Basis Of Presentation And Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2016

Basis Of Presentation And Significant Accounting Policies Policies

Compensation of Officers and Employees

As of June 30, 2016, the Company had no employees.  Mr. Albert E. Whitehead, the Company's Chairman and Chief Executive Officer until January 20, 2015, devoted a considerable amount of time to the affairs of the Company and received no compensation.  On January 21, 2015, J.C. Whorton was appointed as the Company's Chief Executive Officer and Michael R. Morrisett was appointed as the Company's President.  Neither Mr. Whorton nor Mr. Morrisett have  received  compensation from the Company in the first six months of 2016 or 2015.  The fair value of these services is estimated by management and is recognized as a capital contribution.  For the six  months ended June 30, 2016 and 2015 the Company recorded $25,000 as a contribution by its executive officers.

Fair Value Measurements

The Financial Accounting Standards Board ("FASB") fair value measurement standards define fair value, establish a consistent framework for measuring fair value and establish a fair value hierarchy based on the observability of inputs used to measure fair value.  The Company's primary marketable asset is cash, and it owns no marketable securities.