XML 18 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended 19 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
OPERATING ACTIVITIES:      
Net loss $ (1,193,838) $ (715,871) $ (1,879,448)
Adjustments to reconcile net loss to net cash in operating activities:      
Stock issued for services 210,000   210,000
Impairment of investment in joint venture   260,000 260,000
Imputed interest expense 84,126 25,808 109,934
Amortization of discount on convertible note payable 72,776   72,776
Changes in operating assets and liabilities:      
Accounts payable and accrued liabilities 14,665 (13,456) (13,138)
Accrued interest payable 41,496 28,535 70,031
NET CASH USED IN OPERATING ACTIVITIES (770,775) (414,984) (1,169,845)
INVESTING ACTIVITIES:      
Investment in joint venture   (260,000) (260,000)
NET CASH USED IN FINANCING ACTIVITIES   (260,000) (260,000)
FINANCING ACTIVITIES:      
Proceeds from advances 769,141 677,559 1,430,824
NET CASH PROVIDED BY FINANCING ACTIVITIES 769,141 677,559 1,430,824
INCREASE (DECREASE) IN CASH (1,634) 2,575 979
CASH, at the beginning of the period 2,613 38  
CASH, at the end of the period 979 2,613 979
Cash paid during the period for:      
Interest         
Taxes         
Noncash investing and financing transactions:      
Issuance of stock for consulting services 210,000   210,000
Refinancing of demand notes to convertible notes payable 1,179,356 420,717 1,600,073
Issuance of stock for conversion of convertible notes payable $ 210,000 $ 230,000 $ 440,000