XML 24 R10.htm IDEA: XBRL DOCUMENT v2.3.0.15
Common Stock Financing
9 Months Ended
Sep. 30, 2011
Common Stock Financing

NOTE 5 — Common Stock Financing

 

On February 23, 2011, the Company completed the sale of 282,485 shares of its common stock in a private placement with AboCom Systems, Inc., a corporation organized under the laws of Taiwan and a contract manufacturer of the Company’s products. The shares were priced at the closing bid price of $1.77 per share as reported on February 23, 2011 for a total of $499,998 raised in the private placement. The issuance of common stock was used to settle trade payables due to AboCom Systems.