As of March 31, 2007, Gwendolyn Carol Johnson, our Chairman and President, has
received 5,000,000 shares of stock in lieu of her annual 2006 compensation of $300,000.
The issuance was exempt from registration pursuant to Section 4(2) of the Securities Act
of 1933.
Gwendolyn Carol Johnson, our Chairman and President, has invested $495,606 through
December 2005. We issued 9,856,506 shares of stock to her. The issuance was exempt
from registration pursuant to Section 4(2) of the Securities Act of 1933.
Ed Johnson, the spouse of Gwendolyn Carol Johnson, our Chairman, President and CEO,
has invested $1,465,114 through December 2005. We issued 38,546,383 shares of
common stock to him. The issuance was exempt from registration pursuant to Section
4(2) of the Securities Act of 1933.
As of December 2005, we had sold 6,500,000 shares of our common stock to First
Independent Financial Group,our largest shareholder, for a capital infusion of $181,935. The issuance was exempt from registration pursuant to Section 4(2) of the Securities Act
of 1933.
