ZC%*K_ MVZ;V9,'S?+/M7M$>SP&Y!@Q+OM4[&\-FXR$8GMN<>]O6HCX"U2:`K(3%0RDS M%PO]O8TO4M$6T+$^^P/MS]-ZI8\#J_8=D%=&O@C=Z+X3\X$ZDR&E M1V400->./-;!G?Y1R(4I,"Z3K.SM[ M&7>61.,19C&;I%-F<7"PN_/8DYCHIVN]GI81Y4BL?0:/QX3%)@`6`@-W?L+U M_YUPD:SGXSG+-2&S?.PY'HZL@$B)Y<>ZB0M3J?SQ_JOB?B=,X]I6=B/%([GJ M!<&O%_'EG7SC8$V(7YBOR"`F'5./2)]1LDOT]:R6BB4R7YM!B"4_+Y-7XZ90"ITO MR60ZG3>TTK9.]]YNA_A`P#J7NW::]=S^`LEG"AC3:J).X&RH(`@O*N&V,OG+ M[3SXCEX?'S9X&_WDI/E\&78Z//,33)@C>XU4!%AU(U@IA+)E" M/:3>1]-$N_4TLD2M'E0+-!!./^!0($)]2E*A4(#R?(1CU1ORDC3&P&3X>HSI MMG))?C$HX,8CC^GD=[\-A M.KY/7U!+`P04````"``!8&Y!BK9BZTX&``!K+P``%0`<`')E86PM,C`Q,3$R M,S%?8V%L+GAM;%54"0`#$`L``00E#@``!#D!``#-6EN3FD@4 M?M^J_0^]YF&S#PAH-KMC9C;%*"94&#&BV1B%>N!DU M.`^C-N><_LZU3W=S^W[I.FA!?&93[ZXFUZ4:(IY%Q[8WO:N-3$$QVYI60RS` MWA@[U"-W-8_6WO_SZR\(_FY_$P34M8DS;J$.M03-F]!WJ(==TD(?B$=\'%#_ M'?J"G1!&/G_5O`#&K,!>$!A=S]I"S;H\18)00J9)0]\BB<"!JFO*O:9KP\H'ACU0O@$7>8[T9X08=(X,PGD[N:3[`#\\JRW%C/^JH, M;[":0UPSVYT[8!/QQX'>8X?;U9P1$K`B9*G$EX'2QSZ88$8"V\+.4;A2.<\& MDB<;X=YAQL28\W(!7BDT7#[71<"9`;7^FU%G##5+_18"78=,;,L.CL%:*.0B MT-N8S;H.?3G*K`=,9X/VW6&0D6;HNMA?@6GLJ6>#+3`DJF71$#+5F_:I`]8A MA=A5@97!OEYX>S4DE*(4CG.!RI\ M9N1;""5$7?`Z4@@I@SX/$"Q#5NA$Z:[#[QT.L@R(-R;C6`X'=7IG`<-<#+2` M,A)0S+']%7ICM&9'._R71)[>/210&X`O*>CP_5[1E5Y;1>9'51V:<2\60W.H MM0/'X^OH-9$ MNX0,+4KR[FNW%2:*;R'J0\+"SDR2XFFP;^V$QV$;OJ$0&5\+N2#!AD"(^2<^ M=3-MO;$K/5J-;8?`_#7T0NSI+`#DE3IPK5YNG%V)"])LG^Z<:[/Q5E^0G]=I MA%7&1HE&IZ!0'2.AXBC+5FHGXHZWR1GC\;!%X)B>=(H]U@5MC`DT]-"_9,77 M(5TYHS>J-7JF?E>7ZME-Y)XKT@BK7,>IZU(O`I6[9!^059RT.4T[S8-]I>$S M(`&V/3)6L>_QG1K4EM#EYB3CO:.0/<>48:PXU)O4EU34%I%8M.;[)4 MO!73SAY^UKE$^NU!(TN M,OKJ0!EJ1J_*(Y8-?&^J+N?$8R2K74ZAJ["@K>^+';[C&+NV9[.`@UN0#;@, M'0JY*BYGF;[83NZ2JE]9IA]WM94DT)][";270>;0:'_Z:.@==6#^CM3/(VWX MB%YWU*[6UH8_L087ATCH,*B`3#7UVDZ93FJ;--47!".]\QVI4C5]^IV"@"1 M=]*D0]:?FG?,G>*>^WY46,5-WFE^/LV"5Q<0&<;HVA[TBB>4HU0!%>H)^"Q" MQM%97G2HEZ%."MUUEJ4<#VV':Z;>5Q>)VT@UQD*^5X'%_OL!6@F/9?!=9\'Y M`0_FVN7*FM!3WOU)&KJ_^&6^S2R'LM`G\./[-@XIO0XR1P\/RN`Q:D^U#ST- M>E&E-T1*NVV,>D.M]P'U#1WZ4]6\;'^:]N90HL3?^TIHO;;QH**A\O72N(Y: MFQ+`-_N`-_8T45]Y5.YU-;(]#`Y&:@?%;_I>W,B%;Q3%"LC2O@+J0U\W'E5U MO8E!IO(%8@/4T97>I3'U"]\#[A&N"F$_!]_%QI&_@=02P,$%`````@``6!N M0;()/%TT!@``MBL``!4`'`!R96%L+3(P,3$Q,C,Q7V1E9BYX;6Q55`D``Q'. MHU`1SJ-0=7@+``$$)0X```0Y`0``W9I;<]HX%,??=V:_@Y8^;/M@;$-OH64[ M#CBMIP93;+K-4T;8(GC6MJ@O"?GV>V2PPT78T.#`;AX(R.=(OW/^DI"$/GZ: M^QZZ(V'DTJ!=D^M2#9'`IHX;W+9K(U-0S(ZFU5`4X\#!'@U(NQ;0VJ>_?O\- MP=_'/P0!7;G$=)DU"F^05#E5=4RXU7;.N;V3I:WT^@<:Z.(9'#4EN MB%)3E-Y:#:DE-UNOI3V;B'&<1'D3TEQ:_BWTI\++@!RZ)-:ID7JX7G)U]<7(CI MT\QTRW(^#KVLC::8X>0UPU,GSAU6C=^(BX>KIFY!U2O0D=N*TDAT:N,X[2^E M1&BG!?LD9&8"*Q+DAM"4Z_/(J64ZI&9(+8_]%0RUL-B>?BL>NY\4/= MIK[(GHL@9^*3(%8"1PUB>,2T#?V4%V)(*YR&9-*NA01[T*XLRXU%JR_V\8T? M9C`$(M>?>9`3\==!+[''\FI."8FC,C*N<34H`QQ""J8D=FWL'<3%]3P:)!N7 MA*D3&1-CQF864*4T<<5>E<"9,;7_F5+/@>E-_9F`79=,7-N-#V$MK:02]`Z. MIE<>O3\HK5M.1T-[%`Q&I)GX/@X?(#7N;>!"+C`,5-NF"8S4X'9`/<@.*05_ M0I5'"TN#[U>?6'A>CLLQ/1K&,E(8M@]X[!'(!Y2$"7'TI>T>Z3RDCJ.!JU`# M?2`D'2,FO@.MH@',0V6P97Y''%+0@#%CW6P?KAWFQ\59FTOV(N)Z'`\J&4?D M9P)3B'K'YI%2I!WV14`XM#,FGO%J@SN6*=EJB:U/WJ0<4Z@BM),Q$1P7)L`H M71HL&UH-.J_%#6(13,6EC]GX&XK0EP2?^F(0'XJZ[ M5L^*/>\PPM2A>JZ`QLJA:)G/L_9),L&)%_]RI\S'^I MZ$J_HR+SBZI:YO.1\7 M9=OW+""/VFM1>.S\@(;<62,=[1, M&+Q8%M_DS)`ZHL';7!`;?%UM%ES$NC3=['CJ.$&?ER MLMSS&VDQ0[=L&L30U50O;0UF>7++WF18DY#ZQ9E<9HWN9E_-*R#4$`VA6[9K MLO1(X=&(..U:#!N*\Q!G,6@ZU)_1@`TI9>Z6]B^^SU&EXRXI"Z5:%X$G4U&H MVZHUI),*M`';7:Y1N<+LL#VJ(-O+Y4(U"G--2]'_KZ+=QV;J9]S>1,$\X)@_.U>_I^ MOD#L)B'["8J$+G72FPA]HVJ+#O>+LFTY_Z=T MVQ'ZMG#O3BI0XAMZ\+Y(>. M;PL/3#N*^05=Z<;?U1Z8/N6&0![).W;F[T;L!"L)"7QX/.U%2K^+S%&OIPRO MTZ-4[7-?N](Z2M]"2J=CC/J6UO^,!H:N=32UVEAYUPOR&-YOQJ#U.T9/19;R MHV*L@VX5Y+P7F[S+;)IHH%PKE[J:9AX*AR.UB[*+@U6GN/320<8O2YO\:F^@ M&]>JNCAM1Z;R'3H&1*,K_8I_,N#?1\A)Y4W2!:`Q8!W\F?CX:^<PO`Y63-7MA=22CY%U!+`P04````"``! M8&Y!\O=#VZ\1``#;X0``%0`<`')E86PM,C`Q,3$R,S%?;&%B+GAM;%54"0`# M$`L``00E#@``!#D!``#=76USVS82_GXS]Q]P[H>D,U8DV6EZ M<9)V9%EN.5$DUY+39CHW&8J$;$XI4B5(O]RO/P!\$5\`$I1M8G.9B>.0N^"S MP,/%`EP`[W^^W[CH%@?$\;T/!\-7@P.$/_ZP\'5HC=:C`WC`)'0]&S3 M]3W\X<#S#W[^Z9__0/3/^W_U>NC#X5%_<-P?O%D>#4Z&QR>O!XJ/",TP(MDC!O># MY$^L_MYUO+].V(^523"BM>>1DWOB?#BX"M>I MD<\A(\?#5/;$/TLKG-1CX+K[$ M:\3-/`D?MI18Q-EL70:*7[L)\%H,Q@V"/M/O>_B:-K;-'O26/6CXACWHN^3R MU%QA]P`QR:M+0VK7VT)9B5*_:[`7.'!\>^+MA[JLK0D^?7>"\!$&Y/4[-V'I MAZ:[%_B\9N>P9WB_&M_I=5_3U/'C_6HZIUF$[;*+4_I;`3B^#[%G8SN%SLJJ M<7#\4=SO)F5GI?M6H5R7.4L_$-8(+W)MDA4O-R*]:]/Z;$K MO<$P\8[?)9>_COW-QO<6H6_]]0EO5CA["+?PPT&-7+^,FFF,@A2Z&5@-]B<2 M?U>+@IU@.<<'W_5U)^OC!XA.\P5XX^3MRP@<*<$NC,B\D MHWN'2*QMT.F2-TKP\QRJ50##)Q6496YE.HMB=FX-'1 M)*DECDRX2^[4`\[31RP)AD&U\,HD2H51*HU>GN&U8SF/YQ&EI\O9,3Q*N'$Y M&4V_TA%WQ-S>R*,CEI#Z/3;\#C9\]#E:D9!-$)0L:Z'7!6-:F\'(HZRDG4=M MD98IE:HBJHMB9933?DKW1+#UZMJ_[=O8B3T3_:7LD.BEKS&*2WSM,.1>R.9Z M2E;+Q;J@5!-(QB"9C';"-``K\R.AQ$Z63[WIH\68I<16Y M;HDA@5ED1DD($#7$R"3<2(01ET947`<[4C^VI,4*S"K>[HH+(E`I!?+W0+2\ M`)"TLV`R.ELYFT-E'Q!J;"G)==WN0IAE`A2$0#%!A$Q*B5B8AA`V_ZJC@QTC M"L1F8,Y=\UI@5^E^5VP0PDI94+@)HO5%B,JMGLD@)J2CK<=1$#",#K%,]PLV M`[DSD(MVQ8`FL"D99'(@>-$`KC(;&XNC6!XQ!:W.(0Y6?L>N^]'S[[P%-HE/ MA](&(5%EID-!OMMPL@%V,:R4"(,@D0K",I,,D@Y,3<0T>W\Q593JHECY9WVD M^NR[D1>:P<.YX^*@/+%?(].L' MH>-=QXDK\N&71+SC,6PMZ-)05B@+B#VU`*4D>D%0II%D&Z&D)(ULXFP>TW[T MV@_D,R`EJ6ZY(X18I$Q!!!!31+@D,Q]<%*6R^@AQ$:U=>WN`E6;:(7^-,F64 M:J,_4WT@"76H5)<"02`BK\B5BL9@L%Y"HD,P/*#&B M(ML],21PJ_PH"0*CB1B=[*.$R75.8-!F;)*;D6>S?UAN\:WI\F3D<&P&P0,- M\OGJ-HGQBKJ=KC9H8TYA!8**(AC:M4%;H2%50G0$ARSV"]ZIPR!DX8U2>>LT M^JU&?]4I8<+.N7)< M&G5C0AT=GX.Z\5T;!R1>`M,0X:BK=\F8MD;E.:6J"Z:/:@FX3,ETP;XQ6:#1 M[`PMEO/QQU_GT[/)Y>(%FOQV92R_H)=GDW-C;"R!K&3)F:P6B-)7@DB;%=ME+G^-B5TVH.V-ZW0 MS:JK@R%F>\R528>D!+2-B^"QO!D7DJ?O,RW*FOJF1\YI,\[7:\>J9AS)A#I; M;B4%F*VMJDAH9TVLFR8"`!5"X#HG8VLR*F M:9L4^1QE208,;R3`)'NDD#BAY,X);_PHI&%,@&Z9UCMT-#@<#/A?1.)T$S.B M0H'S7VR_&QX='K_Y\?#-\3&/>(:#PQ___?KP>"?KL%1L&]%?MYCO'.<^:5;< MTVUP0".X:!.Y;)^B9`6]I%Y5%'5N?"`WI&X3A*H6&"(K0Q4$Y:D@2MP?#.X5 M-@FI63\!`=_Y!W M;3"H5(T.E,,(W7&96CP&*[R7XA.']Z0V%(/!H*8IX3UGDF%-XN\S>0^+>8IH MQ3S,*?,XK3A$2/8O>[*=@YY\A##S+\Q`<9B0E]4T5JC"E0P8=H)@@JTZ='5# MA]V(`1Q[XB3Y439H:;:\JJ&)23+H$CZ5Q2&R2H*QEEN5<2=0CO%UQ\K\2J6U MW&^Q1W#3^H4:^2X)U0@[3RFI,!A2-2$LTRJ31SA1`/)Y)SX^QF69 M%/;&\?A.D6SV/[%+8GZC5I?44C0A3[`&%3`T4\-9)ENB%:>V%/1@<*[R\JB^ M9)I=EI*K@C49)8,G27+P2*[YB=D85(?@SW3$[N/XYZU MZJJQX+,\#HQ/?GX;JREKA*`5+Q0Y<7P:LF(AO9W4SL3%G-+>9RW]*"^5[OZM MD$*N,KHB"HR-,GQE)ET$_JW#3@-$E$P`N33#X>[UDEA;84!,!P M1(2JS`PJ@]AM&#Q(,T@N<,`G?4Y-XE@T"CYSW"B43MPV:G7)%443\NQI4`'# M)S6<989Q*1Y=VK$<+(.R(#X=^QK6W+`$/?/8&7^9P6@\RXG&3*^1NC,7\K'UE121D0"5PP M;Q_V\@*^.>KF40O],&B2)OU(TU:(>Y<"@*A-)BI0558$=+(VX*[L&BNC4I#0B/&0[5^: MK+,$Y:_$IL7OS)Z,K"@#H*3$(`5.EC2ADU(,5X&5S6X2SE>0;H,8.M9<^037 M]4QB>*(/(F[#!Q&(,>.QAF!@XM4NZJQ!63T\P6X9+D()P73$ZDWU+L+75..P M(K!L+W*V[^JYZ]\UI;O6JVC:+5X*7K)+?$4>4$?6"+)V5WB^?2[7`I=831T^ M0\=3)&QLGSY<$6P;7I9!-V*[8L3+.NLIN$]!'6L'SW8IZ>`6\3SZK)*AM!*M>?6F%Z2=W&X'J" MJY0$;SNG#<@G="?KW-;8R@8+M'3Q:9:,V3L$BJ!\6.J M2!L_T?#U-:R;AL$^=?_\:`=]7(_[3021X`6<=A)1-E6G?%OW[-I+4MR2!]D M-I>.'VP8$;4L0S^?&\QK?9@DN"'0/JB5#Y>L'?+H;LN]VQ!F?FL[Z/*<1AH* MQD_\_VP[@'DF[8`+$B'4VJS#_(=HNW7YMW/333^W&QX=6FQ,T9GSY6_UJMJ= M9D6T,ZF0(*&F"J9':(>WDC:1TT:V0RS7)U'`1YA6.DE&8YVL.""S8NE6)A>F M(\NI+XIT^UFM"J[XL6QW'PR-!*"$<<.6WD;G,8R6&(,S_$9.DGTQ:FFV6*R;X' M*6MU=ERBN@G9^8G-*MJIU`YG96#.%%'HHTQUMYTJD`FEA7/M.6O',KTPR09@ M.?F^ZU@.M1G?AZ>N?$I>5;G3L*J5086H2DE3.R7W@BMB)AJB'EI'XU6QJS7]#%?&J,C3`\5``I9-\199\Q&\\_3=!R]`<4?JED4ZE3;^_2H)V>K4C8/8L" MP^7'X1?2_)C2//&F"W0Q^C(ZG4[0:';&+EY>3<[0U!B=&E-C^00N5A)=3C9; MUW_`.#XZP+SE.Y91I#+VJBIU%ELJ&Y"%EHT:VBG7"J:06:\ILR:?+J;S+Y,) M6BSGXX]H,?I,NVS*L^EH!L.?[MX6GCW`=N;DDS27F!]R.?9)2-*M\[!-WSL> M&S?YU4>7VJ5_?:(JR/O91Q:IG?Q/:X?P[?B!!;?\I9A?+(WY#-`[45T%RA"K M1Q4M]/4>E]E@5OWZ78DR&.ZV12QDZ9N4I;_.IV>3R\4+-/GMREA^`4)4ZP;; MD4M?SD6T(OCOB+Y]DUL5!ZVDV2DYU4TIT+)9#0XAE;$*J?@CGPTX75`"3F9+ M-/E,?]9&I,\Y).%KL,91$%#XPH%&7J#CK^>U`P@AKLJZ&RYUB!(YK94LKUUP MU=I0GYJJ,3 M0\ME8;U43[^T#TXS[0&ZY4N5%:7OI7JV;YNV;W76BO19$<_-9M]M]OO&&<.M MY&5&)*0OWB1._=;1-/R=9XYBGBR@KS1%10)6U3B_1'RL: MG-`K_P-02P,$%`````@``6!N06PUZBWR#```*:H``!4`'`!R96%L+3(P,3$Q M,C,Q7W!R92YX;6Q55`D``Q'.HU`1SJ-0=7@+``$$)0X```0Y`0``[5U?=]JX M$G^_Y]SOX)M]N'L?")!TNYML>__(QN( M,98MVU")W/:A2*ZR%[C"QBX_<7-KGXX[___(<"_][]JU)16B:VQK=*DQ@5W9Z0 MWY4.FN-;Y0.VL8,\XORN?$:6#T_^_*K;'CPS/'.)X6GXUEOE^K(^52H5CC8' MQ'<,O&NPK[5U]4YOZ\/'IWKMT^5J`B]K(@\^NJK5KZJUZVKM[?"J=EN_OGU3 MXWR%ASS?W;VBMJIM_H7L[RS3_NN6_C="+E;`>K9[NW+-]Q7Q)E6KVJU>O7K?7M@S/`<54R;6M'`%ULNVDH27_WFYJ8:?+HE/:!R`LZ!`W.'#QY?^%@9,%[Z_7Z5?C6GWAXO?4"^K5KSA<6V*1:7-`[ M9%&[#F88>VZ69(G$IQ&EAQPPP0Q[IH&L7'(E,OV;$&L.8I7WS@:Z))Z9A>GEDS6SD)*(WD#MK6>0YEUD/F(XF MV@M@X)$#?SY'SAI,8TYM$VR!P%$-@_C@J?:T1RRP#LX4O$231U-+ATESCH=H ME2UN`NG1Q-AH"FZ[1B,+@SW@B>/C<7M#RV'./&T<37`-6B!KC`,?&:`E8.7V M8!S*$C:+[X@N!2_H+F@WXY&+07Y<+#'@E<>ML=XO&V(2E4^M(#'M!F(`>M*1=ER1'^%X%@) MV94H_T;PK>@6,?:DM6C(19PL*_4UM?V4)J.21GN$ZA@*<:"+`US;1I%C[/6#P[!U0U%=!,%.Q9B9UJX+31PRSVO+C=U( MEB91^X(,WQV$!FCB($L'EUE]PNM4%`YH.6&H2X@#0V\10&P5&4*S&?X;DG": M_4HJLR=I*=+:/>R8!%08TV1!AMECM)SVOY;2_HEZBP!"!6G&5**6A:8,`&(T MG(9_(Y7A$_448?"&[U`=6Z8+Z_A'C)STSL\FYX3A%ZE@R-)>W!3\!5O6)YL\ MVP.,7&+CL>ZZ/G92IV(F#R[ZH%Z;7APREQY\H;U+CE^I524W1XB_'X'R]]. M0U,&'S5M."B4#(_VHPER1P$DOEN9(K0(.Q.V/'?[)-ZK-H^?=D)U)RW3!A5, MZ/3$-3ERYWRLI7VDN&ZJZP(8&5K$B41FT/.`L9=)253TF`-561`VH3D7%@>T M0K/I#-L>6)^AH1P@T)(%&';I#[J]N406W5)4O09RG#5$'$%!%RO=Q<> M#5(N"\@!VEZ_XO$8P0GXG)Z28&P0=X+APW$[U)(I5""11SQD!902P)2*C^#L M(R\PKP612"T.+7HZJ.W(F(7XV87F9XH&"WFM(\=@&)&:+Y9(8Q";V,D-0#)X M4@<*PAQZ;E[#!9^G/?@DAX'#LO$H.(AY$7M-.4))0! MC=\LS$P^Y;K;V;Q.W=E4?MYC_\^/ MGX[YFJMAR1SD&=C^I[,^*8?[_X(QN?0PZA6Z%'@(EE M`TG!"@JMN8':4@O="CT:2/NZRP'07@`=BLFS<-A2"CTF4Q28%)WE*'W*N')B M%RF\B44*@Z$ZU.ZU#D0)W9;2[6E]=:AW.R*KH<+K!W9"9H0%3&J!'K(!P)YJ MJP6V79Q5_I1"+S(BR``BZA^9&LLQ=(57/EET@V<\-^W@K#.]ZVDC-0.>3"ZA M`4&VZ4D.561"ZT`S7O<1//OG0H2IY+FG+L+1HTW<8&NO0>CU-C[H^3([W>$) M<7#DMAEM!68":&!F=M8ZC#INA\"GM@=Z@7S3X'8V[*9/!2=ZH]"JKEP]ZCL8 M7H[Q8:?`QBIW,+A-F)L/3&JA`6D!9)D*RX%*!WLO/9"!18Q&Z)'M7`@D*B>' MW;?;3CWL!`N4.^2:!DST3=/R/>;Z.9-+:-%D+FPX#2`'6E^P.9V!5.H2-)SB MCC\?8:<[.3B&EK%RR-^,T!/?.58410UT7O`&?;0DMILVA)X9+XQ6`<3W;"8U MW)N1A_>X;>Y6A)8^GQ#R++O)EW++OCEUEX'[)9:!BZ7@!L-NX]/';KNI]0?_ M5K0_'_3AH_)S4VOI#7THR=9=@0(Z+EZAE1,;"8>T`CA+C0U1EO\=]-:3)K3S MUDSLZQ(MMYLBY9E1=0!,,2V;.] MQS1^R=ZIWM*=(QP):D2V-V39EDY%(I'R'+%(5"1ZS$JB(O%41%C$YP@*2Y?M M@"48E^]3(GQ2)`Y"PQ/7`B^"^X?@]8XG?EN-HR:J4"'4:3:N.#%+KW4Z9[1H M;PP5:_H._7Z/0+J@1K*#GX-/V)$U%Z_0!'T.G^2U@AP9/8;(84\MB-P!L]!< M?"GH&':0`[O3[4">)GG.AT36UF.^47*)G1%QL20C9+%XY.E*]*4#14,2*OE1 MICG-EN'46;Z0)`]L0B/)F,PG`DSPSL7A%ZGM=BK>IM8*-]3!1Z75[GZ1Y.;$ MG2+\>Q$)+&*G+2I0SR%+$^"\6S^X>*S;NQH(E7XM:7CN+5W#(@U)GYQFEBMA[]$?B'R]+SM^#BY7+])+^=SOU( M!$/CS4G$\A%>:D-"BZR/%.)Q6$J..00$-S`>!RB'5?>3JPFA)=W'Z25%;";'>,#U_009H5G.-L3>@ITW+"MD MH#/"M@RFHO>BBF%SA&_G../RC)-W"O%[7=^G6[RR#4U_L;""<1%9VW$QY7O2 MXAM,O-QB[P8OW3%R6DF.:6![DT$/F:R]ZGT27I!.=%]53AL3EAIR8;"[>"(5 MAAB5V)O62[L+0VLYSC*^W`U"[U3UYW/DK+N3@3FUS8EI(-O;I/!I`1BQ3".Z MQ-O5"_RJ5)2FZ1H6<7T'PQ\OUXDI:J>I#![N[]7^8W#*4?_0T5MZ0^T,%;71 MZ#YTAGKG@]+KMO6&KA6K*&!\I4:'>-@=DMUU;R_%#UE)5@Y&D9-4&CA#Z`)W M%CL=Q3POLC0<.A5O\6]2N\TNO>:,E2__G"47-/-BQ6S MW".=Y?R<@L<$5])P/,M6@8W+%G(/G#">BWNA-I] MK]U]U+3P3@MEH'Z&&`])Z[O9R-SR&@340 M/5Z'^QBY1^N&"1`UE48/X`+P?_^;E5;N-( MXD#^R,7??&A16U(5#]WG^L!]'NX&X#1:9ZAHG^F9GQ^^P^$[Q@R/?0O&W+C% M,[V&A_,,_87?(+D\9?,)_6\$$Q@\^1]02P,$%`````@``6!N053.@9KE!0`` MSB$``!$`'`!R96%L+3(P,3$Q,C,Q+GAS9%54"0`#$`L``00E M#@``!#D!``#M65MSVD84?FYG^A^VO#1]$$*0N#6!9&00CB8R(DBD\5-FD1:\ MTY662"L;__N>U86+C#!09Z93X@>/./N=V[=G5T>[G??+@*%[$L64A]V:5F_4 M$`D][M-PWJU-'$5W>J990^_?_?(S@K_.KXJ"!I0POXWZW%/,<,;?HB$.2!M= MDY!$6/#H+?J,60*23U_,4(#,$_2>@#1STT:MNC9'BG*`38&9>I7 MIF6ZMU^UQL?Z<@;.^EC`4+.A-=5&2VU317FXV&IGZYL9P45\N`[26CX=^[ MX-KEY:6:CA;0)\CE-&*%Z98JAZ%P0%4`*H$A$O97>\TK;"A""%,<[@TM'=D0W-G1KI1`11O&4 M,BH>ZQX/4KC6E&#"2$!",>!1T"<- M%O6,PY!#W<)JRB52MEA0J&L0_-211=...",NQ(_DPV1L5IJ7XRJLBT3&JH>^ M$0H8DHLD"E(G-43];FTO0KJ%(%+'/IG1D*;1P3K2D((*UVJ)K@)K`J=S&2,WRE6_JP9R#G@V&XS@]"@;T1CB"U.R(H!+R# MW>WQ:JI;>ZE&K[;L_'ZNU*\8BNV9O9!-`3C,B[IBK)KRUR7*'5=WC1MC"'3; M`V2/C+'NFO;P;.M\DU!'<._O.\Y\Z+2,;PG@X*U#/2J>FC"^M"'+M)[/7LR M=,WA-1K9%JP9XVPGTH1/T("X>%E,T*:@FO@_R\2;PYY]8R!7_W*^7.:E"RW. M(YXR`@4.DB@AOI5C5ZO@(&0U^Y=E]O."=M!(O]6O+",M?A".)T8?%1_R9USE M1K!@_)&0]%7LX'O87>(1-*79;%2.5LZ`UBC/@'$SLNQ;P\A>SNYDI[2:2^DFS7796$UQ5J9XHQ9>R2W]Q_$;C64&]QNRZOI;>ZDM]13GBW# MR30FWQ+(R+B736/.;UE:S6[K";N3*PF8S)#Z7%K M6Q[E=6LQA7U5'HZFLKN(S+JUB&"F%&=L7R&U^C)@!42:WG/7FW?*=_^RLEFNODIMKH^QLY_EX^Z M.Y`XCP0*GQR;[[L,R:YQ+.ZEIO:HR%]*H:=(D:(UE9967\;^.M)C@EC3<%P0 MA=X)0>R_PJ@((PUAY\V,2IB(5[:4M:U#X]E[1;0OG+*.?#C!_][[IM/ID)(3 MHCG@+NN02MG4'&:*LE0N9:EH%_\RF-,">2Z*_#XL;5SD%=K7?7=*^C06\O*X MED:]__YIC<7Y4[G[9ABZ+<=].=U$^B_)8KVUDS!%B! M3RY3D$"B@`CHL\!I(I'7$4\6!9`"9%^*%L=A/(AX8,]FU(,NN,AGU\"SP68[ MDRB&IMDM1K?F1<27Y[R;*00\)`)'CR^0Q)`+$KM\0$-P1S%;'UV69^D0Y']N MCJH^MEVR%%<,9$5VAP"/3B:[ZFZ+PL91"774;(G"XS]02P$"'@,4````"``! M8&Y!J<"W`I`9```.M@``$0`8```````!````I($``````L``00E#@``!#D!``!02P$"'@,4````"``!8&Y! MBK9BZTX&``!K+P``%0`8```````!````I(';&0``&UL550%``,1SJ-0=7@+``$$)0X```0Y`0``4$L!`AX#%`````@``6!N M0;()/%TT!@``MBL``!4`&````````0```*2!>"```')E86PM,C`Q,3$R,S%? M9&5F+GAM;%54!0`#$`Q0````(``%@ M;D'R]T/;KQ$``-OA```5`!@```````$```"D@?LF``!R96%L+3(P,3$Q,C,Q M7VQA8BYX;6Q55`4``Q'.HU!U>`L``00E#@``!#D!``!02P$"'@,4````"``! M8&Y!;#7J+?(,```IJ@``%0`8```````!````I('Y.```&UL550%``,1SJ-0=7@+``$$)0X```0Y`0``4$L!`AX#%`````@` M`6!N053.@9KE!0``SB$``!$`&````````0```*2!.D8``')E86PM,C`Q,3$R M,S$N>'-D550%``,1SJ-0=7@+``$$)0X```0Y`0``4$L%!@`````&``8`&@(` '`&I,```````` ` end XML 1018 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and cash equivalents $ 4 $ 2
Total current assets 4 2
Total Assets 4 2
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)    
Accounts payable and accrued liabilities 9 9
Loans from officers 5   
Total current liabilities 14 9
Common stock, without par value; 20,000,000 shares authorized;12,367,633 and 10,784,300 shares issued respectively 9,838 9,817
Accumulated deficit (8,754) (8,730)
Less treasury stock at cost, 354,300 shares (1,094) (1,094)
Total stockholders' equity (deficit) (10) (7)
Total Liabilities and Stockholders' Equity (Deficit) $ 4 $ 2
XML 1019 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:    
Net loss $ (24) $ (32)
Changes in operating assets and liabilities:    
Accounts payable and accrued liabilities    3
Net cash used by operating activities (24) (29)
Cash flows from financing activities:    
Loans from officers 5   
Issuance of stock for cash 21 10
Net cash provided by financing activities 26 10
Net increase (decrease) in cash and cash equivalent 2 (19)
Cash and cash equivalents:    
Beginning of period 2 21
End of period 4 2
Supplemental disclosure of cash flow information:    
Cash paid during the period for: Interest      
Cash paid during the period for: Income taxes      
XML 1020 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } }
XML 1021 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

GOING CONCERN

 

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has no operating activities and is now a shell company. The Company has concluded that it should sell the company or identify a merger partner. There can be no assurances that the Company will be successful in completing such a transaction or be able to maintain sufficient liquidity over a period of time that will allow it to carry out these actions, in which case the Company might be forced to liquidate or seek protection under the Federal bankruptcy statutes, or both.

 

The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern.

 

Two of the Company's stockholder/officers have advanced cash to the Company on a short-term non-interest bearing basis to pay for ongoing general and administrative expenses.  As of December 31, 2011, $5,000 had been advanced and was reflected as Loans from officers.

 

BASIS OF PRESENTATION

 

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States.

 

ACCOUNTING ESTIMATES

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

 

CASH EQUIVALENTS

 

For the purposes of the statements of cash flows, the Company considers all highly liquid cash investments that mature in three months or less when purchased, to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.

 

STOCK OPTIONS

 

Compensation cost relating to stock-based payments, including grants of employee stock options, is recognized in financial statements based on the fair value of the equity instruments issued. The Company adopted the modified-prospective method. Under this method, the Company recognized the fair value of stock-based compensation awards as compensation expense in its statement of operations on a straight line basis, over the vesting period, for awards granted after January 1, 2006.

 

INCOME TAXES

 

Deferred income taxes are provided under the asset and liability method and reflect the net tax effects of temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. The Company establishes valuation allowances when the realization of specific deferred tax assets is subject to uncertainty. The Company records no tax benefits on its operating losses, as the losses will have to be carried forward and realization of any benefit is uncertain.

 

EARNINGS PER SHARE

 

Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Since the Company generated net losses in 2011 and 2010, outstanding stock options would have been anti-dilutive and were not considered in these calculations.

 

FAIR VALUE OF FINANCIAL INSTRUMENTS

 

The carrying values of cash equivalents, accounts payable and accrued liabilities, and loans from officers at December 31, 2011 and 2010 approximated fair value due to their short maturity or nature.

XML 1022 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
BALANCE SHEETS (Parenthetical) (USD $)
Dec. 31, 2011
Dec. 31, 2010
Statement of Financial Position [Abstract]    
Common stock par value $ 0 $ 0
Common stock shares authorized 20,000,000 20,000,000
Common stock shares issued 12,367,633 10,784,300
Treasury stock shares 354,300 354,300
XML 1023 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2011
Mar. 07, 2012
Document And Entity Information    
Entity Registrant Name RELIABILITY INCORPORATED  
Entity Central Index Key 0000034285  
Document Type 10-K  
Document Period End Date Dec. 31, 2011  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Public Float   $ 107,500
Entity Common Stock, Shares Outstanding   12,013,333
Document Fiscal Period Focus FY  
Document Fiscal Year Focus 2011  
XML 1024 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Operating expenses:    
General and administrative $ 24 $ 32
Total cost and expenses 24 32
Loss before income taxes (24) (32)
Provision for income taxes      
Net Loss $ (24) $ (32)
Basic and diluted loss per share:      
Weighted average shares:    
Basic 11,557 9,965
Diluted 11,557 9,965
XML 1025 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 6 - STOCKHOLDERS' EQUITY

During August 2010, the Company issued 800,000 shares of common stock for proceeds of $10,000.

 

During January 2011, the Company issued 1,083,333 shares of common stock for proceeds of $13,000. During April 2011, the Company issued 500,000 shares for proceeds of $8,000.

 

XML 1026 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCK OPTION PLAN
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 5 - STOCK OPTION PLAN

Under the Company’s Amended and Restated 1997 Stock Option Plan (the “Option Plan”), no further option grants are allowed after February 26, 2007, but options theretofore granted remain in effect until satisfied or terminated pursuant to the Option Plan. No options were granted under the Option Plan during the years ended December 31, 2011 and 2010.

 

At December 31, 2006, all options were fully vested; thus no further stock option expense has been recorded related to the Option Plan. The weighted-average remaining contractual term, as of December 31, 2011, was 4.80 years for outstanding and exercisable options. There were no options exercised and none that expired or were canceled during the years ended December 31, 2010 and 2011. As of December 31, 2010 and 2011, there were 370,000 options outstanding under the Company’s Stock Option Plan which are exercisable at a weighted average price of $.21 until July 18, 2016, when they expire.

XML 1027 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 7 - SUBSEQUENT EVENTS

On January 17, 2012 the Board voted to issue 1,500,000 shares to its officers, Jay Gottlieb and Gregg Schneider, at $0.016 per share for a total of $24,000.  The issuance provided cash of $19,000 and the repayment of $5,000 of Loans from officers. No other material subsequent events have occurred since December 31, 2011 that require recognition or disclosure in the financial statements.

XML 1028 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (USD $)
In Thousands, except Share data
Common Stock
Treasury Stock (At Cost)
Retained Earnings (Deficit)
Total
Beginning Balance, Amount at Dec. 31, 2009 $ 9,807 $ (1,094) $ (8,698) $ 15
Beginning Balance, Shares at Dec. 31, 2009 9,984 (354)    
Issuance of stock, Amount 10       10
Issuance of stock, Shares 800      
Net loss     (32) (32)
Ending Balance, Amount at Dec. 31, 2010 9,817 (1,094) (8,730) (7)
Ending Balance, Shares at Dec. 31, 2010 10,784 (354)    
Issuance of stock, Amount 21       21
Issuance of stock, Shares 1,583      
Net loss     (24) (24)
Ending Balance, Amount at Dec. 31, 2011 $ 9,838 $ (1,094) $ (8,754) $ (10)
Ending Balance, Shares at Dec. 31, 2011 12,367 (354)