Financing Transactions | 9 Months Ended |
Sep. 30, 2013 |
Financing Transactions | ' |
Financing Transactions | ' |
NOTE 9 – FINANCING TRANSACTIONS |
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On July 4, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 5,000,000 shares of common stock at $0.05 per share, for an aggregate purchase price of $250,000. |
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In July 2013, the Company entered into subscription agreements with accredited investors for the issuance of 1,800,000 shares at $0.25 per share together with warrants to purchase 1,500,000 shares at $0.50 per share for an aggregate purchase price of $450,000. The warrants vest immediately and have a term of three years. |
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On August 5, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 200,000 shares at $0.25 per share together with warrants to purchase 50,000 shares at $0.50 per share for an aggregate purchase price of $50,000. The warrants vest immediately and have a term of three years. |
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On August 13, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 800,000 shares at $0.25 per share together with warrants to purchase 200,000 shares at $0.50 per share for an aggregate purchase price of $200,000. The warrants vest immediately and have a term of three years. |
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On August 15, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 120,000 shares at $0.25 per share together with warrants to purchase 30,000 shares at $0.50 per share for an aggregate purchase price of $30,000. The warrants vest immediately and have a term of three years. |
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On August 15, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 400,000 shares at $0.25 per share together with warrants to purchase 400,000 shares at $0.50 per share for an aggregate purchase price of $100,000. The warrants vest immediately and have a term of three years. |
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On August 22, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 1,400,000 shares at $0.25 per share together with warrants to purchase 1,400,000 shares at $0.50 per share for an aggregate purchase price of $350,000. The warrants vest immediately and have a term of three years. |
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On August 30, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 400,000 shares at $0.25 per share together with warrants to purchase 400,000 shares at $0.50 per share for an aggregate purchase price of $100,000. The warrants vest immediately and have a term of three years. |
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On August 31, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 36,000 shares at $0.25 per share together with warrants to purchase 36,000 shares at $0.50 per share for an aggregate purchase price of $9,000. The warrants vest immediately and have a term of three years. |
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On September 2, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 100,000 shares at $0.25 per share together with warrants to purchase 100,000 shares at $0.50 per share for an aggregate purchase price of $25,000. The warrants vest immediately and have a term of three years. |
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On September 3, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 120,000 shares at $0.25 per share together with warrants to purchase 120,000 shares at $0.50 per share for an aggregate purchase price of $30,000. The warrants vest immediately and have a term of three years. |
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On September 5, 2013, the Company entered into subscription agreements with an accredited investor for the issuance of 100,000 shares at $0.25 per share together with warrants to purchase 100,000 shares at $0.50 per share for an aggregate purchase price of $25,000. The warrants vest immediately and have a term of three years. |
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Based on management’s analysis, all warrants granted had no provision within the terms of the warrants that would require derivative treatment. |
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The Company incurred expenses of approximately $10,000 in connection with these equity raises. |