v2.4.0.8

Consolidated Balance Sheets (USD $)	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 2,204	$ 7,384
Total current assets	2,204	7,384
Certificates of deposit - Restricted	86,318	86,318
Total Assets	88,522	93,702
Current liabilities:
Accounts payable and accrued liabilities	225,064	235,073
Amounts due to related parties	1,224,078	1,134,922
Total current liabilities	1,449,142	1,369,995
Shareholders' equity (deficit)
Common stock, par value $.12 per share: Authorized - 250,000,000 shares Outstanding - 75,660,740 and 75,133,824 shares, respectively	9,079,289	9,016,059
Discount on common stock	(2,228,553)	(2,184,293)
Capital in excess of par value	32,139,311	32,139,311
Common stocks, including additional paid in capital, net of discount	38,990,047	38,971,077
Deficit accumulated during the development stage	(40,350,667)	(40,247,370)
Total shareholders' equity (deficit)	(1,360,620)	(1,276,293)
Total liabilities and shareholders' equity (deficit)	$ 88,522	$ 93,702

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.

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Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.

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A savings certificate entitling the Entity (that is, bearer) to receive interest at an established maturity date, based upon a fixed interest rate. A certificate of deposit may be issued in any denomination. Certificates of deposit are generally issued by commercial banks and, therefore, insured by the FDIC (up to the prescribed limit). Certificates of deposit generally restrict holders from withdrawing funds on demand without the incurrence of penalties. Generally, only certificates of deposit with original maturities of three months or less qualify as cash equivalents. Original maturity means original maturity to the entity holding the investment. As a related example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.

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Discount on common shares, or any unamortized balance thereof, shown separately as a deduction from the applicable account(s) as circumstances require.

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Amount after discount on shares of par value plus amounts in excess of par value or issuance value for common stock held by shareholders. Includes common stock repurchased and held as treasury stock.

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Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

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Cumulative net losses reported during the development stage.

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Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

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