Note 1 - Organization and Summary of Significant Accounting Policies: Interim Financial Statements (Policies)	9 Months Ended
Sep. 30, 2012
Policies
Interim Financial Statements	Interim Financial Statements The unaudited financial statements as of September 30, 2012 and the three and nine months then ended, reflect, in the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to fairly state the financial position and results of the operations for all three and six months. Operating results for interim periods are not necessarily indicative of the results which can be expected for full years.

Note 1 - Organization and Summary of Significant Accounting Policies: Interim Financial Statements (Policies)

9 Months Ended

Sep. 30, 2012

Interim Financial Statements

The unaudited financial statements as of September 30, 2012 and the three and nine months then ended, reflect, in the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to fairly state the financial position and results of the operations for all three and six months. Operating results for interim periods are not necessarily indicative of the results which can be expected for full years.

- Definition

Disclosure made in interim financial reports about error corrections and adjustments related to prior interim periods of the current fiscal year, which includes: (a) the effect on income from continuing operations, net income, and related per share amounts for each prior interim period of the current fiscal year, and (b) income from continuing operations, net income, and related per share amounts for each restated prior interim period. Disclosure also includes the effect of the adjustment on the balance of retained earnings (or other applicable equity accounts) for any period presented.

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PEGASUS TEL, INC. 10-Q