Except for rules and interpretive
releases of the SEC under authority of federal securities laws and a limited number of grandfathered standards, the FASB
Accounting Standards Codification (ASC) is the sole source of authoritative GAAP literature recognized
by the FASB and applicable to the Company. Management has reviewed the aforementioned rules and releases and believes any
effect will not have a material impact on the Company's present or future financial statements.
does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material
effect on the accompanying financial statements.