Quarterly report pursuant to sections 13 or 15(d)

Note 9: Warrants

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Note 9: Warrants
3 Months Ended
Mar. 31, 2012
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
Note 9:  Warrants

During the three months ended March 31, 2012, no new warrants were issued.

The following schedule summarizes the changes in the Company’s warrants for the three months ended March 31, 2012:

   
Number
of
Warrants
   
Exercise
Price
per Share
   
Weighted Average
Exercise Price
per Share
 
Exercisable December 31, 2011
    471,108     $ 0.40     $ 0.40  
Warrants Granted
    -       -       -  
Warrants Exercised
    -       -       -  
Warrants Expired
    -       -       -  
Balance at March 31, 2012
    471,108     $ 0.40     $ 0.40  
                         
Exercisable March 31, 2012
    471,108     $ 0.40     $ 0.40  

The following schedule summarizes the outstanding warrants at March 31, 2012:

Number of Warrants
Outstanding at 
March 31, 2012
   
Number of Warrants
Exercisable at 
March 31, 2012
   
Expiration Date
   
Exercise Price
 
  471,108       471,108       2013     $ 0.40