UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
During the three months ended September 30, 2009, the Company issued unregistered shares of its common stock as follows:
·
57,463,901 shares to five (5) creditors who converted $310 598 of debt into equity;
·
3,896,970 shares to three (4) professional service providers for their services. The shares were valued by the Company in total at $21,597;
·
1,000,000 shares to one (1) investor for cash consideration of $9,300; and
·
1,263,158 shares to one (1) lender as an equity incentive to provide a July 2009 $34,900 loan to the Company. The shares were valued by the Company at $12,000.
·
4,529,412 shares to the same lender as an equity incentive to extend the above referenced July 2009 $34,900 loan. The shares were valued by the Company at $24,912.
The securities issuances referred to above were exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended (the "Act").
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For a grand total of 68,153,441 shares
GO GATORS
statements made by me are considered opinions of mine unless those statements are made of facts.
