Note 1 - Nature of Business and Basis of Presentation: Foreign Currency Translation (Policies)	9 Months Ended
Sep. 30, 2012
Policies
Foreign Currency Translation	Foreign Currency Translation The Company considers the EURO (“€”) to be its functional currency. Assets and liabilities were translated into US dollars (“US$”) as of September 30, 2012 and December 31, 2011 at the period end exchange rate of €1.00 to US$ 1.2855 and €1.00 to US$ 1.2950, respectively. Statement of Operations amounts for the nine months ended September 30, 2012 and 2011 were translated using the average rates during the periods of €1.00 to US$ 1.2850 and €1.00 to US$ 1.4071, respectively. Gains and losses resulting from translating foreign currency financial statements are accumulated in other comprehensive loss, a separate component of stockholders' equity.

Note 1 - Nature of Business and Basis of Presentation: Foreign Currency Translation (Policies)

9 Months Ended

Sep. 30, 2012

Foreign Currency Translation

The Company considers the EURO (“€”) to be its functional currency. Assets and liabilities were translated into US dollars (“US$”) as of September 30, 2012 and December 31, 2011 at the period end exchange rate of €1.00 to US$ 1.2855 and €1.00 to US$ 1.2950, respectively. Statement of Operations amounts for the nine months ended September 30, 2012 and 2011 were translated using the average rates during the periods of €1.00 to US$ 1.2850 and €1.00 to US$ 1.4071, respectively. Gains and losses resulting from translating foreign currency financial statements are accumulated in other comprehensive loss, a separate component of stockholders' equity.

- Definition

Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.

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Genmed Holding Corp 10-Q