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12. Subsequent events | 12 Months Ended
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Dec. 31, 2012
Subsequent Events [Abstract] |
Note 12. Subsequent events | Increase in Outstanding Shares During the period from January 1, 2013 through February 13, 2013, the Company issued 5,265,496 shares of its common stock. This was comprised of the following: The Company issued 50,000 shares of its common stock per consulting agreement valued at $49,000. The Company issued 5,215,496 shares of its common stock upon exercise of warrants for aggregate proceeds of $1,205,738. Included in these issuances were 3,912,500 shares of common stock issued upon exercise of warrants that contained a reset provision that required these warrants to be accounted for as derivative liability. Upon exercise of these warrants, $3,441,752 of derivative liabilities will be extinguished and accounted for in the first quarter of 2013. Continental Divide Agreement On January 2, 2013, the Company entered into an agreement with Continental Divide, LLC to market the AOT technology as an affiliate of the Company. The term of the agreement is for a period of one year with a monthly fee of $5,000. A copy of this agreement is attached to this report as Exhibit 10.105. Mr. Ryan Zinke, CEO of Continental Divide, LLC is a member of the Company’s Board of Directors.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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