Quarterly report pursuant to Section 13 or 15(d)

B. NEW ACCOUNTING PRONOUNCEMENTS

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B. NEW ACCOUNTING PRONOUNCEMENTS
 3 Months Ended
Mar. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
NOTE B - NEW ACCOUNTING PRONOUNCEMENTS

In July 2013, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force), which applies to the presentation of unrecognized tax benefits as a liability on the balance sheet when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose. This ASU was effective for reporting periods beginning after December 15, 2013. The Company applied this guidance in the current quarter and did not have a material impact on the Company's statement of operations, financial position or cash flows.