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Saturday, August 25, 2012 3:33:09 PM
(3)
The Company has also committed to grant an additional 300,000 warrants to this consultant for services to be rendered. The grants will be in increments of 100,000 warrants after 3 months of service, over the course of 1 year. The Company will value these warrants at each grant date. All warrants under the agreement will be fully vested upon grant. Grant dates will be July 2012, October 2012 and January 2013. See also Note 16 (B), Subsequent Events, regarding the July 2012 issuance.
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