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15. SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2012
Subsequent Events [Abstract] |
NOTE 15. SUBSEQUENT EVENTS | During the period from January 1, 2013 to the date of this report, pursuant to private placements, the Company issued 12,291,333 shares of common stock for cash with a per share price of $0.15 per share or $1,843,700 and the Company incurred $147,496 of capital raising fees that were paid in cash and charged to additional paid-in capital. The Company also issued 6,145,667 warrants included in the offering price. Further, as a part of this private placement, the Company issued 614,567 warrants to Allied Beacon, the placement agents. These warrants, valued at $131,145, are exercisable for 5 years at an exercise price of $0.25. There was no financial statement accounting effects for the issuance of these warrants as the value has been fully charged to Additional Paid-in-Capital as an offering cost against the offering proceeds. Prior to December 2012, Jay Potter, our director, was an affiliate of Allied Beacon. In March 2013, the Company issued 250,000 shares of common stock with a per share value of $0.15 (based on contemporaneous cash sales prices) or $37,500, for investor relations services to be rendered over the following six months. The shares were fully vested and will be recorded as a prepaid asset and expensed during the first six months of the agreement. The agreement is for a twelve month period and is cancellable after the first six months if Envision notifies the provider in writing within 30 days of the initial six month period end. The agreement is automatically renewed for successive twelve month periods if not cancelled by Envision within 30 days of the renewal date. The agreement calls for payment of 250,000 shares of common stock at the six month anniversary date of the agreement and an additional 6,000 shares of common stock each quarter.

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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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