INCOME TAXES

9 Months Ended

Sep. 30, 2011

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 10.  INCOME TAXES

While we are subject to U.S. federal income tax as well as income tax of certain state jurisdictions, during the three and nine months ended September 30, 2011, our current provisions were zero because the net effect of our permanent and temporary differences resulted in us recognizing losses for tax purposes.  At September 30, 2011, we have remaining net operating loss carryforwards of approximately $3.4 million to reduce any future taxable income earned in various years through the tax year 2030.  Our effective tax rate of 30.9% for the nine months ended September 30, 2011 was less than the statutory tax rates primarily because we recognized certain gains from fair value adjustments for financial statement purposes that are not expected to reverse (i.e. they are considered permanent differences).