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NOTE 10 - COMMITMENTS AND CONTINGENCIES (Details Narrative) (USD $)
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Dec. 31, 2012
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Aug. 30, 2012
Y
M
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|---|---|---|
| Term of employment agreement | 5 | |
| Officer compensation | $ 175,000 | |
| Yearly increase | 10.00% | |
| Car allowance | 500 | |
| Annual bonus | 2.5 | |
| Additional bonus | 75,000 | |
| Pre-tax income range | 150 | |
| Pre-tax income range | 200 | |
| Llife insurance premium | 10,000 | |
| Option to purchase stock | 4,500,000 | |
| Exercise price per share | $ 0.01 | |
| Death benefit | 2,000,000 | |
| Payment of base amount | 2.99 | |
| Restrictive convenants time | 12 | |
| Accrued expenses - Officer | 87,839 | |
| Monthly payments to consultant | 5,000 | |
| Term of contract | 24 months | |
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Additional bonus 1
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| Additional bonus | 100,000 | |
| Pre-tax income range | 201 | |
| Pre-tax income range | 250 | |
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Additional bonus 2
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| Annual bonus | 5 | |
| Additional bonus | $ 200,000 | |
| Pre-tax income | 251 |
| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. For classified balance sheets, used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer); for unclassified balance sheets, used to reflect the total liabilities (regardless of due date). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The face value (death benefits) of the life insurance policies underlying the life settlement contracts accounted for under the fair value method based on remaining life expectancy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the amount of life insurance premiums anticipated to be paid for each of the five succeeding fiscal years to keep the life settlement contracts accounted for under the investment method in force as of the date of the most recent statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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No authoritative reference available. No definition available.
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