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cashpoor

02/12/08 11:18 AM

#318 RE: axelvento #317

The number of shares outstanding of the registrant’s Common Stock as of November 2, 2007 was 37,434,881 shares.




STOCKHOLDERS’ DEFICIENCY
Series A Convertible preferred stock, $.01 par value, 3,000,000 shares authorized; 2,134,811 and 1,851,423 shares issued and outstanding, respectively, liquidation preference $2,134,811 and $1,851,423, respectively 21,348 18,514
Series B Convertible preferred stock, $.01 par value, 7,000,000 shares authorized; 1,690,584 and 1,333,432 shares issued and outstanding, respectively, liquidation preference $845,292 and $666,716, respectively 16,906 13,335
Common stock, $.001 par value; 200,000,000 shares authorized; 40,111,881issued and 37,434,881 outstanding in 2007 and 33,767,972 shares issued and 31,090,972 outstanding in 2006 respectively 40,111 33,767
Additional paid-in capital 19,314,345 19,158,556
Deficit accumulated during the development stage (33,469,507 ) (26,401,475 )
Treasury stock, at cost, 2,677,000 and shares issued (2,677 ) (2,677 )