10Q out, excerpts:
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Note 8 - Equity
The Company is authorized to issue 50,000,000 shares of preferred stock with a par value of $0.001. The preferred stock has voting rights equal to common stock. In January 2014, 1,860,000 shares of preferred stock was issued as part of a private placement.
The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001. Each share has one vote. At March 31, 2014 and, September 30, 2013 the Company has 450,800 shares issued and outstanding.
During the six months ended March 31, 2014, the Company completed a series of private placements of an aggregate of 5,713,200 shares of Series A Preferred Stock to certain foreign investors for an aggregate purchase price of $4,424,000. As of March 31, 2014, the shares have been issued but the proceeds are held in escrow.
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