v2.4.0.6

Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2011	Dec. 31, 2011 Unaudited
Property & equipment, net of accumulated depreciation	$ 9,839	$ 11,090
Redeemable Convertible Preferred Stock: par	$ 0.05	$ 0.05
Redeemable Convertible Preferred Stock: shares authorized	5,000,000	5,000,000
Redeemable Convertible Preferred Stock: shares issued and outstanding	0	0
Common Stock, par value	$ 0.05	$ 0.05
Common Stock, shares authorized	50,000,000	50,000,000
Common Stock, shares issued and outstanding	22,882,205	24,982,205

Issuance value per share of additional series of no-par value common stock; generally not indicative of the fair market value per share.

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The maximum number of an additional series of common shares permitted to be issued by an entity's charter and bylaws.

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Total number of additional series of shares of classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury.

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Face amount or stated value per share of nonredeemable convertible preferred stock; generally not indicative of the fair market value per share.

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For the disposal group, including a component of the entity (discontinued operation), carrying value (net of accumulated depreciation and any write-downs) of tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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The maximum number of redeemable convertible preferred shares permitted to be issued by an entity's charter and bylaws.

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The number of redeemable convertible preferred shares that have been issued and are held by the entity's shareholders. Shares outstanding equals shares issued minus shares held in treasury.

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AMERICAN FIRST FINANCIAL INC 10-Q