BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2018

Basis Of Presentation And Significant Accounting Policies Policies

Compensation of Officers and Employees

As of  March 31, 2018, the Company had no employees.  No Board members received  compensation from the Company in the first three months of 2018 or 2017.    For the three  months ended March 31, 2017, the Company paid Mr. Morrisett $12,500 for services rendered.  For the three months ended March 31, 2018, the Company paid Mr. Morrisett $35,000 and Mr. Pritchard $35,000 for services rendered.

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 carrying value of the convertible debt and investment in Masterson West II approximate fair value as of March 31, 2108. Management's estimates are based on the assessment of qualitative factors that are considered Level 3 measurements in the fair value hierarchy as required by FASB ASC 820.