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Tuesday, May 24, 2016 8:12:04 AM
Total stock-based compensation recognized at March 31, 2016 totaled $49,900, consisting of 60,000 common shares and 47,500 Series C preferred shares. For the three months ended March 31, 2015 total stock-based compensation was recognized at March 31, 2015 of $862,800.
During the three months ended March 31, 2016, 368,526 shares of Series A preferred stock were converted into 2,348,526 common shares and in 2015 275,000 Series A preferred stock were converted into 275,000 common shares, respectively.
During the three months ended March 31, 2016, the Company issued an aggregate of 61,306 Series A Preferred Stock in connection with conversion of $30,652 notes payable with no effect to net loss.
During the three months ended March 31, 2016, the Company sold 71,430 Series C Preferred Stock for $50,001.
The conversion rates for the Preferred Series of Stock are not affected by the stock split.
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