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v2.4.0.6
12. Panama Project
9 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
12. Panama Project

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.