Annual report pursuant to Section 13 and 15(d)

NOTE O - RELATED PARTY TRANSACTIONS

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NOTE O - RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2011
Related Party Transactions Disclosure [Text Block]
NOTE O – RELATED PARTY TRANSACTIONS

From time to time the Company may receive advances from certain of its officers in the form of salary deferment and cash advances, to meet short term working capital needs.  These advances may not have formal repayment terms or arrangements.  As of December 31, 2010, the Company owed loan balances in the amount of $12,563 to Mr. Tienor and $12,551 to Mr. Sobieski.  As of December 31, 2011, amounts owed have been paid in full.  As of December 31, 2010, the Company owed deferred salary payments to certain executive officers in the amount of $26,711 to Jason L. Tienor, President, and $30,366 to Jeffrey J. Sobieski, Chief Operating Officer.  As of December 31, 2011, the Company did not owe any deferred salary balances.

Additionally, Mr. Davis, current board member, received 177,083 shares of common stock during the year ended December 31, 2011 in payment for $25,000 of consulting fees incurred, and accrued for by the Company, prior to Mr. Davis’ election to the board of directors.