This much we know
As of September 30, 2006, the Company had 97,859,019 shares of common stock issued and outstanding.
And here’s what was issued after that date
Common stock issued on
October 12, 2006 for services
rendered at $0.044 per share -- 355,606
Commons stock issued on
October 13, 2006 as payment
towards convertible securities -- 959,181
Common stock issued on
October 16, 2006 for services
rendered at $0.047 per share -- 400,000
Common stock issued on
October 26, 2006 to officers
for compensation at $0.042
per share -- 6,000,000
Common stock issued on
November 3, 2006 for services
rendered at $0.045 per share -- 125,000
Common stock issued on
December 13, 2006 for
services rendered at $0.041
per share -- -- 3,092,683
Total 10,932,470
So that by the end of 2006:
Common stock, par value $0.001 per share; 200,000,000 shares authorized, 108,791,489 shares issued and outstanding as of December 31, 2006 respectively.
The company has also disclosed in their 10-K that the dilution continued unabated into 2007.
As of March 5, 2007, the Company had 121,270,079 shares of common stock issued and outstanding.
What these additional 13 million shares was used for during the previous quarter we will find out shortly in the delayed 10-Q.
…………and as always “the management believes that these actions will increase the share holders value”…………….
