Income Taxes

6 Months Ended

Jun. 30, 2011

Income Taxes

Note 2- Income Taxes

For the three and six month periods ended June 30, 2011 and 2010, respectively, the provision for income taxes consisted of the following:

	Three Months Ended June 30,
	2011				2010
	Current		Deferred		Current			Deferred
Tax expense before application of operating loss carryforwards	$	565,000	$	-	$	459,000		$	-
Tax expense (benefit) of operating loss carryforwards		-		-		(392,000	)		392,000
Income tax expense	$	565,000	$	-	$	67,000		$	392,000

	Six Months Ended June 30,
	2011				2010
	Current		Deferred		Current			Deferred
Tax expense before application of operating loss carryforwards	$	984,000	$	-	$	734,000		$	-
Tax expense (benefit) of operating loss carryforwards		-		-		(627,000	)		627,000
Income tax expense	$	984,000	$	-	$	107,000		$	627,000