n large bowl, cream Butter. Add Sugar and beat until fluffy. Add Egg and Vanilla; mix well. Combine Flour, Cocoa, Baking Soda, Baking Powder and Salt; gradually add dry mixture to butter mixture, beating well. Chill dough, if necessary, for easy handling.
Shape into 1 inch balls and place about 2 inches apart on ungreased cookie sheet. Make a deep thumbprint in center of each ball. Drain Cherries, reserving the juice. Place a cherry in each thumbprint.
In a small sauce pan, combine Chocolate Chips and Condensed Milk; stir over low heat until chocolate is melted. Stir in about 4 tsp of reserved cherry juice. Spoon 1 tsp of frosting over each cherry, covering completely.
Bake @ 350° for 10-12 minutes until edges are firm.