v2.4.0.6

Balance Sheets (USD $)	Mar. 31, 2012	Mar. 31, 2011
Current assets
Cash	$ 579	$ 994
Total current assets	579	994
Property & equipment, net of accumulated depreciation of $11,298 and $9,839, respectively	375	1,834
Loans to shareholders
Investment in property
Intangibles	10,000	10,000
Total Assets	10,954	12,828
Current liabilities
Accounts payable and accrued expenses	3,855	7,240
Shareholder loans	82,808	70,961
Notes payable, current
Demand notes payable
Total current liabilities	86,663	78,201
Notes payable
Total liabilities	86,663	78,201
Stockholders' Equity
Redeemable Convertible Preferred Stock: $5 par 5,000,000 shares authorized (Series A & B) 0 and 0 Series B shares issued and outstanding, respectively
Common Stock, $.05 par value, 50,000,000 shares 24,982,205 and 22,882,205 shares issued and outstanding, respectively	$ 1,249,110	$ 1,249,110
Additional paid-in capital	(908)	(908)
Subscription receivable		(20,000)
Accumulated Deficit	(1,323,912)	(1,293,575)
Total stockholders' equity	(75,710)	(65,373)
Total Liabilities and Stockholders' Equity	$ 10,954	$ 12,828

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

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The amount of acquisition cost of a business combination allocated to other current liabilities of the acquired entity. Does not include amounts allocated to the current portion of long-term debt, accounts payable and accrued expenses.

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A3

-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

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AMERICAN FIRST FINANCIAL INC 10-K