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STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2014
STOCKHOLDERS' EQUITY  
STOCKHOLDERS' EQUITY

NOTE 12 - STOCKHOLDERS' EQUITY

 

Preferred and Common Stock – The total number of authorized shares is 95,000,000 shares of common stock and 5,000,000 shares of preferred stock. The preferred stock may be issued in series with such designations, preferences, stated values, rights, qualifications or limitations as determined solely by the Company’s Board of Directors.

 

Stock and Stock Options – On November 12, 2010, the Company’s Board of Directors adopted, and on December 22, 2010, its stockholders approved the Company’s 2010 Incentive Plan (the “Plan”), which gave the Company the ability to grant stock options, restricted stock, stock appreciation rights and performance units to its employees, directors and consultants, or those who will become employees, directors and consultants of the Company and/or its subsidiaries. The Plan currently allows for equity awards of up to 4,000,000 shares of common stock. Through September 30, 2014, there were 175,000 shares of restricted stock granted and outstanding under the Plan. 

 

There were no securities issued from the Plan during the nine months ended September 30, 2014 and at September 30, 2014 there was no unrecognized compensation expense related to securities granted under the Plan.