7. COMMON STOCK

12 Months Ended

Dec. 31, 2011

Stockholders' Equity Note Disclosure [Text Block]

7.	COMMON STOCK

At December 31, 2011, the Company's authorized capital stock was 150,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share. On that date, the Company had outstanding 35,250,391 shares of common stock, and no shares of preferred stock.

2011 Transactions: During the year ended December 31, 2011, the Company issued shares of common stock in the following transactions:

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5,322 shares of common stock to various shareholders of Wow Technologies, Inc. valued at $0.07 to $0.22 per share.

2010 Transactions: During the year ended December 31, 2010, the Company issued shares of common stock in the following transactions:

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6,000,000 shares of common stock for accrued liabilities related to such shares which were granted during the year ended December 31, 2009 to directors, officers and employees of the Company valued at .01 share

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100,000 shares of common stock for services valued at $0.25 per share

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11,430 shares of common stock to shareholders of Wow Technologies, Inc. valued at $0.06 to $0.34 per share.

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1,000 shares of common stock for cash $0.25 per share

All shares issued (or cancelled) for services or in exchange for Wow common stock are valued on the market price on the date issuance.

Warrants:

The Company issued the following warrants at the corresponding weighted average exercise price. As of December 31, 2011,there are no warrants outstanding.

Date of Issuance	Number of Warrants		Exercise Price		Contractual Life	Number of Shares Exercisable
March 21, 2006		12,500		1.50	5 years		12,500
February 13, 2007		12,500		1.50	4 years		12,500
February 8, 2006		30,000		1.50	5 years		30,000
February 17, 2006		30,000		1.50	5 years		30,000
February 13, 2007		49,500		1.50	4 years		49,500

		134,500					134,500

Transactions involving warrants issued in previous years are summarized below:

	Warrants			Weighted average Exercise Price
Issued in 2010		0
Cancelled/Expired in 2010		(0	)
Outstanding as of December 31, 2010		134,500		$	1.50

Issued in 2011		0
Cancelled/Expired in 2011		(134,500	)
Outstanding as of December 31, 2010		0