erthang: please tell me you're kidding. where do you think our operating cash comes from if we're not selling shares...the ABT upfront payment? LOL. Below is some flavor from the recently filed 10-k of dilutive measures -- look how we're just giving away ownership in the company. The 10Q for Q1 06 is not in yet but you will see when it is that nothing has changed...we have no choice but to sell shares at low prices at this point. That's why it bothers me when anybody, including you, makes light of the share price:
For the year ended December 31, 2005:
a) In December 2005, the Company received subscriptions of $19,712 for 394,244 shares of common stock at $0.05 per share pursuant to the exercise of warrants.
b) In December 2005, the Company received subscriptions of $50,000 for 500,000 shares of common stock at $0.10 per share pursuant to the exercise of warrants.
c) In December 2005, the Company received subscriptions of $16,250 for 325,000 shares of common stock at $0.05 per share pursuant to the exercise of warrants.
d) In December 2005, the Company issued 25,000 shares of common stock for consulting services at a fair value of $22,250.
e) In December 2005, two directors cancelled 1,750,000 options to purchase the Company’s common stock for $1,750.
f) In December 2005, a director cancelled 450,000 warrants to purchase the Company’s common stock for $450.
g) In August 2005, the Company issued 77,266 shares of common stock at $0.75 per share for proceeds of $57,950.
h) In July 2005, the Company issued 20,000 shares of common stock for legal services received at a fair value of $23,000 .
i) In July 2005, the Company entered into a consulting and marketing service agreement for a period of ninety days. The Company issued 50,000 shares of common stock at a fair value of $50,000.
j) In June 2005, the Company issued 600,000 shares of common stock at $0.10 per share pursuant to the exercise of warrants for proceeds of $60,000.
k) In June 2005, the Company issued 4,545 shares of common stock for consulting services at a fair value of $5,000.
l) In June 2005, the Company issued 135,000 shares of common stock at $1.00 per share for proceeds of $135,000.
m) In May 2005, the Company issued 682,714 shares of common stock at $0.21 per share pursuant to the exercise of warrants for proceeds of $143,370.
n) In May 2005, the Company issued 25,000 shares of common stock at $1.00 per share for proceeds of $25,000.
o) In May 2005, the Company issued 15,000 shares of common stock at a fair value at $18,900 to an employee for a performance bonus.
p) In April 2005, an employee exercised 5,000 options to purchase the Company’s common stock for $3,000. The Company received a note receivable for $3,000.
q) In March 2005, the Company issued 213,576 shares of common stock pursuant to the exercise of 272,903 warrants by a note holder. This exercise was based on the cashless exercise provision of the stock purchase warrant.
r) In March 2005, two directors exercised 1,750,000 options to purchase the Company’s common stock for $1,750.
s) In March 2005, a director exercised 450,000 warrants to purchase the Company’s common stock for $450.
t) In March 2005, the Company issued 25,000 shares of common stock at $0.07 per share pursuant to the exercise of stock options for proceeds of $1,750.
u) In March 2005, the Company issued 50,000 shares of common stock at $0.21 per share pursuant to the exercise of warrants for proceeds of $10,500.
v) In March 2005, the Company issued 30,000 shares of common stock at a fair value of $27,000 for consulting services provided.
w) In February 2005, the Company issued 209,000 shares of common stock to seven employees for the exercise of their options at their option price of $0.60. The Company received note receivables totaling $125,400.
x) In February 2005, the Company issued 7,042 shares of common stock at a fair value of $5,000 for consulting services rendered by Pacific.
y) In February 2005, the Company issued 8,450 shares of common stock at a fair value of $6,000 for consulting services received.
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