Commitment and Contingencies

9 Months Ended

Sep. 30, 2011

Commitment and Contingencies

COMMITMENTS AND CONTINGENCIES

NOTE 6:                      COMMITMENTS AND CONTINGENCIES

General

From time-to-time, some of the Company’s portfolio companies may receive correspondence or other notices of alleged breach of license agreement or other contract. Some of these notifications provide a period of time in which to cure an alleged breach or default. The failure of the Company’s portfolio companies to cure an alleged breach or default may have a material adverse impact on the Company’s results of operations and financial position.

Leases

The Company currently maintains its corporate office at 3651 Lindell Road, Suite D #146, Las Vegas, Nevada 89103 on a month-to-month basis.  In addition, we have maintained an operations office on a month-to-month basis in Santa Monica, California.  In March 2010, the Company leased a second operations office at a rate of $2,300 per month to accommodate our expanding operations. The lease commenced April 1, 2010 for a period of two years.  Rent expense amounted to $6,580 and $6,857 during the three months ended September 30, 2011 and 2010, respectively.