NOTE 8 - STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2012

Stockholders' Equity Note Disclosure [Text Block]

NOTE 8 – STOCKHOLDERS' EQUITY

Preferred Stock

The Company's board of directors may designate preferred stock with preferences, participations, rights, qualifications, limitations, restrictions, etc., as required.  No preferred shares are presently designated.

Reserved Shares

As of March 31, 2012, the Company has reserved the following shares of common stock:

Warrants – sales of stock	7,266,948
Warrants – financing and other	2,116,666
Conversion – financing	1,600,000
Warrants – Proposed, but unissued, for directors,  management and consultants	2,500,000
	13,483,614