Note 7 - Accounts Payable- Related Party	3 Months Ended
Mar. 31, 2012
Note 7 - Accounts Payable- Related Party:
Note 7 - Accounts Payable- Related Party	NOTE 7 – ACCOUNTS PAYABLE- RELATED PARTY The Company had a related party accounts payable balance as of March 31, 2012 in the amount of $15,766. The balances are comprised of $15,542 due to Lyboldt-Daly, Inc. for bookkeeping expenses and $224 due to shareholder advances.

Note 7 - Accounts Payable- Related Party

3 Months Ended

Mar. 31, 2012

Note 7 - Accounts Payable- Related Party:

Note 7 - Accounts Payable- Related Party

NOTE 7 – ACCOUNTS PAYABLE- RELATED PARTY

The Company had a related party accounts payable balance as of March 31, 2012 in the amount of $15,766. The balances are comprised of $15,542 due to Lyboldt-Daly, Inc. for bookkeeping expenses and $224 due to shareholder advances.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

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-Paragraph k

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+ Details

PEGASUS TEL, INC. 10-Q/A