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Stockholders' Equity Transactions
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6 Months Ended | |||
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Jun. 30, 2012
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| Stockholders' Equity Transactions |
Common Stock As of December 31, 2009, the Company had 23,748,561 shares of common stock issued and outstanding and 1,830,825 shares owed but not issued.
During the year ended December 31, 2010, the Company issued 1,830,825 shares of common stock that was owed but not issued as of December 31, 2009.
During the year ended December 31, 2010, the Company issued 250,000 shares to Directors in lieu of executive compensation. The shares were valued at $170,000 which was market value on the day of the grant.
During the year ended December 31, 2010, the Company issued 231,175 shares of common stock in an exercise of 231,175 warrants at a price of $0.15 for total proceeds of $34,676.
During the year ended December 31, 2010, the Company issued 1,000,000 shares of common stock in conversion of $350,000 of convertible debt at $0.35 per shares. See Note 6 for further details.
During the year ended December 31, 2010, the Company received $155,000 for the purchase of 442,857 shares of common stock and 442,857 warrants with an exercise price of $0.50. As of December 31, 2010, these shares had not been issued and were shown as common stock owed but not issued. The shares were issued in 2011.
During the year ended December 31, 2010, the Company received $15,000 for the exercise of 100,000 warrants to purchase 100,000 shares of common stock. As of December 31, 2010, these shares had not been issued and were shown as common stock owed but not issued. The shares were issued in 2011.
As of December 31, 2010, the Company had 27,060,561 shares of common stock issued and outstanding and 542,856 shares owed but not issued.
During the year ending December 31, 2011, the Company issued 542,856 shares of common stock that were owed but not issued as of December 31, 2010.
During the year ended December 31, 2011, the Company issued 600,000 shares to Directors in lieu of executive compensation. The shares were valued at $306,000 which was market value on the day of the grant.
During the year ended December 31, 2011, the Company issued 100,000 shares of common stock for services. The shares were valued at $51,000, which was market value on the day of the grant.
During the year ended December 31, 2011, the Company issued 200,000 units of equity for cash in the amount of $50,000. Each unit contained one share of common stock and one warrant for a share of common stock at an exercise price of $0.40. The warrants have a term of two years.
During the year ended December 31, 2011, the Company issued 4,363,611 shares of common stock in conversion of $1,090,902 of convertible debt at 0.25 per shares. See Note 6 for further details.
As of December 31, 2011, the Company had 32,867,028 shares outstanding and no shares owed but not issued.
In January of 2012, the Company issued 900,000 shares of common stock in lieu of executive compensation. The shares were valued at $189,000, which was market value on the day of the grant.
In March of 2012, the Company issued 200,000 shares in relation to the conversion of $40.000 of accounts payable balances.
In March of 2012, the Company issued 10,927,289 shares of common stock in conversion of $2,731,822 of convertible debt and accrued interest at $0.25 per share. See Note 6 for further details.
In March of 2012, the Company issued 187,277 shares of common stock in exchange for note payable at $0.25 per share. See Note 6 for further details.
On April 30, 2012, the Company issued 663,232 shares of common stock in conversion of $165,808 of note payables and related accrued interest at $0.25 per share. See Note 6 for further details.
On April 30, 2012, the Company issued 1,725,580 shares of common stock in conversion of $431,395 of convertible debt and related accrued interest at $0.25 per share. See Note 6 for further details. On June 18, 2012, the Company agreed to issue 567,500 shares of common stock in relation to the conversion of $199.470 of accounts payable balances. As of June 30, 2012, these shares had not been issued and are therefore shown on these financial statements as common stock to be issued.
As of June 30, 2012 there are 47,470,406 shares of common stock issued and outstanding and 567,500 shares of common stock owed but not issued.
Warrants As of December 31, 2009, there were 331,175 and 2,857,142 warrants outstanding at an exercise price of $0.15 and $0.50, respectively.
During the year ended December 31, 2009, the Company issued 2,857,142 warrants with a convertible debenture. These warrants have 2 year terms expiring in August and September of 2011 and an exercise price of $0.50. See Note 6 for further details. During the year ended December 31, 2011, these warrants expired.
During the year ended December 31, 2010, a total of 331,175 warrants were exercised into common shares of the Company at a price of $0.15 per share to a total of $49,676.
During the year ended December 31, 2010, the Company issued 442,857 warrants with an exercise price of $0.50 in relation to a stock sale. During the year ended December 31, 2011, these warrants expired.
During the year ended December 31, 2011, the Company issued 200,000 warrants in relation to a stock sale as described above. The warrants have a $0.40 exercise price and a two year life. The warrants expire on November 7, 2013.
No warrants were issued or exercised in the six months ended June 30, 2012.
As of June 30, 2012, there are 200,000 warrants outstanding at an exercise price of $0.40. The warrants expire on November 7, 2013. |