Quarterly report pursuant to sections 13 or 15(d)

Commitments and Contingencies

Commitments and Contingencies
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
Commitments and Contingencies



During the three months ended March 31, 2011, the Company entered into an agreement with a consultant whereby the consultant accrued monthly fees, commencing February 15, 2011, of $10,000 to be paid should the Company raise $1,000,000 in equity capital from investors prior to January 15, 2012. The Company terminated the agreement with the consultant in the quarter ended June 30, 2011. Should the Company raise $1,000,000 in equity capital prior to January 15, 2012, the Company would be obligated to pay the consultant $25,000 under the terms of the agreement as of the date of termination. Due to the uncertainties regarding the achievement of such an equity raise, the Company has not accrued for these amounts. When it is deemed probable that this amount will be raised, the Company will recognize the $25,000 at that time.