As of December 31, 2009, the Company was indebted to an investor in a related-party transaction in the amount of $148,794. Of this amount, $25,000, which was invested by the investor in excess of two years ago, was converted to stock pursuant to a convertible note between the Company and the investor, at the conversion price of $.005 per share, equal to 5,000,000 shares of the Company’s common stock, and thus reducing the outstanding debt to such investor to $123,794. As an insider, the investor is limited to selling 4,952,473 shares during each 90-day period, such amount representing 1% of the 495,247,251 outstanding shares of common stock of the Company as of January 27, 2010. The investor has a present intention to sell these shares in the next 90 days.
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