Annual report pursuant to section 13 and 15(d)

INCOME TAXES (Tables)

v2.4.0.6
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2012
INCOME TAXES [Abstract]  
Schedule of the components of net deferred tax assets, including a valuation allowance
    December 31,  
    2012     2011  
Deferred tax assets:                
Net operating loss carryforwards   $ 266,000     $ 85,000  
Non-deductible start-up costs   $ 530,000     $ 318,000  
      796,000       403,000  
Total deferred tax assets     366,000       185,000  
Less: Valuation Allowance     (366,000 )     (185,000 )
Net Deferred Tax Assets   $ -     $ -  
Schedule of the reconciliation between the statutory rate and the effective tax rate
    2012     2011  
Federal statutory tax rate     (35 )%     (35 )%
State and city tax rate     (11 )%     (11 )%
Change in valuation allowance     46 %     46 %
Effective tax rate     0.0 %     0.0 %