Quarterly report pursuant to Section 13 or 15(d)

INVENTORY

INVENTORY

9 Months Ended

Sep. 30, 2012

NOTE 6 – INVENTORY


	September 30, 2012		December 31, 2011
Goods held for resale	$	34,644	$	—
Revaluation adjustment		—		—
	$	34,644	$	—

The Company values its inventory using the FIFO method. There has been no write downs of inventory. For the nine months ended September 30, 2012 and 2011, the cost of inventories recognized as an expense and included in cost of sales was $0.

As of September 30, 2012 and December 31, 2011, the Company had inventories held at a net realizable value of $34,644 and $0.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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