from most recent 10-Q paying vendors w/shares:
Stock for services:
During fiscal year 2008, we granted 6,595,000 shares of common stock for various services. These shares vested immediately and had an aggregate fair value of $937,600, which was recorded as share-based compensation. The fair value was determined based on the quoted stock price on the date of grant.
During fiscal year 2009, we granted 3,532,059 shares of common stock for various services. These shares vested immediately and had an aggregate fair value of $287,447, which was recorded as share-based compensation. The fair value was determined based on the quoted stock price on the date of grant.
During fiscal year 2010, 9,454,000 common shares have been issued for services valued at $459,246.
The Company retired twenty million shares of common stock effective November 15, 2010. The shares were issued as restricted shares in anticipation of a private financing that never took effect. The certificate for these shares was never out of the personal control of the Company’s management.
In February 2011, the Company amended its Articles of Incorporation authorizing an additional 250,000,000 shares.
Stock for debt
Stock for acquisition
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On December 15, 2008, we purchased 100% of the outstanding shares of FaithTV, LLC. In connection with the acquisition, we issued 1,500,000 shares of common stock, in aggregate, valued at $67,500 based on the Company's quoted stock price. We also issued 100,000 shares of preferred stock valued at $9,000.
Stock for registration rights penalty
On April 17, 2009, we issued 1,191,000 shares of common stock to settle certain registration rights penalty associated with warrants issued in prior years.
