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8. Loss on Settlement of Debt
9 Months Ended
Sep. 30, 2013
Loss On Settlement Of Debt  
Note 8. Loss on Settlement of Debt

In March 2013, the Company settled a debt incurred in prior year amounting to $147,328 for $85,000 plus a warrant to purchase 150,000 shares of common stock with a fair value of $129,622 (see Note 5 above). As a result, the Company also recognized a loss of $67,294 on the settlement.