Annual report pursuant to section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash   $ 1,000
Prepaid expenses 22,000 4,000
Total current assets 22,000 5,000
OTHER ASSETS:    
Cash held in Trust Account 28,750,000  
TOTAL ASSETS 28,772,000 5,000
CURRENT LIABILITIES:    
Accounts payable 54,000  
Accrued liablilities 200,000  
Accrued franchise taxes 85,000  
Accrued interest - related party   9,000
Related party advances 346,000 26,000
Note payable - related party 120,000 49,000
Total current liabilities 805,000 84,000
TOTAL LIABILITIES 805,000 84,000
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' EQUITY (DEFICIT):    
Preferred stock, $.0001 par value; 10,000,000 shares authorized; 0 issued and outstanding      
Common stock, $.0001 par value; 75,000,000 shares authorized; 12,500,000 and 8,698,455 shares issued and outstanding at December 31, 2011 and 2010, respectively 1,000 1,000
Additional paid-in capital 28,369,000 30,000
Deficit accumulated during the development stage (403,000) (110,000)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 27,967,000 (79,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 28,772,000 $ 5,000