STOCK AWARD PAYABLE

3 Months Ended

Mar. 31, 2013

STOCK AWARD PAYABLE [Abstract]

STOCK AWARD PAYABLE

NOTE 4 - STOCK AWARD PAYABLE

In 2007, the Company agreed to grant 100,000 shares in total to an Executive Vice President, John Gaensbauer, as part of his employment agreement.  Shortly after the time of the grant in 2007, Mr. Gaensbauer resigned his position without the shares being issued.  As such, the Company recorded the stock grant as a liability and revalues it based on the quoted price of the Company's stock at the end of each period.  The Company continues to explore its options to resolve this outstanding issue. The value of the outstanding stock awards at March 31, 2013 and December 31, 2012 were $140,000 and $154,000, respectively, thus resulting in a $14,000 gain on the revaluation of the remaining stock award for the three months ended March 31, 2013.