Annual report pursuant to section 13 and 15(d)

Note 10 - Supplimental Cash Flow Informaiton

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Note 10 - Supplimental Cash Flow Informaiton
 12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
Note 10 - Supplimental Cash Flow Informaiton

NOTE 10 – SUPPLEMENTAL CASH FLOW INFORMATION

 

Supplemental disclosures of cash flow information for the periods ended December 31, 2011 and 2010 is summarized as follows:

 

  2011 2010
Cash paid during the periods for interest and    
  income taxes:    
      Income taxes    $            - $            -
      Interest    $    7,106 $     3,743
Non-Cash Investing Activities:    
Balance of consulting services for contributed capital    $ 109,187 $ 190,500
  Acquisition of consulting services for    
    contributed capital        60,000    446,000
  Consulting services prepaid for future months       (22,500)   (109,187)
  Non-cash expense of consulting services for    
    contributed capital    $ 146,687 $ 527,313
Forgiveness of vendor invoices for stock held    
As investment $ - $ 16,611