NOTE 14- RESTATEMENT

12 Months Ended

Dec. 31, 2011

Restatement to Prior Year Income [Table Text Block]

NOTE 14– RESTATEMENT

The balance sheet as of December 31, 2010 was restated to remove the goodwill originally recognized in the acquisition. The consideration given by Immobiliare for the member interest in Thomas has been reclassified as a distribution to the former owners.

The following table details the accounts affected:

	As originally reported	As restated	$ Change	% Change

Intangibles	814,804	2,304	(812,500)	-99.7%
Total Assets	1,829,890	1,017,390	(812,500)	-44.4%

Additional Paid in Capital	97,165	(715,335)	(812,500)	-836.2%
Total Stockholder Equity	128,880	(683,620)	(812,500)	-630.4%
Total Liabilities and Stockholder Equity	1,829,890	1,017,390	(812,500)	-44.4%

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

+ References+ Details

Immobiliare Global Investments, Inc. 10-K