Gain on Extinguishment of Debt

12 Months Ended

Dec. 31, 2012

Gain on Extinguishment of Debt

11. Gain on Extinguishment of Debt

During 2003, the Company abandoned the business operations related to Aggression Sports. During 2011, the statute of limitations expired related to the remaining liabilities of this division. Accordingly, the Company eliminated these liabilities which resulted in a gain on extinguishment of debt of $111,690 for the year ended December 31, 2011.