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10) Preferred Stock | 12 Months Ended
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Dec. 31, 2012
Notes |
10) Preferred Stock | 10) PREFERRED STOCK Convertible Preferred Class A Series On June 20, 2010, the Company designated and authorized 100,000 shares of Class A convertible preferred stock (“Class A”). The Class A has no par value, has no liquidation preference and each shares of Class A is convertible into 1,000 shares of common stock at the option of the holder. The Class A stockholders have voting rights equal to the number of common shares, into which the Class A shares are convertible into shares of common stock. The Class A does not provide for any cumulative dividends or any other redemption features outside the control of the Company. Convertible Preferred Class B Series On June 20, 2010, the Company designated and authorized 400,000 shares of Class B convertible preferred stock (“Class B”). The Class B has no par value, has no liquidation preference and each shares of Class B is convertible into 40 shares of common stock at the option of the holder. The Class B stockholders have voting rights equal to the number of common shares, into which the Class B shares are convertible into shares of common stock. The Class B does not provide for any cumulative dividends or any other redemption features outside the control of the Company. Preferred Class C Series On June 20, 2010, the Company designated and authorized 50,000 shares of Class C preferred stock (“Class C”). The Class C has no par value, has no liquidation preference and has no conversion provisions. The Class C stockholders have voting rights at a ratio of 1,000 votes for each Class C share. The Class C does not provide for any cumulative dividends or any redemption features outside the control of the Company.

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References No definition available. + Details
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