Friday, November 07, 2014 12:23:14 PM
As of the date hereof, Mr. Scahill is the beneficial owner of 91,000,000 shares of common stock, representing 28.2% of the Issuer’s outstanding common stock. The shares beneficially owned by Mr. Scahill are (i) 1,000,000 shares owned by him, (ii) 30,000,000 shares issued pursuant to the restricted stock grant pursuant to his restated employment agreement, and (iii) 60,000,000 issuable upon exercise of a warrant to purchase 60,000,000 shares of common stock at an exercise price of $0.004 per share through March 1, 2018.
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