Diamondhead Casino (DHCC) 10-K 8 Apr 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 30, 2016	Jun. 30, 2015
Document and Entity Information:
Entity Registrant Name	DIAMONDHEAD CASINO CORP
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Trading Symbol	dhcc
Amendment Flag	false
Entity Central Index Key	844,887
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		36,297,576
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 13,546,143

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash	$ 15,655	$ 843,083
Other current assets	498	36,655
Total current assets	16,153	879,738
Land held for development (Note 3)	5,476,097	5,476,097
Deferred financing costs (net of amortization of $56,218 in 2015 and $18,518 in 2014)	144,882	182,582
Other assets	80	80
Total assets	5,637,212	6,538,497
Current liabilities
Notes and line of credit payable (Note 5)	1,962,500	1,962,500
Short term financing agreement		14,905
Accounts payable and accrued expenses due related parties (Note 4)	2,173,008	1,769,461
Accounts payable and accrued expenses - other (Note 4)	1,899,404	1,535,018
Total current liabilities	6,034,912	5,281,884
Debenture payable (net of unamortized discount of $47,703 in 2015 and $48,887 in 2014) (Note 6)	2,297	1,113
Convertible debentures payable (net of unamortized discount of $1,733,157 in 2015 and $1,778,859 at December 31, 2014) (Note 6)	66,843	21,141
Derivative liability (Note 6)	1,704,570	3,754,233
Total liabilities	$ 7,808,622	$ 9,058,371
Commitments and contingencies (Notes 3 and 11)
Stockholders' deficiency (Note 8)
Preferred stock, $.01 par value; shares authorized 5,000,000, outstanding 2,086,000 in 2015 and 2014 (aggregate liquidation preference of $2,519,080 in 2015 and 2014).	$ 20,860	$ 20,860
Common stock, $.001 par value; shares authorized 50,000,000, Issued: 39,052,472 in 2015 and 2014, outstanding: 36,297,576 in 2015 and 2014.	39,052	39,052
Additional paid-in capital	35,757,201	35,568,649
Unearned ESOP shares	(3,439,476)	(3,558,078)
Accumulated deficit	(34,408,309)	(34,461,551)
Treasury stock, at cost, 448,071 shares at December 31, 2015 and 368,526 shares at December 31, 2014	(140,738)	(128,806)
Total stockholders' deficiency	(2,171,410)	(2,519,874)
Total liabilities and stockholder' deficit	$ 5,637,212	$ 6,538,497

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred financing costs, amortization	$ 56,218	$ 18,518
Preferred stock, par or stated value	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	2,086,000	2,086,000
Preferred stock, shares outstanding	2,086,000	2,086,000
Preferred stock, aggregate liquidation preference	$ 2,519,080	$ 2,519,080
Common stock, par or stated value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	39,052,472	39,052,472
Common stock, shares outstanding	36,297,576	36,297,576
Treasury stock, shares	448,071	368,526
Corporate Debt Securities
Unamortized discount	$ 47,703	$ 48,887
Convertible Debt Securities
Unamortized discount	$ 1,733,157	$ 1,778,859

CONSOLIDATED STATEMENTS OF (LOS

CONSOLIDATED STATEMENTS OF (LOSS) INCOME - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
COSTS AND EXPENSES
Administrative and general	$ 1,085,170	$ 974,844
Stock-based compensation	295,222
Amortization	37,700	18,518
Other	68,223	55,958
Costs and Expenses	1,486,315	1,049,320
OTHER INCOME (EXPENSE)
Amortization of debt discount	(46,886)	(22,254)
Interest expense	(361,620)	(306,182)
Change in fair value of derivative liability	2,049,663	(1,904,233)
Other miscellaneous income		6,214
Other Income (Expense)	1,641,157	(2,226,455)
NET INCOME (LOSS)	154,842	(3,275,775)
PREFERRED STOCK DIVIDENDS	(101,600)	(101,600)
NET INCOME (LOSS) APPLICABLE TO COMMON STOCKHOLDERS	$ 53,242	$ (3,377,375)
Net earnings (loss) per common share, basic	$ 0.001	$ (0.093)
Net earnings (loss) per common share, fully diluted	$ 0.001	$ (0.093)
Weighted average number of common shares outstanding, basic	36,297,575	36,297,575
Weighted average number of common shares outstanding, fully diluted	44,248,659	36,297,575

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Preferred Stock	Common Stock	Additional Paid in Capital	Unearned ESOP Shares	Accumulated Deficit	Treasury Stock	Total
Equity Balance, beginning of period at Dec. 31, 2013	$ 20,860	$ 39,052	$ 35,624,525	$ (3,676,679)	$ (31,084,176)	$ (91,181)	$ 832,401
Stock-based awards			25,100				25,100
ESOP defaulted shares			(80,976)				(80,976)
Shares acquired from ESOP				118,601		(37,625)	80,976
Preferred stock dividends					(101,600)		(101,600)
Net income (loss)					(3,275,775)		(3,275,775)
Equity Balance, end of period at Dec. 31, 2014	20,860	39,052	35,568,649	(3,558,078)	(34,461,551)	(128,806)	(2,519,874)
Stock-based awards			295,222				295,222
ESOP defaulted shares			(106,670)				(106,670)
Shares acquired from ESOP				118,602		(11,932)	106,670
Preferred stock dividends					(101,600)		(101,600)
Net income (loss)					154,842		154,842
Equity Balance, end of period at Dec. 31, 2015	$ 20,860	$ 39,052	$ 35,757,201	$ (3,439,476)	$ (34,408,309)	$ (140,738)	$ (2,171,410)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES
Net income (loss)	$ 154,842	$ (3,275,775)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization	37,700	18,518
Change in fair value of derivative liability	(2,049,663)	1,904,233
Amortization of debt discount	46,886	22,254
Stock-based compensation	295,222
Change in assets and liabilities:
Other assets	36,157	(23,968)
Accounts payable and accrued expenses	666,333	512,135
Net cash used in operating activities	(812,523)	(842,603)
FINANCING ACTIVITIES
Proceeds from private placements, net of financing costs		1,674,000
Proceeds from short term note		16,355
Payment of short term note	(14,905)	(11,775)
Net cash (used in) provided by financing activities	(14,905)	1,678,580
Net (decrease) increase in cash	(827,428)	835,977
Cash beginning of year	843,083	7,106
Cash end of year	15,655	843,083
Cash paid for interest	10,835	1,965
Non-cash financing activities:
Warrants included in deferred financing costs	25,100	25,100
Unpaid preferred stock dividends included in accounts payable and accrued expenses	$ 437,200	$ 335,600

Note 1. Organization and Busine

Note 1. Organization and Business	12 Months Ended
	Dec. 31, 2015
Notes
Note 1. Organization and Business	Note 1. Organization and Business Diamondhead Casino Corporation and Subsidiaries (the "Company") owns a total of approximately 404.5 acres of unimproved land in Diamondhead, Mississippi on which it plans, in conjunction with one or more partners, to construct a casino resort and hotel and associated amenities. The Company was originally formed to principally own, operate and promote gaming vessels offering day and evening cruises in international waters. The Company's Common Stock had been registered with the Securities and Exchange Commission and traded on the over-the-counter market under the symbol "DHCC". The Company's stock registration was revoked effective September 4, 2014, at which time the Company's Common Stock ceased trading in the public market. On March 31, 2015, the Company filed a registration statement on Form 10 to again register its stock with the SEC. The registration became effective May 30, 2015. On or about October 26, 2015, the Company's Common Stock began trading again under the symbol "DHCC".

Note 2. Liquidity and Going Con

Note 2. Liquidity and Going Concern	12 Months Ended
	Dec. 31, 2015
Notes
Note 2. Liquidity and Going Concern	Note 2. Liquidity and Going Concern These consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses over the past several years, has no operations, generates no operating revenues, and as reflected in the accompanying consolidated financial statements, includes net income applicable to common stockholders of $53,242 The Company has had no operations since it ended its gambling cruise ship operations in 2000. Since that time, the Company has concentrated its efforts on the development of its Diamondhead, Mississippi property. That development is dependent upon the Company obtaining the necessary capital, through either equity and/or debt financing, unilaterally or in conjunction with one or more partners, to master plan, design, obtain permits for, construct, open, and operate a casino resort. In the past, in order to raise capital to continue to pay on-going costs and expenses, the Company has borrowed funds, through Private Placements of convertible instruments, which are more fully described in Notes 5 and 6 to these consolidated financial statements. Some of these instruments are past due for payment of both principle and interest under their terms. In addition, at December 31, 2015, the Company had $4,072,412 of accounts payable and accrued expense and only $15,655 cash on hand. On August 6, 2015, certain holders of past due two year convertible promissory notes issued in conjunction with Private Placements dated March 25, 2010 and October 25, 2010, filed an involuntary petition with the United States bankruptcy Court, District of Delaware, seeking relief under Chapter 7 of the U.S. Bankruptcy Code. The current status of this petition is more fully discussed in Note 12 to the consolidated financial statements. The above conditions raise substantial doubt as to the Company's ability to continue as a going concern.

Note 3. Summary of Significant

Note 3. Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes
Note 3. Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Diamondhead Casino Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Land Held for Development Land held for development is carried at cost. Costs directly related to site development, such as licensing, permitting, engineering, and other costs, are capitalized. Land development costs, which have been capitalized, consist of the following: Land under development $4,934,323 Licenses 77,000 Engineering and costs associated with permitting 464,774 $5,476,097 Fair Value Measurements The Company follows the provisions of Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 820 "Fair Value Measurements" for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. The standard discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Input other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable input that reflects management's own assumptions. The table listed below provides a reconciliation of the beginning and ending net balances for the derivative liability measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31, 2015 and 2014: 2015 2014 Beginning balance $3,754,233 $- Total change in unrealized appreciation (depreciation) included in net assets (2,049,663) 1,904,233 Purchases, other settlements and issuances, net - 1,850,000 Ending balance $1,704,570 $3,754,233 Sensitivity Analysis to Changes in Level 3 Assumptions Significant inputs include the dates when required conditions are expected to be met under the conversion terms of the debentures, the underlying market cap due to borrowings and losses and discount for lack of marketability while in the delisted mode and reversed when the Company's stock became publicly listed again on or about October 26, 2015. In addition, use of different ranges of bond discount rates and changes in historical volatility rates would also result in a higher or lower fair value. Current assets and current liabilities are financial instruments and management believes that their carrying amounts are reasonable estimates of their fair values due to their short term nature. The convertible debentures and derivative liability approximate fair value based on Level 3 inputs, as further discussed in Note 6. Long-Lived Assets The Company reviews long-lived assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of long-lived assets is measured by comparing the carrying amount of the assets to the estimated undiscounted future cash flows projected to be generated by the assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount the carrying value exceeds the fair value of such assets determined by appraisal, discounted cash flow projections, or other means. No impairment existed as of December 31, 2015. Employee Stock Ownership Plan The Company has an Employee Stock Ownership Plan (ESOP) covering substantially all employees with one or more years of service, financed by employer loans. The Company also established a trust called the Europa Cruises Corporation Employee Stock Ownership Plan Trust Agreement, to serve as the funding vehicle for the ESOP. Deborah A. Vitale is the sole Trustee of the Trust. Compensation expense was measured at the current market price of shares committed for release and such shares constitute outstanding shares for earnings per share computations. As the loans are repaid, shares are released from the ESOP and allocated to qualified employees based upon the proportion of payments made during the year to the remaining amount of payments due on the loans through maturity. Dividends, if any, are treated as follows: (1) stock dividends on shares allocated to participant accounts shall be credited to the participant account when paid; and (2) cash dividends on shares allocated to participant accounts shall, at the discretion of the Administrator, be credited to the participants' Other Investment Account or be used to reduce the indebtedness to the Company, in which case, shares bearing an equal value to the cash dividend would be allocated to participant accounts. The Company has not paid any dividends on its common stock. For the years 2011 through 2015, the Company elected to temporarily suspend contributions to the Plan, in accordance with the loan pledge agreement between the Company and the ESOP Trust. For each year in which there was no contribution to the Plan, the Plan returned the 79,545 shares, which would have been allocated to employees annually, to treasury. Income Taxes Under the asset and liability method of ASC Topic 740, "Accounting for Income Taxes," deferred tax liabilities and assets are recognized for future tax consequences attributable to differences between the financial statement carrying amounts and the tax basis of assets and liabilities. A valuation allowance is recorded to reflect the uncertainty of realization of deferred tax assets. The Company follows the provisions of ASC Topic 740, "Accounting for Uncertainty in Income Taxes." The standard addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this standard, an entity may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The standard also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. The Company does not have a liability for unrecognized tax benefits. The Company is subject to U.S. federal or state income tax examinations by tax authorities for years after 2010. During the periods open to examination, the Company has net operating loss ("NOL") carryforwards for U.S. federal and state tax purposes that have attributes from closed periods. Since these NOL carryforwards may be utilized in future periods, they remain subject to examination until they expire. The Company's policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of December 31, 2015 and 2014, the Company has no accrued interest or penalties related to uncertain tax positions. Net Loss per Common Share Basic earnings/(loss) per share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings/(loss) per share is calculated by using the weighted average number of common shares outstanding, plus other potentially dilutive securities. Common shares outstanding consist of issued shares, including allocated and committed shares held by the ESOP trust, less shares held in treasury. The dilutive securities below do not include 5,055,555 potentially Convertible Debentures since the requirements for possible conversion have not yet, and may never be, met. The table below summarizes the components of potential dilutive securities at December 31, 2015 and 2014. December 31, December 31, Description 2015 2014 Convertible Preferred Stock 260,000 260,000 Options to Purchase Common Shares 3,440,000 3,440,000 Private Placement Warrants 1,661,500 3,036,500 Convertible Promissory Notes 1,925,000 1,925,000 Total 7,286,500 8,661,500 Stock Based Compensation The Company follows the provisions of ASC Topic 718 "Compensation — Stock Compensation" which requires the measurement and recognition of compensation expense for all share-based payment awards either modified or granted to employees and directors based upon estimated fair values. In the third quarter of 2015, the Board of Directors voted to extend the expiration date of a previously-awarded option to the President to purchase 750,000 shares of common stock at $0.30 per share from October 27, 2015 to March 13, 2018 and voted to extend the expiration date of a previously-awarded option to the President to purchase 75,000 shares of common stock at $0.75 per share from October 27, 2015 to March 13, 2018. In addition, in the third quarter of 2015, the Board of Directors voted to extend the expiration date of a previously-awarded option granted to the current Chairman to purchase 150,000 shares of common stock at $1.25 per share, from October 27, 2015 to March 13, 2018 and to extend the expiration date of a previously-awarded option to purchase common stock granted to a Director of the Company to purchase 75,000 shares of common stock at $0.75, from October 27, 2015 to March 13, 2018. The Company also extended the expiration date on options issued to former employees of the Company and an Honorary Director of the Company to purchase a combined total of 90,000 shares of common stock at $0.75 per share, from October 27, 2015 to March 13, 2018. No share-based awards were issued in 2014. In determining the fair value of each option modified, the Black-Scholes option-pricing model, consistent with the provisions of ASC Topic 718, was used. The valuations were determined using the weighted-average assumptions of 0% dividend yield, expected volatility of 209% and risk-free interest rates ranging from 0.027 to 0.97%. This resulted in a charge to the statement of income (loss) in the amount of $295,222, decreasing the net income per share of common stock $0.008 for the year ending December 31, 2015. Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The Company uses projected volatility rates, which are based upon historical volatility rates, trended into future years. Because the Company's employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing models do not necessarily provide a reliable single measure of the fair value of the Company's options. Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases, which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU 2016-02 is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. While the Company is still evaluating ASU 2016-02, the Company expects the adoption of ASU 2016-02 to have a material effect on the Company's financial condition due to the recognition of the lease rights and obligations as assets and liabilities. The Company does not expect ASU 2016-02 to have a material effect on the Company's results of operations and cash flows. In January 2016, the FASB issued ASU 2016-01, Financial Instruments: Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation and disclosure of financial statements. This guidance will be effective in the first quarter of fiscal year 2019 and early adoption is not permitted. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements. The FASB released ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In November 2015, the FASB issued ASU 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, an update to accounting guidance to simplify the presentation of deferred income taxes. The guidance requires an entity to classify all deferred tax liabilities and assets, along with any valuation allowance, as noncurrent in the balance sheet. The guidance is effective for public companies with annual reporting periods beginning after December 15, 2016, including interim periods within these reporting periods. Early adoption is permitted. The Company has elected to early adopt ASU 2015-17 during the year ended December 31, 2015 with retrospective application. The adoption of ASU 2015-17 did not have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810)". This ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate consolidation of certain legal entities by reducing the number of consolidation models from four to two and is intended to improve current GAAP. The amendments in the ASU are effective beginning after December 15, 2016. The adoption of this guidance should not have a material effect on the Company's financial condition or results of operations. In January 2015, the FASB issued ASU 2015-01, "Income Statement — Extraordinary and Unusual Items (Subtopic 225-20)". This ASU eliminates extraordinary items from US GAAP and will align more closely with International Accounting Standards 1, "Presentation of Financial Statements". The amendments in the ASU are effective beginning after December 15, 2015. The adoption of this guidance should not have a material effect on the Company's financial condition or results of operations. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern. Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management's plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for the reporting periods beginning after December 15, 2016 and early application is permitted. Management is currently assessing the impact the adoption of ASU 2014-15 will have on our consolidated financial statements.

Note 4. Accounts Payable and Ac

Note 4. Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2015
Notes
Note 4. Accounts Payable and Accrued Expenses	Note 4 Accounts Payable and Accrued Expenses The table below outlines the elements included in accounts payable and accrued expenses at December 31, 2015 and 2014: December 31, December 31, Description 2015 2014 Related Parties: Accrued payroll due officers 1,469,711 1,288,136 Accrued interest due officers 382,976 270,166 Accrued director fees 221,250 131,250 Base rents due to the President 49,622 40,554 Associated rental costs 32,141 22,047 Other 17,308 17,308 Total Related Parties 2,173,008 1,769,461 Non-Related Parties: Accrued interest 994,379 756,405 Accrued dividends 457,200 355,600 Accrued fines and penalties 232,849 142,603 Other accounts payable and accrued expenses 214,976 280,410 Total Non-related Parties 1,899,404 1,535,018 Total accounts payable and accrued expenses 4,072,412 3,304,479

Note 5. Notes Payable

Note 5. Notes Payable	12 Months Ended
	Dec. 31, 2015
Notes
Note 5. Notes Payable	Note 5. Notes Payable Line of Credit On October 23, 2008, the Company entered into an agreement with an unrelated third party for an unsecured Line of Credit up to a maximum of $1,000,000. The Line of Credit provided for funds to be drawn as needed and carries an interest rate on amounts borrowed of 9% per annum originally payable quarterly based on the pro rata number of days outstanding. All funds originally advanced under the facility were due and payable by November 1, 2012. As an inducement to provide the facility, the lender was awarded an immediate option to purchase 50,000 shares of common stock of the Company at $1.75 per share. In addition, the lender received an option to purchase a maximum of 250,000 additional shares of common stock of the Company at $1.75 per share. The options expire following repayment in full by the Company of the amount borrowed. As of December 31, 2009, the Company had borrowed all of the $1,000,000 available to it under the Line of Credit. Interest on this debt incurred prior to June 30, 2009 has been paid in full. The Company was unable to satisfy the principal obligation of $1,000,000 by the due date of November 1, 2012 or any interest which accrued on the obligation after June 30, 2009 and is in default under the repayment terms of the note. Convertible Notes and Warrants Pursuant to a Private Placement Memorandum dated March 1, 2010, the Company offered Units consisting of a two year unsecured, convertible promissory note in the principal amount of $25,000 with interest at 12% per annum, together with a five year Warrant to purchase 50,000 shares of the Company's common stock at an exercise price of $1.00 per share. The Promissory Note is convertible into 50,000 shares of common stock of the Company immediately upon issuance at the option of the investor . Pursuant to an additional Private Placement Memorandum dated October 25, 2010, the Company offered Units consisting of a two year unsecured, convertible promissory note in the principal amount of $25,000 together with a five year Warrant to purchase 50,000 shares of the Company's common stock at an exercise price of $1.00 per share. The Promissory Notes bear interest at 9% per annum and are convertible into 50,000 shares of common stock of the Company. Interest on the notes was originally payable in either cash or common stock at the option of the Company. However, interest may now be required to be paid in cash . The Convertible Notes issued via the Private Placements discussed above total $962,500 in aggregate and became due and payable beginning in March 2012 and extending at various dates through June 2013. As of the date of the filing of this report, all of the aforementioned debt obligations remain unpaid and in default under the repayment terms of the notes. In addition, all of the warrants attached to the convertible notes issued in the March 25, 2010 private placement have expired, while warrants to purchase 600,000 shares of common stock associated with the October 25, 2010 private placement remain outstanding and exercisable. The table below summarizes the Company's notes payable at December 31, 2015 and 2014: Gross Amount Loan Facility Owed Line of Credit $1,000,000 Private Placements: March 1, 2010 475,000 October 25, 2010 487,500 Total Private Placements 962,500 Total Note Payable $1,962,500

Note 6. Convertible Debentures

Note 6. Convertible Debentures and Derivative Liability	12 Months Ended
	Dec. 31, 2015
Notes
Note 6. Convertible Debentures and Derivative Liability	Note 6. Convertible Debentures and Derivative Liability Pursuant to a Private Placement Memorandum dated February 14, 2014 (the "Private Placement"), the Company offered up to a maximum of $3,000,000 of Collateralized Convertible Senior Debentures to accredited or institutional investors. The Offering was conducted contingent on the deposit into Escrow of the purchase price for all of the Debentures offered in the principal amount of $3,000,000. The Debentures, once issued, bear interest at 4% per annum after 180 days , (a) $1,000,000 of First Tranche Collateralized Convertible Senior Debentures convertible into an aggregate of 3,333,333 shares of Common Stock of the Company at a conversion price of $ .30 per share (the "First Tranche Debentures"); (b) $1,000,000 of Second Tranche Collateralized Convertible Senior Debentures, convertible into an aggregate of 2,222,222 shares of Common Stock of the Company at a conversion price of $ .45 per share (the "Second Tranche Debentures"); and (c) $1,000,000 of Third Tranche Collateralized Convertible Senior Debentures, convertible into either 1,818,182 shares of Common Stock or 1,333,333 shares of Common Stock of the Company, at a conversion price of $ .55 or $ .75 per share depending upon certain conditions described in the Private Placement Memorandum (the "Third Tranche Debentures"). On March 31, 2014, the First Closing occurred when subscriptions in the amount of $3,000,000 were received in Escrow and accepted by the Company. The Escrow Agent released $1,000,000 to the Company and the Company issued First Tranche Debentures in the aggregate principle amount of $1,000,000. The Company's stock registration was revoked effective September 4, 2014. Therefore, on December 4, 2014, the Company extended offers to the investors to amend the Private Placement. The Company offered to amend certain terms and conditions, including the conversion terms of the First Tranche Debentures, which were issued on March 31, 2014 ("Amendment I"). The Company separately offered to amend certain terms and conditions, including those relating to issuance and conversion of the Second and Third Tranche Debentures, as well as the period of time within which to perform the Third Tranche Closing Obligations, as amended ("Amendment II"). On December 31, 2014, investors who had purchased $950,000 of First Tranche Debentures consented to the amended conversion terms of Amendment I. The remaining Debenture in the amount of $50,000 remains as originally issued with no conversion rights. Thus, the First Tranche Debentures can be converted into a total of 3,166,666 shares of common stock. On December 31, 2014, the Second Closing occurred when investors representing $850,000 of Second Tranche Debentures consented to Amendment II. The Escrow Agent released $850,000 to the Company and the Company issued Second Tranche Debentures in the aggregate principle amount of $850,000. Thus, the Second Tranche Debentures can be converted into 1,888,889 shares of common stock. The Escrow Agent refunded $300,000 to those investors who did not consent to Amendment II. The Company did not meet the closing obligations for the Third Tranche Debentures as of June 30, 2015, as was required, pursuant to the terms of the Private Placement, as amended. Therefore, the remaining $850,000 being held in escrow for the purchase of the Third Tranche Debentures was returned to the investors in July 2015. For purposes of determining the proper accounting treatment and valuation of the instruments, the Company applied the provisions set forth in ASC Topic 820, "Fair Value in Financial Instruments" and ASC Topic 815, "Accounting for Derivative Instruments and Hedging Activities." Since the Notes issued have derivative features, the embedded derivatives should be bundled and valued as a single, compound embedded derivative, bifurcated from the debt host and treated as a liability. In addition, the valuation is required to be conducted for each reporting period the instrument was in existence. As previously noted, the Company's stock registration was revoked effective September 4, 2014. Therefore, the Company engaged an independent valuation expert to determine the fair value of its shares of common stock for each quarter beginning with the quarter ended September 30, 2014 through the quarter ended September 30, 2015. For periods after September 3, 2014, the fair value was estimated by adjusting the most recent market price by changes in the underlying market cap due to changes in the value of net assets and applying a discount for lack of marketability inasmuch as the stock was not trading. The stock began to trade again on or about October 26, 2015 and, therefore, the closing price of the stock was used in the valuation at December 31, 2015. Monte Carlo models were developed to value the derivative liability within the Notes using a historical volatility rate of 132% at December 31, 2015 and 172% at December 31, 2014, and using discount bond rates based on the expected remaining term of each instrument ranging from 6.45% to 7.07% at December 31, 2015 and 5.78% to 9.85% at December 31, 2014, with conversion requirements expected to be met by October 31, 2016 for the 2015 calculation. The estimated December 31, 2015 December 31, 2014 Tranche 1 $893,731 $2,014,733 Tranche 2 810,839 1,739,500 Derivative Liability $1,704,570 $3,754,233 At the initial valuation date of each Tranche, a portion of the derivative liability was allocated to the Convertible Debentures as debt discount, with the remainder being recorded as other income/expense. At March 31, 2014, the initial valuation of First Tranche Debentures, $1,000,000, was allocated to debt discount and at December 31, 2014, the initial valuation of Second Tranche Debentures, $850,000, was allocated to debt discount. The debt discount is subsequently amortized to expense using an effective interest methodology. Amortization of debt discount amounted to $45,702 and $21,141 for Convertible Debentures and $1,184 and $1,113 for the non-convertible Debenture for the years ended December 31, 2015 and 2014 respectively. The Company recorded a decrease of $2,049,663 and an increase of $1,904,233 associated with the change in fair value of the derivatives for the years ended December 31, 2015 and 2014 respectively. In the event the Company fails to meet the conditions for conversion of the Debentures, the First Tranche Convertible Debentures, which total $950,000, would be due on March 31, 2020 and the Second Tranche Convertible Debentures, which total $850,000, would be due December 31, 2020. The sole remaining non-convertible Debenture in the amount of $50,000 is due March 31, 2020. As discussed more fully in Note 12, on August 6, 2015 ,

Note 7. Related Party Transacti

Note 7. Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Notes
Note 7. Related Party Transactions	Note 7. Related Party Transactions The President of the Company is owed deferred salary in the amount of $1,266,996 and the Vice President and current Director of the Company is owed deferred salary in the amount of $121,140 as of December 31, 2015. On October 12, 2012 the Board of Directors approved a motion to pay these individuals interest on their deferred compensation retroactive to the outstanding amounts due beginning in 2010 through the date of actual payment. Accrued interest through December 31, 2015 and 2014 amounted to $382,976 and $270,166, respectively. Effective September 1, 2011, the Company entered into a month-to-month lease with the President and then-Chairman of the Board of Directors of the Company, for office space in a furnished and fully equipped townhouse office building owned by the President in Alexandria, Virginia. The lease calls for monthly base rent in the amount of $4,534 and payment of associated costs of insurance, real estate taxes, expenses and utilities. Rent expense associated with this lease amounted to base rent in the amount of $54,408 and associated rental costs of $12,983 for a total of $67,391 for the year ended December 31, 2015 and base rent in the amount of $54,408 and associated rental costs of $15,940 for a total of $70,348 for the year ended December 31, 2014. In 2015, the Company paid for ten months base rent in the amount of $45,340. The remaining rent due, in the amount of $9,068, was accrued. In 2014, the Company paid $140,806 for rent due of $54,408 for the year 2014 and past rents due, but unpaid, going back to September of 2011. Effective January 1, 2013, the directors of the Company will be compensated at a rate of $15,000 per annum. Each Director will be eligible for an annual payment in the amount of $15,000 as long as they remain a Director through December 31 of the applicable year, absent death or incapacitation. The annual payment to new directors will be prorated based upon months served in their initial year as a Director. The Company has been unable to pay directors' fees to date. As of December 31, 2015 and 2014 a total of $221,250 and $131,250 respectively, was due and owing to the Company's directors. Directors have previously been compensated and may, in the future, be compensated for their services with Common Stock or options to purchase Common Stock of the Company. Directors are reimbursed for expenses incurred in attending meetings. Directors may be paid a consulting fee for services performed outside the scope of their directorship.

Note 8. Stockholders' Equity

Note 8. Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Notes
Note 8. Stockholders' Equity	Note 8. Stockholders' Equity At December 31, 2015 and 2014, the Company had a stock option plan and non-plan options, which are described below. Non-Plan Stock Options In the third quarter of 2015, the Board of Directors voted to extend the expiration date of a previously-awarded option to the President to purchase 750,000 shares of common stock at $0.30 per share from October 27, 2015 to March 13, 2018 and voted to extend the expiration date of a previously-awarded option to the President to purchase 75,000 shares of common stock at $0.75 per share from October 27, 2015 to March 13, 2018. In addition, in the third quarter of 2015, the Board of Directors voted to extend the expiration date of a previously-awarded option granted to the current Chairman to purchase 150,000 shares of common stock at $1.25 per share, from October 27, 2015 to March 13, 2018 and to extend the expiration date of a previously-awarded option to purchase common stock granted to a Director of the Company to purchase 75,000 shares of common stock at $0.75, from October 27, 2015 to March 13, 2018. The Company also extended the expiration date on options issued to former employees of the Company and an Honorary Director of the Company to purchase a combined total of 90,000 shares of common stock at $0.75 per share, from October 27, 2015 to March 13, 2018. Stock Option Plan On December 19, 1988, the Company adopted a stock option plan (the "Plan") for its officers and management personnel under which options could be granted to purchase up to 1,000,000 shares of the Company's common stock. Accordingly, the Company reserved 1,000,000 shares for issuance under the Plan. The exercise price may not be less than 100% of the market value of the shares on the date of the grant. The options expire within ten years from the date of grant. At December 31, 2015, no options from this plan were issued or exercised. Summary of Stock Options A summary of the status of the Company's fixed Plan and non-plan options as of December 31, 2015 and 2014, and changes during the years ended December 31, 2015 and 2014 is presented below. December 31, 2015 December 31, 2014 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at beginning of year 3,440,000 $.44 3,440,000 $.44 Granted - - - - Exercised - - - - Expired - - - - Outstanding at end of year 3,440,000 $.44 3,440,000 $.44 Options exercisable at year-end 3,440,000 3,440,000 Weighted-average fair value of options granted during the year $ .00 $.00 The following tables summarize information about stock options outstanding and exercisable at December 31, 2015 and 2014: December 31, 2015 Options Outstanding Options Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/15 Life (Yrs.) Price 12/31/15 Price $.19 2,000,000 2.20 $.19 2,000,000 $.19 $.30 750,000 2.20 .30 750,000 .30 $.75 240,000 2.20 .75 240,000 .75 $1.25 150,000 2.20 1.25 150,000 1.25 $1.75 300,000 (a) 1.75 300,000 1.75 3,440,000 3,440,000 December 31, 2014 Options Outstanding Options Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/14 Life (Yrs.) Price 12/31/14 Price $.19 2,000,000 3.20 $.19 2,000,000 $.19 $.30 750,000 .82 .30 750,000 .30 $.75 240,000 .82 .75 240,000 .75 1.25 150,000 .82 1.25 150,000 1.25 $1.75 300,000 (a) 1.75 300,000 1.75 3,440,000 3,440,000 (a) These options expire upon payment in full of an outstanding note payable with an original due date of November 1, 2012. The note payable remains outstanding at December 31, 2015 and 2014. Warrants The Company has previously issued warrants to purchase shares of the Company's common stock in conjunction with convertible promissory notes issued in private placements dated March 25, 2010 and October 25, 2010. The Company also issued warrants in conjunction with a private placement of shares of the Company's common stock dated July 1, 2012. A summary of the status of the Company's outstanding warrants as of December 31, 2015 and 2014, and changes during the years ended on December 31, 2015 and 2014 is presented below. December 31, 2015 December 31, 2014 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at beginning of year 3,036,500 $.740 2,986,500 $.750 Granted - 50,000 .375 Exercised - - Expired 1,375,000 1.000 - Outstanding at end of year 1,661,500 $.525 3,036,500 $.740 Warrants exercisable at year-end 1,661,500 3,036,500 Weighted-average fair value of warrants granted during the year $0 $.375 The following tables summarize information about warrants outstanding and exercisable at December 31, 2015 and 2014: December 31, 2015 Warrants Outstanding Warrants Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/15 Life (Yrs.) Price 12/31/15 Price $.25 1,011,500 1.82 .25 1,011,500 .25 $ .30 25,000 1.25 .30 25,000 .30 $ .45 25,000 2.00 .45 25,000 .45 $1.00 600,000 .11 1.00 600,000 1.00 1,661,500 1,661,500 December 31, 2014 Warrants Outstanding Warrants Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/14 Life (Yrs.) Price 12/31/14 Price $.25 1,011,500 2.82 .25 1,011,500 .25 $.30 25,000 2.25 .30 25,000 .30 $.45 25,000 3.00 .45 25,000 .45 $1.00 1,975,000 .65 1.00 1,975,000 1.00 3,036,500 3,036,500 Preferred Stock Series S Preferred Stock On June 14, 1993, the Company issued 926,000 shares of $.01 par value Series S Voting, Non-Convertible Preferred Stock to Austroinvest International, Inc. in exchange for proceeds of $1,000,080. The Company is required to pay quarterly cumulative dividends of three percent per annum on these shares. These shares may be redeemed at the option of the Company at $1.08 per share plus $.0108 per share for each quarter that such shares are outstanding. The shares also have a $1.08 per share preference in involuntary liquidation of the Company. At December 31, 2015 and 2014, outstanding Series S preferred stock totaled 926,000 shares. Cumulative dividends in arrears at December 31, 2015 and 2014 amounted to $135,000 and $105,000 respectively. Series S-NR Preferred Stock On September 13, 1993, the Company issued 900,000 shares of its $.01 par value Series S-NR Voting, Non-Convertible, Non-Redeemable, Preferred Stock to Serco International Limited (a wholly-owned subsidiary of Austroinvest International, Inc.), in exchange for proceeds of $999,000. The Company is required to pay quarterly, non-cumulative dividends of three percent per annum on these shares. Upon involuntary liquidation of the Company, the liquidation preference of each share is $1.11. At December 31, 2015 and 2014, outstanding Series S-NR preferred stock totaled 900,000 shares. Series S-PIK Preferred Stock In March 1994, the Company offered, pursuant to Regulation S, one million units at $5.50 per unit, each unit consisting of one share of the Company's $.001 par value common stock and two shares of the Company's Series S-PIK Junior, cumulative, convertible, non-redeemable, non-voting $.01 par value preferred stock. Each share of Series S-PIK preferred stock is convertible into one share of the Company's common voting stock at any time after February 15, 1995. No shares were converted during 2015 and 2014 . Payment of Preferred Dividends The Company did not pay any dividends due on its preferred stock in 2015 or 2014.

Note 9. Employee Stock Ownershi

Note 9. Employee Stock Ownership Plan	12 Months Ended
	Dec. 31, 2015
Notes
Note 9. Employee Stock Ownership Plan	Note 9. Employee Stock Ownership Plan The Company's employee stock ownership plan (ESOP) is intended to be a qualified retirement plan and an employee stock ownership plan. All employees having one year of service are eligible to participate in the ESOP. The ESOP is funded by two 8% promissory notes issued by the Company. The shares of common stock are pledged to the Company as security for the loans. The promissory notes are payable from the proceeds of annual contributions made by the Company to the ESOP. In the event that the Company elects not to make a Plan contribution in any given year, the corresponding shares applicable to that year are released from the Trust to the Company in consideration of that years' note payment. In January 2001, the Plan and accompanying promissory notes were amended to conform to the Company's current employment structure, by extending the note repayment terms through 2044. Assuming a Plan contribution is made, shares are allocated to the participants' accounts in relation to repayments of the loans from the Company. At December 31, 2015, 2,306,825 shares with a fair market value of $346,024 are unearned. At December 31, 2014, 2,386,370 shares with a fair market value of $1,128,753 were unearned. In 2011, the Company decided to temporarily suspend contributions to the Plan. Therefore the Trust was unable to make its annual loan payment to the company and a loan default occurred. In accordance with the Pledge Agreement between the Company and the Trust, the shares attached to the loan payments subsequent to the 2010 contribution reverted back to the Company as treasury shares. In 2015, 79,545 shares, with a market value of $11,932, reverted back to the Company treasury. In 2014, 79,545 shares with a market value of $37,625 reverted back to the Company treasury.

Note 10. Income Taxes

Note 10. Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes
Note 10. Income Taxes	Note 10. Income Taxes At December 31, 2015, the Company had net operating loss carryforwards for income taxes of approximately $13.2 million, which expire during various periods through 2035. Realization of deferred income taxes as of December 31, 2015 and 2014 is not considered likely. Therefore, by applying a Federal statutory rate of 35% to the carryforward amounts, a valuation allowance of approximately $4.6 million and $4.4 million has been established for the entire amount of deferred tax assets relative to the net operating loss at December 31, 2015 and 2014, respectively, resulting in an effective tax rate of 0% and no deferred tax asset recognition. The valuation allowance increased by approximately $200,000 in 2015 and $300,000 in 2014.

Note 11. Commitments and Contin

Note 11. Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Notes
Note 11. Commitments and Contingencies	Note 11. Commitments and Contingencies Leases Effective September 1, 2011, the Company entered into a month-to-month lease with the President and CEO of the Company for office space in a building owned by the President and CEO in Alexandria, Virginia. The lease calls for monthly base rent in the amount of $4,534 or $54,408 per annum and payment of associated costs of insurance, real estate taxes, expenses and utilities. Base rent and associated rental expenses totaled $67,391 in 2015 and $70,348 in 2014. The Company is not liable for future minimum lease payments. Management Agreement On June 19, 1993, two subsidiaries of Diamondhead Casino Corporation, Casino World Inc. and Mississippi Gaming Corporation, entered into a Management Agreement with Casinos Austria Maritime Corporation (CAMC). Subject to certain conditions, under the Management Agreement, CAMC would operate, on an exclusive basis, all of the Company's proposed dockside gaming casinos in the State of Mississippi, including any operation fifty percent (50%) or more of which is owned by the Company or its affiliates. Unless terminated earlier pursuant to the provisions of the Agreement, the Agreement terminates five years from the first day of actual Mississippi gaming operations and provides for the payment of an annual operational term management fee of 1.2% of all gross gaming revenues between zero and $100,000,000; plus 0.75% of gross gaming revenue between $100,000,000 and $140,000,000; plus 0.5% of gross gaming revenue above $140,000,000; plus two percent of the net gaming revenue between zero and $25,000,000; plus three percent of the net gaming revenue above twenty-five million dollars $25,000,000. Management of the Company believes this Agreement is no longer in effect. However, there can be no assurance that CAMC will not attempt to maintain otherwise which would lead to litigation. Related Parties The Company has an agreement with a Director pursuant to which he will be paid a bonus in the event of any recovery received from litigation against BP relating to the oil spill. This Director will receive ten percent of any amounts received by the Company, after deduction of attorney fees and expenses relating to the litigation. Other The Company's obligations under the Collateralized Convertible Senior Debentures are secured by a lien on the Company's Mississippi property (the "Investors Lien"). On March 31, 2014, the Company issued $1 million of First Tranche Collateralized Convertible Senior Debentures and on December 31, 2014 the Company issued $850,000 of Second Tranche Collateralized Convertible Senior Debentures. Thus, liens were placed on the Property in favor of the Investors for $1,850,000. The Investors Lien is in pari passu The Company is currently delinquent in filing those documents and forms required to be filed in connection with its Employee Stock Ownership Plan ("ESOP") for the years ended December 31, 2010, 2011, 2012, 2013 and 2014. The Company did not have the funds to pay professionals to prepare, audit and file these documents and forms when due. Although these required filings normally do not result in any tax due to an agency of the government, the Company could be subject to significant penalties for failure to file these forms when due. Penalties are assessed by both the Department of Labor and the Internal Revenue Service on a per diem basis from the original due dates for the required informational filings until the filings are actually made. The Company has accrued $90,246 and $57,305 in penalties for the years ending December 31, 2015 and 2014 respectively, based on the current delinquent filings. In addition, the Company expects that cumulative penalties for all delinquent ESOP filings could total approximately $232,800 through December 31, 2015. The Company intends to bring its ESOP-required filings current and when current, will attempt to enroll in a voluntary compliance program with the Department of Labor and the Internal Revenue Service with respect to any penalties or fines incurred. However, there can be no assurance the Company will be able to enroll in any such program or obtain a reduction of the fines and penalties that may be due.

Note. 12 Pending and Threatened

Note. 12 Pending and Threatened Litigation	12 Months Ended
	Dec. 31, 2015
Notes
Note. 12 Pending and Threatened Litigation	Note. 12 Pending and Threatened Litigation College Health & Investment, L.P. v. Diamondhead Casino Corporation (Delaware Superior Court)(C.A. No. N15C-01-119-WCC) On January 15, 2015, the plaintiff, a beneficial owner of in excess of 5% of the common stock of the Company, filed suit for breach of a Promissory Note issued March 25, 2010, in the principle amount of $150,000, with interest payable at 12% per annum, with a maturity date of March 25, 2012. Plaintiff seeks payment of principle of $150,000, interest due through December 31, 2014 in the amount of $45,000, and interest due of 12% per annum from December 31, 2014 until entry of judgment. The Note, as well as the accrued interest thereon, are shown as current liabilities on the Company's balance sheet at December 31, 2015. On January 22, 2015, the defendant forwarded a Notice of Conversion to plaintiff, exercising the Borrower's right to convert the principal and any interest due on the Note into common stock. On February 11, 2015, the Company moved to dismiss the complaint as moot. The plaintiff filed an opposition to the motion to dismiss alleging that the Note was convertible only prior to its maturity date. On July 2, 2015, the Court agreed with the Plaintiff and denied the Company's motion to dismiss. On July 16, 2015, the Company filed an Answer and Grounds of Defense. On August 18, 2015, the Company filed a Suggestion of Bankruptcy and Automatic Stay. The matter has been stayed due to the below-referenced bankruptcy action (Case No. 15-11647). College Health & Investment, L.P. v. Diamondhead Casino Corporation (In the Court of Chancery of the State of Delaware (C.A. No. 10663-CB) On February 13, 2015, the plaintiff, a beneficial owner of in excess of 5% of the common stock of the Company, filed a Verified Complaint Pursuant to 8 Del.C.§211(c), with a Verification signed by the plaintiff's General Partner, Samuel I. Burstyn, seeking an order compelling the Company to hold an annual meeting. The Company agreed to entry of an Order setting a new date for an annual meeting of June 8, 2015, a Record Date of April 24, 2015, and to clarify that there is no advance notice requirement for the submission of stockholder proposals at the Company's annual stockholders' meetings. The plaintiff sought costs and expenses, including attorneys' fees. On or about July 7, 2015, the Plaintiff filed a Motion for an Award of Attorneys' Fees and Reimbursement of Expenses in the total amount of $150,000 for both this case and the following case. The Company filed an opposition to this motion. On August 18, 2015, the Company filed a Suggestion of Bankruptcy and Automatic Stay. The matter has been stayed due to the below-referenced bankruptcy action (Case No. 15-11647). College Health & Investment, L.P. v. Edson R. Arneault, Deborah A. Vitale, Gregory A. Harrison, Martin Blount and Benjamin Harrell(In the Court of Chancery of the State of Delaware)(C.A. No. 10793-CB) On March 14, 2015, the plaintiff, a beneficial owner of in excess of 5% of the common stock of the Company, filed a Verified Complaint, with a Verification signed by the plaintiff's General Partner, Samuel I. Burstyn. In Count I, the plaintiff alleges that the defendants breached their fiduciary duty of disclosure. In Count II, the plaintiff alleges that defendants breached their fiduciary duties of loyalty and care. The plaintiff sought injunctive relief, but no monetary damages other than attorney's fees. The defendants believe that plaintiff's claims are without merit and intend to vigorously defend this lawsuit. In addition, on or about July 30, 2015, the defendant directors filed Defendants' Answer and Verified Counterclaims for defamation, breach of fiduciary duty and aiding and abetting a breach of fiduciary duty. On August 19, 2015, the plaintiff filed a Motion to Dismiss the Counterclaims. As noted above, on or about July 7, 2015, the Plaintiff filed a Motion for an Award of Attorneys' Fees and Reimbursement of Expenses in the total amount of $150,000 in this case and the above-referenced case. On or about August 26, 2015, the defendants filed an Opposition to Plaintiff's Motion for an Award of Fees and Reimbursement of Expenses. On September 25, 2015, the parties entered into a Stipulation and [Proposed] Order Staying Litigation pending the below-referenced bankruptcy action. (Case No. 15-11647). In re Diamondhead Casino Corporation (United States Bankruptcy Court)(District of Delaware)(Case No. 15-11647-LSS) On August 6, 2015 ,

Note 13. Subsequent Event

Note 13. Subsequent Event	12 Months Ended
	Dec. 31, 2015
Notes
Note 13. Subsequent Event	Note 13. Subsequent Event In the first quarter of 2016, the Company solicited and received cash advances totaling $42,500 of which $25,000 came from current Directors of the Company. Proceeds from the advanced funds were earmarked for the payment of accounting and auditing fees. The advances are unsecured and carry an annual interest rate of 8%. A full year of interest will accrue in any year in which the advance remains unpaid for a portion of the year.

Note 3. Summary of Significan20

Note 3. Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Diamondhead Casino Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Estimates	Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Land Held For Development	Land Held for Development Land held for development is carried at cost. Costs directly related to site development, such as licensing, permitting, engineering, and other costs, are capitalized. Land development costs, which have been capitalized, consist of the following: Land under development $4,934,323 Licenses 77,000 Engineering and costs associated with permitting 464,774 $5,476,097
Fair Value Measurements	Fair Value Measurements The Company follows the provisions of Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 820 "Fair Value Measurements" for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. The standard discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Input other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable input that reflects management's own assumptions. The table listed below provides a reconciliation of the beginning and ending net balances for the derivative liability measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31, 2015 and 2014: 2015 2014 Beginning balance $3,754,233 $- Total change in unrealized appreciation (depreciation) included in net assets (2,049,663) 1,904,233 Purchases, other settlements and issuances, net - 1,850,000 Ending balance $1,704,570 $3,754,233 Sensitivity Analysis to Changes in Level 3 Assumptions Significant inputs include the dates when required conditions are expected to be met under the conversion terms of the debentures, the underlying market cap due to borrowings and losses and discount for lack of marketability while in the delisted mode and reversed when the Company's stock became publicly listed again on or about October 26, 2015. In addition, use of different ranges of bond discount rates and changes in historical volatility rates would also result in a higher or lower fair value. Current assets and current liabilities are financial instruments and management believes that their carrying amounts are reasonable estimates of their fair values due to their short term nature. The convertible debentures and derivative liability approximate fair value based on Level 3 inputs, as further discussed in Note 6.
Long-lived Assets	Long-Lived Assets The Company reviews long-lived assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of long-lived assets is measured by comparing the carrying amount of the assets to the estimated undiscounted future cash flows projected to be generated by the assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount the carrying value exceeds the fair value of such assets determined by appraisal, discounted cash flow projections, or other means. No impairment existed as of December 31, 2015.
Employee Stock Ownership Plan	Employee Stock Ownership Plan The Company has an Employee Stock Ownership Plan (ESOP) covering substantially all employees with one or more years of service, financed by employer loans. The Company also established a trust called the Europa Cruises Corporation Employee Stock Ownership Plan Trust Agreement, to serve as the funding vehicle for the ESOP. Deborah A. Vitale is the sole Trustee of the Trust. Compensation expense was measured at the current market price of shares committed for release and such shares constitute outstanding shares for earnings per share computations. As the loans are repaid, shares are released from the ESOP and allocated to qualified employees based upon the proportion of payments made during the year to the remaining amount of payments due on the loans through maturity. Dividends, if any, are treated as follows: (1) stock dividends on shares allocated to participant accounts shall be credited to the participant account when paid; and (2) cash dividends on shares allocated to participant accounts shall, at the discretion of the Administrator, be credited to the participants' Other Investment Account or be used to reduce the indebtedness to the Company, in which case, shares bearing an equal value to the cash dividend would be allocated to participant accounts. The Company has not paid any dividends on its common stock. For the years 2011 through 2015, the Company elected to temporarily suspend contributions to the Plan, in accordance with the loan pledge agreement between the Company and the ESOP Trust. For each year in which there was no contribution to the Plan, the Plan returned the 79,545 shares, which would have been allocated to employees annually, to treasury.
Income Taxes	Income Taxes Under the asset and liability method of ASC Topic 740, "Accounting for Income Taxes," deferred tax liabilities and assets are recognized for future tax consequences attributable to differences between the financial statement carrying amounts and the tax basis of assets and liabilities. A valuation allowance is recorded to reflect the uncertainty of realization of deferred tax assets. The Company follows the provisions of ASC Topic 740, "Accounting for Uncertainty in Income Taxes." The standard addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this standard, an entity may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The standard also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. The Company does not have a liability for unrecognized tax benefits. The Company is subject to U.S. federal or state income tax examinations by tax authorities for years after 2010. During the periods open to examination, the Company has net operating loss ("NOL") carryforwards for U.S. federal and state tax purposes that have attributes from closed periods. Since these NOL carryforwards may be utilized in future periods, they remain subject to examination until they expire. The Company's policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of December 31, 2015 and 2014, the Company has no accrued interest or penalties related to uncertain tax positions.
Net Earnings (loss) Per Common Share	Net Loss per Common Share Basic earnings/(loss) per share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted earnings/(loss) per share is calculated by using the weighted average number of common shares outstanding, plus other potentially dilutive securities. Common shares outstanding consist of issued shares, including allocated and committed shares held by the ESOP trust, less shares held in treasury. The dilutive securities below do not include 5,055,555 potentially Convertible Debentures since the requirements for possible conversion have not yet, and may never be, met. The table below summarizes the components of potential dilutive securities at December 31, 2015 and 2014. December 31, December 31, Description 2015 2014 Convertible Preferred Stock 260,000 260,000 Options to Purchase Common Shares 3,440,000 3,440,000 Private Placement Warrants 1,661,500 3,036,500 Convertible Promissory Notes 1,925,000 1,925,000 Total 7,286,500 8,661,500
Stock Based Compensation	Stock Based Compensation The Company follows the provisions of ASC Topic 718 "Compensation — Stock Compensation" which requires the measurement and recognition of compensation expense for all share-based payment awards either modified or granted to employees and directors based upon estimated fair values. In the third quarter of 2015, the Board of Directors voted to extend the expiration date of a previously-awarded option to the President to purchase 750,000 shares of common stock at $0.30 per share from October 27, 2015 to March 13, 2018 and voted to extend the expiration date of a previously-awarded option to the President to purchase 75,000 shares of common stock at $0.75 per share from October 27, 2015 to March 13, 2018. In addition, in the third quarter of 2015, the Board of Directors voted to extend the expiration date of a previously-awarded option granted to the current Chairman to purchase 150,000 shares of common stock at $1.25 per share, from October 27, 2015 to March 13, 2018 and to extend the expiration date of a previously-awarded option to purchase common stock granted to a Director of the Company to purchase 75,000 shares of common stock at $0.75, from October 27, 2015 to March 13, 2018. The Company also extended the expiration date on options issued to former employees of the Company and an Honorary Director of the Company to purchase a combined total of 90,000 shares of common stock at $0.75 per share, from October 27, 2015 to March 13, 2018. No share-based awards were issued in 2014. In determining the fair value of each option modified, the Black-Scholes option-pricing model, consistent with the provisions of ASC Topic 718, was used. The valuations were determined using the weighted-average assumptions of 0% dividend yield, expected volatility of 209% and risk-free interest rates ranging from 0.027 to 0.97%. This resulted in a charge to the statement of income (loss) in the amount of $295,222, decreasing the net income per share of common stock $0.008 for the year ending December 31, 2015. Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The Company uses projected volatility rates, which are based upon historical volatility rates, trended into future years. Because the Company's employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing models do not necessarily provide a reliable single measure of the fair value of the Company's options.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases, which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU 2016-02 is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. While the Company is still evaluating ASU 2016-02, the Company expects the adoption of ASU 2016-02 to have a material effect on the Company's financial condition due to the recognition of the lease rights and obligations as assets and liabilities. The Company does not expect ASU 2016-02 to have a material effect on the Company's results of operations and cash flows. In January 2016, the FASB issued ASU 2016-01, Financial Instruments: Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation and disclosure of financial statements. This guidance will be effective in the first quarter of fiscal year 2019 and early adoption is not permitted. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements. The FASB released ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In November 2015, the FASB issued ASU 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, an update to accounting guidance to simplify the presentation of deferred income taxes. The guidance requires an entity to classify all deferred tax liabilities and assets, along with any valuation allowance, as noncurrent in the balance sheet. The guidance is effective for public companies with annual reporting periods beginning after December 15, 2016, including interim periods within these reporting periods. Early adoption is permitted. The Company has elected to early adopt ASU 2015-17 during the year ended December 31, 2015 with retrospective application. The adoption of ASU 2015-17 did not have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810)". This ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate consolidation of certain legal entities by reducing the number of consolidation models from four to two and is intended to improve current GAAP. The amendments in the ASU are effective beginning after December 15, 2016. The adoption of this guidance should not have a material effect on the Company's financial condition or results of operations. In January 2015, the FASB issued ASU 2015-01, "Income Statement — Extraordinary and Unusual Items (Subtopic 225-20)". This ASU eliminates extraordinary items from US GAAP and will align more closely with International Accounting Standards 1, "Presentation of Financial Statements". The amendments in the ASU are effective beginning after December 15, 2015. The adoption of this guidance should not have a material effect on the Company's financial condition or results of operations. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern. Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management's plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for the reporting periods beginning after December 15, 2016 and early application is permitted. Management is currently assessing the impact the adoption of ASU 2014-15 will have on our consolidated financial statements.

Note 3. Summary of Significan21

Note 3. Summary of Significant Accounting Policies: Land Held For Development: Land development costs (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Land development costs	Land development costs, which have been capitalized, consist of the following: Land under development $4,934,323 Licenses 77,000 Engineering and costs associated with permitting 464,774 $5,476,097

Note 3. Summary of Significan22

Note 3. Summary of Significant Accounting Policies: Fair Value Measurements: Schedule of Derivative Liability Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Derivative Liability Reconciliation	The table listed below provides a reconciliation of the beginning and ending net balances for the derivative liability measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31, 2015 and 2014: 2015 2014 Beginning balance $3,754,233 $- Total change in unrealized appreciation (depreciation) included in net assets (2,049,663) 1,904,233 Purchases, other settlements and issuances, net - 1,850,000 Ending balance $1,704,570 $3,754,233

Note 3. Summary of Significan23

Note 3. Summary of Significant Accounting Policies: Net Earnings (loss) Per Common Share: Schedule of Components of Potential Dilutive Securities (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Components of Potential Dilutive Securities	The table below summarizes the components of potential dilutive securities at December 31, 2015 and 2014. December 31, December 31, Description 2015 2014 Convertible Preferred Stock 260,000 260,000 Options to Purchase Common Shares 3,440,000 3,440,000 Private Placement Warrants 1,661,500 3,036,500 Convertible Promissory Notes 1,925,000 1,925,000 Total 7,286,500 8,661,500

Note 4. Accounts Payable and 24

Note 4. Accounts Payable and Accrued Expenses: Schedule of Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Accounts Payable and Accrued Expenses	The table below outlines the elements included in accounts payable and accrued expenses at December 31, 2015 and 2014: December 31, December 31, Description 2015 2014 Related Parties: Accrued payroll due officers 1,469,711 1,288,136 Accrued interest due officers 382,976 270,166 Accrued director fees 221,250 131,250 Base rents due to the President 49,622 40,554 Associated rental costs 32,141 22,047 Other 17,308 17,308 Total Related Parties 2,173,008 1,769,461 Non-Related Parties: Accrued interest 994,379 756,405 Accrued dividends 457,200 355,600 Accrued fines and penalties 232,849 142,603 Other accounts payable and accrued expenses 214,976 280,410 Total Non-related Parties 1,899,404 1,535,018 Total accounts payable and accrued expenses 4,072,412 3,304,479

Note 5. Notes Payable_ Schedule

Note 5. Notes Payable: Schedule of Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Notes Payable	The table below summarizes the Company's notes payable at December 31, 2015 and 2014: Gross Amount Loan Facility Owed Line of Credit $1,000,000 Private Placements: March 1, 2010 475,000 October 25, 2010 487,500 Total Private Placements 962,500 Total Note Payable $1,962,500

Note 6. Convertible Debenture26

Note 6. Convertible Debentures and Derivative Liability: Schedule of Derivative Liabilities at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Derivative Liabilities at Fair Value	The estimated December 31, 2015 December 31, 2014 Tranche 1 $893,731 $2,014,733 Tranche 2 810,839 1,739,500 Derivative Liability $1,704,570 $3,754,233

Note 8. Stockholders' Equity_ S

Note 8. Stockholders' Equity: Schedule of the Company's Fixed Plan and Non-plan Options (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of the Company's Fixed Plan and Non-plan Options	A summary of the status of the Company's fixed Plan and non-plan options as of December 31, 2015 and 2014, and changes during the years ended December 31, 2015 and 2014 is presented below. December 31, 2015 December 31, 2014 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at beginning of year 3,440,000 $.44 3,440,000 $.44 Granted - - - - Exercised - - - - Expired - - - - Outstanding at end of year 3,440,000 $.44 3,440,000 $.44 Options exercisable at year-end 3,440,000 3,440,000 Weighted-average fair value of options granted during the year $ .00 $.00

Note 8. Stockholders' Equity_28

Note 8. Stockholders' Equity: Schedule of Stock Options Outstanding and Exercisable (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Stock Options Outstanding and Exercisable	The following tables summarize information about stock options outstanding and exercisable at December 31, 2015 and 2014: December 31, 2015 Options Outstanding Options Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/15 Life (Yrs.) Price 12/31/15 Price $.19 2,000,000 2.20 $.19 2,000,000 $.19 $.30 750,000 2.20 .30 750,000 .30 $.75 240,000 2.20 .75 240,000 .75 $1.25 150,000 2.20 1.25 150,000 1.25 $1.75 300,000 (a) 1.75 300,000 1.75 3,440,000 3,440,000 December 31, 2014 Options Outstanding Options Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/14 Life (Yrs.) Price 12/31/14 Price $.19 2,000,000 3.20 $.19 2,000,000 $.19 $.30 750,000 .82 .30 750,000 .30 $.75 240,000 .82 .75 240,000 .75 1.25 150,000 .82 1.25 150,000 1.25 $1.75 300,000 (a) 1.75 300,000 1.75 3,440,000 3,440,000

Note 8. Stockholders' Equity_29

Note 8. Stockholders' Equity: Schedule of Warrant Activity (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Warrant Activity	A summary of the status of the Company's outstanding warrants as of December 31, 2015 and 2014, and changes during the years ended on December 31, 2015 and 2014 is presented below. December 31, 2015 December 31, 2014 Weighted Weighted Average Average Exercise Exercise Shares Price Shares Price Outstanding at beginning of year 3,036,500 $.740 2,986,500 $.750 Granted - 50,000 .375 Exercised - - Expired 1,375,000 1.000 - Outstanding at end of year 1,661,500 $.525 3,036,500 $.740 Warrants exercisable at year-end 1,661,500 3,036,500 Weighted-average fair value of warrants granted during the year $0 $.375

Note 8. Stockholders' Equity_30

Note 8. Stockholders' Equity: Schedule of Warrants Outstanding and Exercisable (Tables)	12 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Warrants Outstanding and Exercisable	The following tables summarize information about warrants outstanding and exercisable at December 31, 2015 and 2014: December 31, 2015 Warrants Outstanding Warrants Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/15 Life (Yrs.) Price 12/31/15 Price $.25 1,011,500 1.82 .25 1,011,500 .25 $ .30 25,000 1.25 .30 25,000 .30 $ .45 25,000 2.00 .45 25,000 .45 $1.00 600,000 .11 1.00 600,000 1.00 1,661,500 1,661,500 December 31, 2014 Warrants Outstanding Warrants Exercisable Weighted- Number Average Weighted Number Weighted- Range of Outstanding Remaining Average Exercisable Average Exercise At Contractual Exercise At Exercise Prices 12/31/14 Life (Yrs.) Price 12/31/14 Price $.25 1,011,500 2.82 .25 1,011,500 .25 $.30 25,000 2.25 .30 25,000 .30 $.45 25,000 3.00 .45 25,000 .45 $1.00 1,975,000 .65 1.00 1,975,000 1.00 3,036,500 3,036,500

Note 1. Organization and Busi31

Note 1. Organization and Business (Details)	Dec. 31, 2015a
Details
Area of Land, owned	404.5

Note 2. Liquidity and Going C32

Note 2. Liquidity and Going Concern (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Details
NET INCOME (LOSS) APPLICABLE TO COMMON STOCKHOLDERS	$ 53,242	$ (3,377,375)
Change in fair value of derivative liability	2,049,663	(1,904,233)
Total accounts payable and accrued expenses	4,072,412	3,304,479
Cash	$ 15,655	$ 843,083	$ 7,106

Note 3. Summary of Significan33

Note 3. Summary of Significant Accounting Policies: Land Held For Development: Land development costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Land under development	$ 4,934,323
Licenses	77,000
Engineering and costs associated with permitting	464,774
Land held for development	$ 5,476,097	$ 5,476,097

Note 3. Summary of Significan34

Note 3. Summary of Significant Accounting Policies: Fair Value Measurements: Schedule of Derivative Liability Reconciliation (Details) - Derivative Financial Instruments, Liabilities - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Beginning balance	$ 3,754,233	$ 0
Total decrease in unrealized appreciation (depreciation) included in net assets	(2,049,663)	1,904,233
Purchases, other settlements and issuances, net	0	1,850,000
Ending balance	$ 1,704,570	$ 3,754,233

Note 3. Summary of Significan35

Note 3. Summary of Significant Accounting Policies: Employee Stock Ownership Plan (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
ESOP shares returned to treasury	79,545	79,545

Note 3. Summary of Significan36

Note 3. Summary of Significant Accounting Policies: Net Earnings (loss) Per Common Share (Details)	12 Months Ended
	Dec. 31, 2015shares
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,055,555

Note 3. Summary of Significan37

Note 3. Summary of Significant Accounting Policies: Net Earnings (loss) Per Common Share: Schedule of Components of Potential Dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Convertible Preferred Stock	260,000	260,000
Options to Purchase Common Shares	3,440,000	3,440,000
Private Placement Warrants	1,661,500	3,036,500
Convertible Promissory Notes	1,925,000	1,925,000
Total	7,286,500	8,661,500

Note 3. Summary of Significan38

Note 3. Summary of Significant Accounting Policies: Stock Based Compensation (Details) - Employee Stock Option	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Fair Value Assumptions, Method Used	Black-Scholes option-pricing model
Dividend yield	0.00%
Expected volatility	209.00%
Allocated Share-based Compensation Expense | $	$ 295,222
Increase (decrease) in loss per share attributable to share based compensation	$ (0.008)
Minimum
Risk-free interest rate	0.03%
Maximum
Risk-free interest rate	0.97%
President | Award 1
Deferred Compensation Arrangement with Individual, Shares Issued | shares	750,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.30
President | Award 2
Deferred Compensation Arrangement with Individual, Shares Issued | shares	75,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.75
Board of Directors Chairman
Deferred Compensation Arrangement with Individual, Shares Issued | shares	150,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 1.25
Director
Deferred Compensation Arrangement with Individual, Shares Issued | shares	75,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.75
Former Employees and Honorary Director
Deferred Compensation Arrangement with Individual, Shares Issued | shares	90,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.75

Note 4. Accounts Payable and 39

Note 4. Accounts Payable and Accrued Expenses: Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Details
Accrued payroll due officers	$ 1,469,711	$ 1,288,136
Accrued interest due officers	382,976	270,166
Accrued director fees	221,250	131,250
Base rents due to the President	49,622	40,554
Associated rental costs	32,141	22,047
Other	17,308	17,308
Total Related Parties	2,173,008	1,769,461
Accrued interest	994,379	756,405
Accrued dividends	457,200	355,600
Accrued fines and penalties	232,849	142,603
Other accounts payable and accrued expenses	214,976	280,410
Total Non-related Parties	1,899,404	1,535,018
Total accounts payable and accrued expenses	$ 4,072,412	$ 3,304,479

Note 5. Notes Payable (Details)

Note 5. Notes Payable (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jul. 31, 2011	Oct. 31, 2008	Dec. 31, 2015	Dec. 31, 2014	Oct. 25, 2010	Mar. 01, 2010	Dec. 31, 2009	Oct. 23, 2008
Line of Credit Facility, Maximum Borrowing Capacity								$ 1,000,000
Notes and line of credit payable (Note 5)			$ 1,962,500	$ 1,962,500
Line of Credit
Debt Instrument, Interest Rate, Stated Percentage								9.00%
Debt Instrument, Maturity Date		Nov. 1, 2012
Long-term Line of Credit							$ 1,000,000
Notes and line of credit payable (Note 5)			$ 1,000,000
Line of Credit | Employee Stock Option | October 23, 2008
Options, Granted			50,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value			$ 1.75
Line of Credit | Employee Stock Option | October 23, 2008 - 2
Options, Granted			250,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value			$ 1.75
Convertible Promissory Note
Notes and line of credit payable (Note 5)			$ 962,500
Convertible Promissory Note | March 1, 2010 Private Placement
Debt Instrument, Face Amount			25,000
Interest Expense, Debt			$ 0.1200
Warrants per unit			50,000
Warrant Exercise Price			$ 1
Debt Instrument, Convertible, Conversion Price			$ 50,000
Notes and line of credit payable (Note 5)			$ 475,000			$ 450,000
Convertible Promissory Note | March 1, 2010 Private Placement | Director
Notes and line of credit payable (Note 5)						$ 25,000
Convertible Promissory Note | October 25, 2010 Private Placement
Debt Instrument, Face Amount			25,000
Interest Expense, Debt			$ 0.0900
Warrants per unit			50,000
Warrant Exercise Price			$ 1
Debt Instrument, Convertible, Conversion Price			$ 50,000
Notes and line of credit payable (Note 5)			$ 487,500		$ 512,500
Debt Conversion, Original Debt, Amount	$ 25,000
Warrant, Outstanding			600,000
Convertible Promissory Note | October 25, 2010 Private Placement | Common Stock
Debt Conversion, Converted Instrument, Shares Issued	50,000

Note 5. Notes Payable_ Schedu41

Note 5. Notes Payable: Schedule of Notes Payable (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Oct. 25, 2010	Mar. 01, 2010
Notes and line of credit payable (Note 5)	$ 1,962,500	$ 1,962,500
Line of Credit
Notes and line of credit payable (Note 5)	1,000,000
Convertible Promissory Note
Notes and line of credit payable (Note 5)	962,500
Convertible Promissory Note | March 1, 2010 Private Placement
Notes and line of credit payable (Note 5)	475,000			$ 450,000
Convertible Promissory Note | October 25, 2010 Private Placement
Notes and line of credit payable (Note 5)	$ 487,500		$ 512,500

Note 6. Convertible Debenture42

Note 6. Convertible Debentures and Derivative Liability (Details)	1 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2014USD ($)	Feb. 28, 2014	Sep. 30, 2015	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Mar. 31, 2014USD ($)
Amortization of debt discount				$ 46,886	$ 22,254
Change in fair value of derivative liability				(2,049,663)	1,904,233
Accrued interest	$ 756,405			$ 994,379	756,405
Tranche 1
Unamortized discount						$ 1,000,000
Debt Instrument, Maturity Date				Mar. 31, 2020
Tranche 2
Unamortized discount						$ 850,000
Debt Instrument, Maturity Date				Dec. 31, 2020
Convertible Debt Securities
Unamortized discount	$ 1,778,859			$ 1,733,157	1,778,859
Amortization of debt discount				45,702	$ 21,141
Accrued interest				57,000
Convertible Debt Securities | February 14, 2014 Private Placement
Maximum Offering Amount				$ 3,000,000
Debt Instrument, Interest Rate, Stated Percentage				4.00%
Debt Instrument, Maturity Date, Description				mature six years from the date of issuance
Convertible Debt Securities | February 14, 2014 Private Placement | Derivative Financial Instruments, Liabilities
Fair Value Measurements, Valuation Techniques				Monte Carlo models
Fair Value Assumptions, Expected Volatility Rate			132.00%		172.00%
Convertible Debt Securities | February 14, 2014 Private Placement | Maximum | Derivative Financial Instruments, Liabilities
Fair Value Inputs, Discounted Bond Rates				7.07%	9.85%
Convertible Debt Securities | February 14, 2014 Private Placement | Minimum | Derivative Financial Instruments, Liabilities
Fair Value Inputs, Discounted Bond Rates				6.45%	5.78%
Convertible Debt Securities | February 14, 2014 Private Placement | Tranche 1
Maximum Offering Amount				$ 1,000,000
Debt Instrument, Convertible, Number of Equity Instruments	3,166,666	3,333,333
Debt Instrument, Convertible, Conversion Price | $ / shares				$ 0.30
Investors that consented to amended conversion terms, amount of offering	$ 950,000				$ 950,000
Investors that did not consent to amended conversion terms, amount of offering	$ 50,000				50,000
Convertible Debt Securities | February 14, 2014 Private Placement | Tranche 2
Maximum Offering Amount				$ 1,000,000
Debt Instrument, Convertible, Number of Equity Instruments	1,888,889	2,222,222
Debt Instrument, Convertible, Conversion Price | $ / shares				$ 0.45
Investors that consented to amended conversion terms, amount of offering	$ 850,000				850,000
Investors that did not consent to amended conversion terms, amount of offering	$ 300,000				300,000
Convertible Debt Securities | February 14, 2014 Private Placement | Tranche 3
Maximum Offering Amount				$ 1,000,000
Convertible Debt Securities | February 14, 2014 Private Placement | Tranche 3 | Maximum
Debt Instrument, Convertible, Number of Equity Instruments				1,818,182
Debt Instrument, Convertible, Conversion Price | $ / shares				$ 0.75
Convertible Debt Securities | February 14, 2014 Private Placement | Tranche 3 | Minimum
Debt Instrument, Convertible, Number of Equity Instruments				1,333,333
Debt Instrument, Convertible, Conversion Price | $ / shares				$ 0.55
Non-convertible Debenture
Amortization of debt discount				$ 1,184	$ 1,113

Note 6. Convertible Debenture43

Note 6. Convertible Debentures and Derivative Liability: Schedule of Derivative Liabilities at Fair Value (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Derivative Liability, Current	$ 1,704,570	$ 3,754,233
Tranche 1
Derivative Liability, Current	893,731	2,014,733
Tranche 2
Derivative Liability, Current	$ 810,839	$ 1,739,500

Note 7. Related Party Transac44

Note 7. Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accrued payroll due officers	$ 1,469,711	$ 1,288,136
Accrued interest	994,379	756,405
Associated rental costs	32,141	22,047
Accrued director fees	221,250	131,250
Office Space Lease
Debt Instrument, Periodic Payment	4,534
Base rent expense	54,408	54,408
Associated rental costs	12,983	15,940
Operating Leases, Rent Expense, Net	67,391	70,348
Payments for Rent	45,340	140,806
Associated rental costs	9,068
President
Accrued payroll due officers	1,266,996
Vice President
Accrued payroll due officers	121,140
Management
Accrued interest	382,976	$ 270,166
Director
Directors Fees	$ 15,000

Note 8. Stockholders' Equity (D

Note 8. Stockholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 1993	Dec. 31, 2014	Dec. 19, 1988
Preferred stock, par or stated value	$ 0.01		$ 0.01
Preferred stock, shares outstanding	2,086,000		2,086,000
Common Stock & Series S-PIK Preferred Stock Unit
Number of Shares Authorized	1,000,000
Share Price	$ 5.50
Preferred Stock | Series S Preferred Stock
Stock Issued During Period, Shares, New Issues		926,000
Preferred stock, par or stated value	$ 0.01
Proceeds from Issuance of Preferred Stock		$ 1,000,080
Preferred Stock, Dividend Rate, Percentage	3.00%
Preferred Stock, Redemption Terms	These shares may be redeemed at the option of the Company at $1.08 per share plus $.0108 per share for each quarter that such shares are outstanding.
Liquidation preference	$ 1.08
Preferred stock, shares outstanding	926,000		926,000
Cumulative Dividends	$ 135,000		$ 105,000
Preferred Stock | Series S-NR Preferred Stock
Stock Issued During Period, Shares, New Issues		900,000
Preferred stock, par or stated value	$ 0.01
Proceeds from Issuance of Preferred Stock		$ 999,000
Preferred Stock, Dividend Rate, Percentage	3.00%
Liquidation preference	$ 1.11
Preferred stock, shares outstanding	900,000		900,000
Preferred Stock | Series S-PIK Preferred Stock
Preferred stock, par or stated value	$ 0.01
Liquidation preference	$ 2
Preferred stock, shares outstanding	260,000		260,000
Cumulative Dividends	$ 187,200		$ 145,600
Convertible Preferred Stock, Terms of Conversion	Each share of Series S-PIK preferred stock is convertible into one share of the Company's common voting stock at any time after February 15, 1995.
Preferred Stock, Dividend Rate, Per-Dollar-Amount	$ 0.04
Common Stock
Preferred stock, par or stated value	$ 0.001
Stock Option Plan
Number of Shares Authorized				1,000,000
Options, Outstanding	0
Employee Stock Option | President | Award 1
Deferred Compensation Arrangement with Individual, Shares Issued	750,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.30
Employee Stock Option | President | Award 2
Deferred Compensation Arrangement with Individual, Shares Issued	75,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.75
Employee Stock Option | Board of Directors Chairman
Deferred Compensation Arrangement with Individual, Shares Issued	150,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 1.25
Employee Stock Option | Director
Deferred Compensation Arrangement with Individual, Shares Issued	75,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.75
Employee Stock Option | Former Employees and Honorary Director
Deferred Compensation Arrangement with Individual, Shares Issued	90,000
Deferred Compensation Arrangement with Individual, Exercise Price	$ 0.75

Note 8. Stockholders' Equity_46

Note 8. Stockholders' Equity: Schedule of the Company's Fixed Plan and Non-plan Options (Details) - Fixed Plan and Non-Plan Options - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Options, Outstanding, Beginning Balance	3,440,000	3,440,000
Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 0.44	$ 0.44
Options, Granted	0	0
Options, Granted, Weighted Average Exercise Price	$ 0	$ 0
Options, Exercised	0	0
Options, Exercise, Weighted Average Exercise Price	$ 0	$ 0
Options, Expired	0	0
Options, Expired, Weighted Average Exercise Price	$ 0	$ 0
Options, Outstanding, Ending Balance	3,440,000	3,440,000
Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 0.44	$ 0.44
Options, Exercisable, Ending Balance	3,440,000	3,440,000
Weighted-average fair value of options granted during the year	$ 0	$ 0

Note 8. Stockholders' Equity_47

Note 8. Stockholders' Equity: Schedule of Stock Options Outstanding and Exercisable (Details) - Fixed Plan and Non-Plan Options - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Number Outstanding	3,440,000	3,440,000
Number of Exercisable Options	3,440,000	3,440,000
$.19
Number Outstanding	2,000,000	2,000,000
Outstanding Options, Weighted Average Exercise Price	$ 0.19	$ 0.19
Number of Exercisable Options	2,000,000	2,000,000
Exercisable Options, Weighted Average Exercise Price	$ 0.19	$ 0.19
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	2 years 2 months 12 days	3 years 2 months 12 days
$.30
Number Outstanding	750,000	750,000
Outstanding Options, Weighted Average Exercise Price	$ 0.30	$ 0.30
Number of Exercisable Options	750,000	750,000
Exercisable Options, Weighted Average Exercise Price	$ 0.30	$ 0.30
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	2 years 2 months 12 days	9 months 25 days
$.75
Number Outstanding	240,000	240,000
Outstanding Options, Weighted Average Exercise Price	$ 0.75	$ 0.75
Number of Exercisable Options	240,000	240,000
Exercisable Options, Weighted Average Exercise Price	$ 0.75	$ 0.75
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	2 years 2 months 12 days	9 months 25 days
$ 1.25
Number Outstanding	150,000	150,000
Outstanding Options, Weighted Average Exercise Price	$ 1.25	$ 1.25
Number of Exercisable Options	150,000	150,000
Exercisable Options, Weighted Average Exercise Price	$ 1.25	$ 1.25
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	2 years 2 months 12 days	9 months 25 days
$ 1.75
Number Outstanding	300,000	300,000
Outstanding Options, Weighted Average Exercise Price	$ 1.75	$ 1.75
Number of Exercisable Options	300,000	300,000
Exercisable Options, Weighted Average Exercise Price	$ 1.75	$ 1.75

Note 8. Stockholders' Equity_48

Note 8. Stockholders' Equity: Schedule of Warrant Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Warrants, Outstanding, Beginning Balance	3,036,500	2,986,500
Warrants, Outstanding, Beginning Balance, Weighted Average Exercise Price	$ 0.740	$ 0.750
Warrants, Granted	0	50,000
Warrants, Granted, Weighted Average Exercise Price	$ 0	$ 0.375
Warrants, Exercised	0	0
Warrants, Expired	1,375,000	0
Warrants, Expired, Weighted Average Exercise Price	$ 1
Warrants, Outstanding, Ending Balance	1,661,500	3,036,500
Warrants, Outstanding, Ending Balance, Weighted Average Exercise Price	$ 0.525	$ 0.740
Warrants, Exercisable	1,661,500	3,036,500

Note 8. Stockholders' Equity_49

Note 8. Stockholders' Equity: Schedule of Warrants Outstanding and Exercisable (Details) - Warrant - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Number Outstanding	1,661,500	3,036,500
Number of Exercisable Options	1,661,500	3,036,500
$.25
Number Outstanding	1,011,500	1,011,500
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	1 year 9 months 25 days	2 years 9 months 25 days
Outstanding Options, Weighted Average Exercise Price	$ 0.25	$ 0.25
Number of Exercisable Options	1,011,500	1,011,500
Exercisable Options, Weighted Average Exercise Price	$ 0.25	$ 0.25
$.30
Number Outstanding	25,000	25,000
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	1 year 3 months	2 years 3 months
Outstanding Options, Weighted Average Exercise Price	$ 0.30	$ 0.30
Number of Exercisable Options	25,000	25,000
Exercisable Options, Weighted Average Exercise Price	$ 0.30	$ 0.30
$.45
Number Outstanding	25,000	25,000
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	2 years	3 years
Outstanding Options, Weighted Average Exercise Price	$ 0.45	$ 0.45
Number of Exercisable Options	25,000	25,000
Exercisable Options, Weighted Average Exercise Price	$ 0.45	$ 0.45
$ 1
Number Outstanding	600,000	1,975,000
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs)	1 month 10 days	7 months 24 days
Outstanding Options, Weighted Average Exercise Price	$ 1	$ 1
Number of Exercisable Options	600,000	1,975,000
Exercisable Options, Weighted Average Exercise Price	$ 1	$ 1

Note 9. Employee Stock Owners50

Note 9. Employee Stock Ownership Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Employee Stock Ownership Plan (ESOP), Number of Unearned Shares	2,306,825	2,386,370
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value	$ 346,024
Employee Stock Ownership Plan (ESOP), Deferred Shares		$ 1,128,753
ESOP shares returned to treasury	79,545	79,545
ESOP Plan
Debt Instrument, Interest Rate, Stated Percentage	8.00%

Note 10. Income Taxes (Details)

Note 10. Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards	$ 13,200,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%
Deferred Tax Assets, Valuation Allowance	$ 4,600,000	$ 4,400,000
Effective Income Tax Rate	0.00%
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 200,000	$ 300,000
Maximum
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2035

Note 11. Commitments and Cont52

Note 11. Commitments and Contingencies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Operating agreement description for CAMC	provides for the payment of an annual operational term management fee of 1.2% of all gross gaming revenues between zero and $100,000,000; plus 0.75% of gross gaming revenue between $100,000,000 and $140,000,000; plus 0.5% of gross gaming revenue above $140,000,000; plus two percent of the net gaming revenue between zero and $25,000,000; plus three percent of the net gaming revenue above twenty-five million dollars $25,000,000
Employee Stock Ownership Plan Penalties	$ 90,246	$ 57,305
Employee Stock Ownership Plan Cumulative Potential Penalties	232,800
Collateralized Convertible Senior Debentures | Investor
Lien Amount	1,850,000
Collateralized Convertible Senior Debentures | Investor | Tranche 1
Debt Instrument, Face Amount			$ 1,000,000
Collateralized Convertible Senior Debentures | Investor | Tranche 2
Debt Instrument, Face Amount		850,000
Collateralized Convertible Senior Debentures | Management
Lien Amount	2,000,000
Office Space Lease
Debt Instrument, Periodic Payment	4,534
Base rent expense	54,408	54,408
Operating Leases, Rent Expense, Net	$ 67,391	$ 70,348

Note. 12 Pending and Threaten53

Note. 12 Pending and Threatened Litigation (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
College Health & Investment, L.P. v. Diamondhead Casino Corporation
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Debt Instrument, Maturity Date	Mar. 25, 2012
College Health & Investment, L.P. v. Diamondhead Casino Corporation | Principal
Loss Contingency, Damages Sought, Value	$ 150,000
College Health & Investment, L.P. v. Diamondhead Casino Corporation | Interest
Loss Contingency, Damages Sought, Value	45,000
College Health & Investment, L.P. v. Diamondhead Casino Corporation 2
Loss Contingency, Damages Sought, Value	150,000
College Health & Investment, L.P. v. Edson R. Arneault, Deborah A. Vitale, Gregory A. Harrison, Martin Blount and Benjamin Harrell
Loss Contingency, Damages Sought, Value	150,000
United States Bankruptcy Court
Loss Contingency, Damages Sought, Value	$ 237,500
College Health & Investment, L.P.
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	5.00%

Note 13. Subsequent Event (Deta

Note 13. Subsequent Event (Details) - Subsequent Event	3 Months Ended
	Mar. 31, 2016USD ($)
Proceeds from Notes Payable	$ 42,500
Debt Instrument, Interest Rate, Stated Percentage	8.00%
Director
Proceeds from Notes Payable	$ 25,000