On March 17, 2011, the Company entered into an agreement (Agreement)
for a proposed joint venture (Blue Water Gaming and Entertainment S.A.) (Blue Water), with Ocean Point Development Corp. (Ocean
Point) to develop and manage an approximately 52,000 square foot Las Vegas style casino at the Trump Ocean Club International Hotel
and Tower, in Panama City, Panama (Trump Ocean Club). As of June 30, 2011, due to the market conditions in Panama, the
Company put this project on hold and wrote off deferred costs of $73,938. The Company is now focusing its development
efforts on its Gulfport Project and is no longer pursuing this development opportunity.