Annual report pursuant to section 13 and 15(d)

DISCONTINUED OPERATIONS (Tables)

v2.4.0.6
DISCONTINUED OPERATIONS (Tables)
12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
Carrying amounts of assets and liabilities
   

December 31,

2012

   

December 31,

2011

 
Assets:            
Prepaid expenses – current portion   $ -     $ 20,000  
                 
                 
Deposits in real estate under contract     82,145       -  
                 
                 
Deposit     -       3,500  
Real estate held for sale     1,035,570       -  
                 
                 
Assets of discontinued operations   $ 1,117,715     $ 23,500  
                 
Liabilities:                
Accounts payables and accrued expenses   $ 30,664     $ -  
Liabilities of discontinued operations   $ 30,664     $ -  
Discontinued operations and real estate business
    For the Year Ended December 31, 2012    

Period from inception

(April 30, 2011) to

December 31, 2011

 
Revenues – real estate   $ 724,090     $ -  
Cost of sales- real estate     (576,126)       -  
Gross profit     147,964       -  
Operating and other non-operating expenses     (1,558,635 )     (99,474 )
                 
Loss from discontinued operations   $ (1,410,671 )   $ (99,474