Common Stock
During the year ended December 31, 2006, WGL filed an amended Certificate of Designation, increasing its common stocks from 2,500,000,000 shares to 10,000,000,000 shares.
WGL issued 1,101,911,705 shares to consultants for services and during the year ended December 31,2006. These shares were recorded at the fair market value of $3,266,369 on the date of the consulting agreements and included in general and administrative expenses.
There were no equity transactions during the year ended December 31,2006 and 2005 other than shares issued to consultants for services and exercises of options and warrants by creditors.