Note E - Stockholders' Equity: Preferred Stock (Policies) |
12 Months Ended |
|---|---|
Dec. 31, 2013 | |
| Policies | |
| Preferred Stock | Preferred stock
Our Articles of Incorporation provide that we may issue up to 10,000,000 shares of preferred stock. Subject to the requirements of the Colorado Business Corporation Act, the Board of Directors may issue the preferred stock in series with rights and preferences as the Board of Directors may determine appropriate, without shareholder approval. As of December 31, 2013, 4,500,000 shares of our Series B Preferred Stock have been authorized for issuance, of which 80,000 were issued and outstanding. These 80,000 Series B shares are convertible at our option into 40,000 common shares. |