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Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events:  
Subsequent Events

Note 14 – Subsequent Events

 

In the first quarter of 2014, the Company raised gross proceeds of $240,000 through private placement of 2,400,000 unregistered shares of common stock to accredited investors at $.10 per share.

 

On February 3, 2014, the Company paid $25,000 to George Konrad pursuant to its October 16, 2012 settlement agreement with Mr. Konrad, as amended. On February 7, 2014, the Company entered into a further amendment to the agreement pursuant to which Mr. Konrad agreed to waive all prior defaults under the agreement, as amended, in exchange for the Company’s agreement to either (i) pay $75,000 to him or (ii) issue 1,125,000 shares of common stock to him, by March 31, 2014, in full satisfaction of the Company’s obligations to him.