v2.4.0.6
Subsequent Events
3 Months Ended
Mar. 31, 2012
Subsequent Events
10. Subsequent Events

  

In preparing these financial statements, the Company has evaluated events and transactions for potential recognition and disclosure through the date the financial statements were issued.

 

In May of 2012, the holder (the “Holder”) of our 2010 convertible debentures described in Note 6 converted all of the remaining principal and related accrued interest into common stock at $0.25 per share.   A total of $431,395 was converted into 1,725,580 shares of common stock.

 

In May of 2012, Centennial Petroleum Partners, LLC (“CPP”), the holder of the $71,000 demand note described in Note 6 converted the demand note and related accrued interest into common stock at $0.25 per share. A total of $83,140 was converted into 332,561 shares of common stock.

  

In May of 2012, the holder of the $79,980 demand note described in Note 6 converted the note and the related accrued interest into common stock at $0.25 per share.  A total of $82,668 was converted into 330,671 shares of common stock.