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NOTE 4- DEFERRED REVENUE (Details Narrative) (USD $)
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11 Months Ended | 12 Months Ended | 120 Months Ended | |
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Dec. 31, 2011
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Dec. 31, 2012
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Dec. 31, 2010
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Dec. 31, 2000
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| Notes to Financial Statements | ||||
| Deferred Revenue | $ 226,950 | $ 226,950 | $ 276,950 | $ 631,950 |
| Deferred Revenue Recognized | $ 50,000 | $ 0 | $ 355,000 |
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- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of previously reported deferred or unearned revenue that was recognized as revenue during the period. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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