InvestorsHub Logo
Followers 0
Posts 80
Boards Moderated 0
Alias Born 08/03/2012

Re: None

Saturday, 08/25/2012 3:30:06 PM

Saturday, August 25, 2012 3:30:06 PM

Post# of 3020
Waiting for .00X here. Dilution machine? You decide!
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8773874
Year Ended December 31, 2011

The Company issued 8,501,918 shares of common stock for $2,875,140 ($0.10 - $1.00/share), net of direct offering costs of $13,478.

The Company issued 5,415,151 shares for $3,249,095 ($0.60/share), net of direct offering costs in the amount of $5,000. The Company also issued the holders one stock purchase warrant with a maturity of 2 years. The exercise price is $1.80 and requires a mandatory conversion by the holder if the market price of the common stock reaches $3.60 for at least ten consecutive trading days. The warrants issued entitled the holders to purchase an additional 5,415,151 shares of the Company’s common stock.

Six Months Ended June 30, 2012

In February 2012, The Company issued 1,500,000 shares for $1,493,100 ($1.00/share), net of direct offering costs of $6,900. The Company also issued the holders one half of one common share stock purchase warrant (750,000 shares) with a maturity of 2 years and 6 months. The exercise price is $1.80 and the Company may accelerate the expiry date of the warrants if the market price of the common stock reaches $4.00 for at least 20 consecutive trading days