Annual report pursuant to section 13 and 15(d)

Supplemental Cash Flow Informaiton

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Supplemental Cash Flow Informaiton
 12 Months Ended
Dec. 31, 2011
Supplemental Cash Flow Informaiton  
Supplemental 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