INCOME TAXES

12 Months Ended

Sep. 30, 2011

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 6 INCOME TAXES

The provision for income taxes consists of the following:

		2011			2010
Current tax	$	—		$	—
Deferred tax benefit		(1,528	)		(1,060	)
Benefits of operating loss carryforwards		1,528			1,060
Provision for Income Tax	$	—		$	—

Below is a summary of deferred tax asset calculations on net operating loss carry forward amounts as of September 30, 2011.  Currently there is no reasonable assurance that the Company will be able to take advantage of a deferred tax asset. Thus, an offsetting allowance has been established for the deferred asset.

Description	NOL Balance		Tax			Rate
Net Operating Loss	$	73,837	$	11,076			15	%
Valuation Allowance				(11,076	)
Deferred Tax Asset – 9/30/2011			$	—

During the years ended September 30, 2011 and 2010, the valuation allowance increased $1,528 and $1,060, respectively.

The Company has the following operating loss carry forwards available at September 30, 2011:

Operating Losses
Expires	Amount
2020	992
2021	3,182
2022	2,733
2023	2,382
2024	2,170
2025	4,154
2026	11,386
2027	14,396
2028	8,433
2029	6,760
2030	7,066
2031	10,183

Reconciliation between income taxes at the statutory tax rate (15%) and the actual income tax provision for continuing operations follows:

		2011			2010
Expected Tax Provision	$	(1,528	)	$	(1,060	)
Effect of:
Increase in Valuation Allowance		1,528			1,060
Actual Tax Provision	$	—		$	—

Uncertain Tax Positions

The Company adopted the provisions of FIN 48 on October 1, 2007.  As a result of this adoption, the Company has evaluated its uncertain tax positions as required by FIN 48 and determined that any required adjustments would not have a material impact on the Company’s balance sheet, income statement, or statement of cash flows.

A reconciliation of our unrecognized tax benefits for the financial years ending September 30, 2011 is presented in the table below:

		2011	2010
Beginning balance	$	-	-
Additions based on tax positions related to the current year		-	-
Reductions for tax positions of prior years		-	-
Reductions due to expiration of statute of limitations		-	-
Settlements with taxing authorities		-	-
Ending balance	$	-	-

All years prior to 2008 are closed by expiration of the statute of limitations.  The tax year ended September 30, 2008, will close by expiration of the statute of limitations in December 2011.  The years ended September 30, 2008, 2009, 2010 and 2011 are open for examination.