Quarterly report pursuant to sections 13 or 15(d)

NOTE 6 - DUE TO RELATED PARTIES

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NOTE 6 - DUE TO RELATED PARTIES
9 Months Ended
Sep. 30, 2011
Compensation Related Costs, General [Text Block]
NOTE 6 - DUE TO RELATED PARTIES

On September 15, 2003, the Company entered into an employment agreement with Mr. Meller to serve as the Company's President and Chief Financial Officer for a term of five years. Mr. Meller agreed to defer payment of a portion of the monies due and owing him representing fixed compensation, which has been accrued on the Company’s balance sheet, and the one-time payment in connection with a previous transaction, until such time as the Board of Directors determines that the Company has sufficient capital and liquidity to make such payments.

On June 29, 2011, Mr. Meller forgave outstanding liabilities representing unpaid salary, unpaid expense and auto allowances, and the one-time payment in connection with a previous transaction in the amount of $1,338,967. Such amount is recorded as a contribution of capital in Additional Paid-In Capital in the accompanying balance sheet.

Total amounts owed to Mr. Meller as of September 30, 2011 and December 31, 2010, representing unpaid salary, unpaid expense and auto allowances, and the one-time payment in connection with a previous transaction, totaled $3,705 and $1,293,941.

As of September 30, 2011, the amount of $3,705 owed to Mr. Meller represents accrued interest on the convertible and non-convertible promissory notes.