COMMON STOCK | 9 Months Ended |
Sep. 30, 2014 |
Notes to Financial Statements | ' |
NOTE 9 - COMMON STOCK | ' |
On January 16, 2014, a former officer and shareholder assigned 650 shares of preferred stock from his holdings of 750 shares allocating 452 shares to two (2) members of management, 100 shares to its Chairman of the Board and 98 shares to a family member. |
|
On January 28, 2014, in exchange for a reduction of debt of the Company owed to CLSS for a share price of $0.10 per share, the Company issued 3,142,270 shares of restricted common stock to various existing individual shareholders designated by the owner of CLSS. |
|
On February 21, 2014, the Company converted a Convertible Note due to CLSS for $282,740 into 1,323,750 shares restricted at a price per share of $0.2136. |
|
On January 21, 2014, and, in connection with a Securities Purchase Agreement and convertible promissory note in the principal amount of $50,000, the Company converted the note into a total of 150,000 shares of the Company’s common stock at a conversion price of $0.03 per share. |
|
On February 28, 2014, the Company issued 107,656 shares of common stock to two (2) parties as commissions on the TCA lending financing. |
|
During January 21, 2014 to March 28, 2014, the Company issued a total of 868,921 shares of restricted common stock to four (4) companies in connection with the conversion of convertible debt held. |
|
On March 28, 2014, the Company issued 134,454 shares of common stock as payment of advisory fee to TCA in connection with the TCA lending facility. |
|
From April 1, 2014 to June 30, 2014, the Company issued a total of 869,333 shares of common stock to six (6) companies in connection with the conversion of convertible debt held. |
|
On April 28, 2014 and May 16, 2014, the Company converted a total of $362,353 portions of a Convertible Note due CLSS totaling $539,491 into 1,152,394 shares restricted at a prices ranging from $0.25 to $0.45. |
|
During April and May 2014, pursuant to portions of Convertible Notes due to CLSS, the holder assigned to three (3) third parties the principal amounts totaling $140,000. These three notes were converted on April 24, 2014, May 5, 2014 and May 21, 2014 into a total of 400,000 shares. |
|
On June 9, 2014 the Company issued 182,500 shares of restricted common stock at a price of $0.41 per share to a third party as payment for services related to investor relations. |
|
On June 11, 2014, the Company issued 584,724 shares of restricted common stock to a former officer and a shareholder at a price per share of $0.25 in settlement of $145,596 of unpaid and accrued salaries. |
|
From July 1, 2014 through September 30, 2014, the Company issued a total of 2,430,722 shares of restricted common stock to a former officer and shareholder at prices per share ranging from $0.04 to $0.25 in settlement of $211,365 of unpaid and accrued salaries. |
|
On July 25, 2014, the Company issued 2,904,163 shares of restricted common stock to an officer of the Company in connection with the partial conversion of convertible stock held. |
|
On August 29, 2014 and September 17, 2014, the Company issued a total of 400,000 shares of restricted common stock to two (2) consultants as payment for financial and investor relations services. |
|
On August 29, 2014, the Company converted a portion of Convertible Note due to CLSS for $313,000 into 864,480 shares restricted at a price per share of $0.082. |
|
From July 1, 2014 through September 30, 2014, the Company issued a total of 4,349,324 shares to six (6) parties in connection with the conversion of convertible debt held. |