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Licensees
3 Months Ended
Mar. 31, 2012
Licenses [Abstract]  
Licenses Disclosure [Text Block]

Note 5. Licensees

 

The Company has five license agreements which were obtained between 2003 and 2010; Stone Park Entertainment Group, Inc. known as “Scores Chicago”, Club 2000 Eastern Avenue Inc. known as “Scores Baltimore”, Silver Bourbon, Inc., I.M Operating LLC known as “IMO” and Tampa Food and Entertainment Inc.

 

“IMO’s” members are our majority shareholder, Robert M. Gans, and Secretary and Board of Director, Howard Rosenbluth hence making “IMO” a related party. The building occupied by IMO is owned by Westside Realty of New York Inc., of which the majority owner is Robert M. Gans. The club accounted for 33% and 32% of our royalty revenues during the first three months of 2012 and 2011, respectively. For the 2012 three month period, the Company recorded $53,024 of deferred revenue related to “IMO” royalties and collected at March 31, 2012.