Note 3-Stockholders' Equity | 6 Months Ended |
Jun. 30, 2014 |
Notes | ' |
Note 3-Stockholders' Equity | ' |
Note 3—STOCKHOLDERS’ EQUITY |
|
Common Stock |
|
In April 2014, the Company issued 2,604,167 common shares as per the Equity Purchase Agreement and Securities Purchase Agreement with Premier Venture Partners, LLC valued at $42,969. |
|
In June 2014, the Company issued 2,250,000 common shares to Maximum Harvest LLC as per the Media Agreement signed June 17, 2014. The value of these shares issued was $97,875. |
|
The Company also issued 3,972,500 common shares to various consultants valued at $83,643. |
|
During the six months ended June 30, 2014, the Company issued 2,518,333 to experts per agreements for services rendered, valued at $121,781. |
|
Preferred Stock |
|
In April 2014, the Company issued 125,000 shares of Series A Preferred Stock to ICPI in exchange for $125,000. |
|
Simultaneous with the issuance of Series A Preferred Stock in April 2014, and under the Investment Agreement No. 4 we issued 125,000 warrants to ICPI which entitles its owner to purchase one share of Series A Preferred Stock for each Series A Preferred Stock at an exercise price of $2.00, subject to the terms of the warrant agreement between the warrant agent and us. |
|
In April 2014, the Company issued 145,000 shares of Series A Preferred Stock to ICPI in exchange for $145,000. The Company also simultaneously issued 150,000 warrants to ICPI which entitles its owner to purchase one share of Series A Preferred Stock for each Series A Preferred Stock acquired at an exercise price of $2.00. |
|
In May 2014, the Company issued 40,000 shares of Series A Preferred Stock to ICPI in exchange for $40,000, in accordance with Investment Agreement No. 4 |
|
Simultaneous with the issuance of Series A Preferred Stock in May 2014, and under the Investment Agreement No. 4 we issued 45,000 warrants to ICPI which entitles its owner to purchase one share of Series A Preferred Stock for each Series A Preferred Stock at an exercise price of $2.00, subject to the terms of the warrant agreement between the warrant agent and us. |
|
Warrants |
|
Simultaneous with the issuance of Series A Preferred Stock in the six month period ending June 30, 2014, and under the Investment Agreement No. 4 (March 2014) we issued 270,000 warrants to ICPI which entitles its owner to purchase one share of Series A Preferred Stock for each Series A Preferred Stock at an exercise price of $2.00, subject to the terms of the warrant agreement between the warrant agent and us. The warrants are exercisable five years from the date of issuance. |
|
The following table presents the Series A preferred stock warrant activity during the six months ended June 30, 2014: |
|
| | Warrants | | | Weighted Average Exercise Price | |
| | | | | | | | |
Outstanding - December 31, 2013 | | | 823,226 | | | $ | 2.2 | |
Granted | | | 270,000 | | | | 2 | |
Forfeited/Canceled | | | - | | | | - | |
Exercised | | | 80,000 | | | | - | |
Outstanding – June 30, 2014 | | | 1,013,226 | | | | 2.15 | |
Exercisable – June 30, 2014 | | | 1,013,226 | | | $ | 2.15 | |
|
The weighted average remaining life of the outstanding Series A preferred stock warrants as of June 30, 2014 and December 31, 2013 was 3.74 and 3.92 years, respectively. |
|
The following table presents the common stock warrant activity during the six months ended June 30, 2014: |
|
| | Warrants | | | Weighted Average Exercise Price | |
| | | | | | | | |
Outstanding - December 31, 2013 | | | 5,000,000 | | | $ | 0.05 | |
Granted | | | - | | | | - | |
Forfeited/Canceled | | | - | | | | - | |
Exercised | | | - | | | | - | |
Outstanding – June 30, 2014 | | | 5,000,000 | | | | 0.05 | |
Exercisable – June 30, 2014 | | | 5,000,000 | | | $ | 0.05 | |
|
The weighted average remaining life of the outstanding common stock warrants as of June 30, 2014 and December 31, 2013 was 1.02 and 1.26 years, respectively. |