Stockholders' Equity Disclosure | 12 Months Ended |
Dec. 31, 2013 |
Notes | ' |
Stockholders' Equity Disclosure | ' |
NOTE 13. STOCKHOLDERS’ EQUITY |
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The stockholders’ equity of the Company comprises the following classes of capital stock as of December 31, 2013 and December 31, 2012: |
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Common stock, par value of $0.001 per share; 100,000,000 shares authorized; 35,148,456 and 15,050,000 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively. |
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On December 2, 2002, the Company issued 10,930,000 shares (adjusted for stock split and cancelation of shares) of 0.001 par value stock to each of its original two shareholders. On April 15, 2004, the two original shareholders broke out their stock certificates. The original shares were cancelled and the founding two shareholders each retained 42% ownership and an additional 32 shareholders were transferred shares, representing a total of 16% of the original shares outstanding. |
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On December 31, 2007, pursuant to the reorganization agreement 8,450,000 shares were cancelled. |
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On December 31, 2007, the Game Plan Canada shares were exchanged for 11,070,000 of Game Plan USA shares of common stock held by existing shareholders of the Company, resulting in no new share issuance. These 11,070,000 shares were sold for $436,173 in cash by Game Plan Canada during the year ended December 31, 2007. Also, certain shareholders of the Company transferred 2,148,000 shares of the Game Plan USA common stock to its President, Charles Hazzard. On December 31, 2007, all the Game Plan Canada shares were cancelled and all assets held by Game Plan Holdings Canada were assigned to Game Plan Holdings, Inc. |
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During the year ended December 31, 2008, the Company sold a total of 550,000 shares for $387,500 in cash. |
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On July 26, 2011, the Company issued 200,000 shares of restricted common stock for services valued at $90,000 ($0.45 per share). The shares were valued at fair market value on July 26, 2011, the agreement date. |
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On October 15, 2011, the Company issued 200,000 shares of common stock in satisfaction of a subscription payable for services valued at $74,000 ($0.37 per share). The shares were valued at fair market value on September 22, 2011, the agreement date. |
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On October 21, 2011, the Company issued 500,000 shares of common stock for the purchase of www.checkinsave.com valued at $210,000 ($0.42 per share). The shares were valued at fair market value on September 13, 2011, the agreement date. |
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On November 28, 2011, the Company issued 50,000 shares of common stock as payment of a referral fee valued at $18,500 ($0.37 per share). The shares were valued at fair market value on November 28, 2011, the agreement date. |
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During the year ended December 31, 2012, the Company received $50,000 cash as payment for shares issued in a private placement agreement. As of December 31, 2012, the shares have not been issued and the Company has recorded a stock payable in the amount of $50,000. |
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On February 7, 2013, the Company entered into an intellectual property purchase agreement (the “IP Agreement”) with Sportingblood for the acquisition of all rights, title and interest in the Sporting Blood trademark and certain product formulations (the “Intellectual Property”) in exchange for issuing 11,000,000 shares of common stock to Sportingblood. |
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On February 13, 2013, the Company issued 100,000 units for a cash payment of $10,000. Each Unit consists of one share of the Company’s common stock and one purchase warrant. Each warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $0.25 per share for a period of three years from the date of issuance. |
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On February 14, 2013, the Company issued 3,500,000 units valued at $350,000 for a cash payment of $300,000 and $50,000 cash payment received prior to December 31, 2012. Each Unit consists of one share of the Company’s common stock and one purchase warrant. Each warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $0.25 per share for a period of three years from the date of issuance. |
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On February 21, 2013, the Company issued 100,000 units for a cash payment of $10,000. Each Unit consists of one share of the Company’s common stock and one purchase warrant. Each warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $0.25 per share for a period of three years from the date of issuance. |
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On February 25, 2013, the Company issued 2,300,000 units for a cash payment of $230,000. Each Unit consists of one share of the Company’s common stock and one purchase warrant. Each warrant entitles the holder to purchase one additional share of the Company’s common stock at a price of $0.25 per share for a period of three years from the date of issuance. |
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During the year ended December 31, 2013, the terms of certain non-qualified stock options held by three employees were amended so that the stock options vested immediately. After the amendments, one of these employees exercised an option to purchase 20,000 shares of common stock. The other two employees assigned their rights to exercise the options to a relative who immediately exercised her right to purchase all 300,000 shares of common stock that were available. As a result of these activities, the Company issued 320,000 shares of common stock for $80,000 in cash. |
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During the year ended December 31, 2013, portions of a warrant sold in February 2013 to purchase 2,500,000 shares of the Company’s common stock at $0.25 per share were assigned to a number of investors in exchange for their promise to immediately exercise their right to purchase shares of the Company. As a result of these transactions, the Company issued 1,920,000 shares of common stock and recorded 400,000 shares of common stock as stock payable. The Company received a total of $580,000. The 400,000 shares of common stock have not been issued as of date of this filing. |
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During the year ended December 31, 2013, three investors who had purchased units in February 2013 exercised their right to purchase shares of common stock at $0.25 per share. As a result of the exercise of these options, 550,000 shares of common stock were issued for $137,500. |
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During the year ended December 31, 2013, private placements of restricted stock to accredited investors were completed. These private placements were exempt from registration pursuant to Rule 506 of Regulation D of the Securities Act of 1933. The Company placed the stock at an approximately 20% discount to the then market price of the freely traded unrestricted stock. As a result of the private placement, 158,456 shares of common stock were issued for $76,484 in cash was received as of December 31, 2013. |
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On September 13, 2013, the Company issued 150,000 shares of restricted common stock fair valued at $99,000 for acquiring the domain name (gameplan.com) from a third party. |
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During the year ended December 31, 2012, the Company recorded a stock payable in the amount of $22,500 for compensation to the Company’s former Chief Financial Officer. During the year ended December 31, 2013, the Company recorded a stock payable in the amount of $7,500 for compensation to the same officer before she resigned as Chief Financial Officer. As of December 31, 2013, $30,000 has been recorded as stock payable to the former Chief Financial Officer. |
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During the year ended December 31, 2013, the Company recorded a stock payable of 20,000 shares fair valued in the amount of $13,800 for compensation owed under a Sponsorship Agreement dated July 14, 2013. |