Nevada
|
8090
|
20-3445803
|
||||
(State
or other Jurisdiction
of
Incorporation or Organization)
|
|
(Primary
Standard Industrial
Classification
Code Number)
|
(I.R.S.
Employer
Identification
No.)
|
Large
accelerated filer o
|
Accelerated
filer o
|
Non-accelerated
filer o
|
Smaller
reporting company x
|
(Do
not check if a smaller reporting company)
|
|
Title
of Each Class Of
Securities
To Be Registered
|
Amount
To Be
Registered
|
Proposed
Maximum
Offering
Price
Per
Security (1)
|
Proposed
Maximum
Aggregate
Offering
Price
|
Amount
Of
Registration
Fee
|
||||||||||||
Common
Stock, par value $.0001 per share
|
41,257,540 | $ | 1.00 | $ | 41,257,540 | $ | 2,302.17 | |||||||||
Common
Stock, par value $.0001 per share issuable upon conversion of
debentures
|
15,571,869 | $ | 1.00 | $ | 15,571,869 | $ | 868.91 | |||||||||
Common
Stock, par value $.0001 per share issuable upon exercise of outstanding
warrants
|
1,378,884 | $ | 1.50 | $ | 2,068,326 | $ | 115.41 | |||||||||
Common
Stock, par value $.0001 per share issuable upon exercise of warrants
issuable upon conversion of outstanding debentures
|
21,771,438 | $ | 1.50 | $ | 32,657,157 | $ | 1,822.27 | |||||||||
Total
|
79,979,730 | $ | 91,554,892 | $ | 5,108.76 |
(1)
|
Estimated
solely for the purpose of computing amount of the registration fee
pursuant to Rule 457(a) promulgated under the Securities Act of 1933 based
upon recent prices of private transactions, except for the shares issuable
upon exercise of warrants, which is pursuant to Rule
457(g).
|
|
Page
|
|
Prospectus
Summary
|
|
1
|
Risk
Factors
|
|
6
|
Use
of Proceeds
|
|
15
|
Market
For Common Stock and Related Stockholder Matters
|
15
|
|
Determination
of Offering Price
|
15
|
|
Management’s
Discussion and Analysis and Plan of Operations
|
16
|
|
Business
|
|
24
|
Description
of Property
|
30
|
|
Legal
Proceedings
|
30
|
|
Management
|
|
32
|
Executive
Compensation
|
34
|
|
Certain
Relationships and Related Transactions
|
|
35
|
Security
Ownership of Certain Beneficial Owners and Management
|
|
36
|
Description
of Securities
|
|
38
|
Shares
Eligible for Future Sale
|
|
41
|
Indemnification
for Securities Act Liabilities
|
42
|
|
Plan
of Distribution
|
43
|
|
Selling
Stockholders
|
|
45
|
Legal
Matters
|
|
63
|
Experts
|
|
63
|
Additional
Information
|
|
64
|
Index
to Financial Statements
|
|
65
|
Common
stock offered by selling stockholders
|
|
79,979,730 shares,
including the following:
|
- |
41,257,540
shares of common sup
to 15,571,869 shares of common stock underlying convertible debentures in
the face amount of $15,571,845.37;
|
|
- |
up
to 1,378,884 shares of common stock issuable upon exercise of outstanding
common stock purchase warrants exercisable at $1.50 per share;
and
|
|
- |
up
to 21,771,438 shares of common stock issuable upon exercise of common
stock purchase warrants issuable upon conversion of outstanding
convertible debentures exercisable at $1.50 per
share.
|
|
Shares
outstanding prior to the offering
|
68,809,660 shares
as of February 1, 2010 (1)
|
|
Shares
to be outstanding after the offering
|
107,531,851 shares
|
|
Use
of proceeds
|
We
will not receive any proceeds from the sale of the common stock. However,
we will receive the sale price of any common stock we sell to the selling
stockholder upon exercise of the warrants. However, the warrants entitle
the holder to exercise their warrants on a cashless basis. In the event
that any selling stockholder exercises their warrants on a cashless basis,
then we will not receive any proceeds from the exercise of those warrants.
We expect to use the proceeds received from the exercise of the warrants,
if any, for general working capital
purposes.
|
(1)
|
Does
not include shares of common
stock issuable upon conversion of outstanding convertible debentures or
warrants. Please see our “Description of Securities” section on page 41 for a complete description of these securities,
including their conversion terms.
|
·
|
availability,
quality and price relative to competitive
solutions;
|
|
·
|
customers’
opinions of the solutions’ utility;
|
|
·
|
ease
of use;
|
|
·
|
consistency
with prior practices; and
|
|
·
|
law
enforcement opinions of the solutions’
usefulness.
|
1.
|
Representing
to any person or entity that he is the Chief Executive Officer, or any
other officer of Amber
Ready;
|
2.
|
Communicating
statements to or contact Amber Ready employees or any third-parties about
Amber Ready; and
|
3.
|
Restraining
and enjoining Mr. Patterson from disclosing any confidential and/or
proprietary information of Amber Ready’s to
third-parties.
|
•
|
election
of our board of directors;
|
|
•
|
removal
of any of our directors;
|
|
•
|
amendment
of our certificate of incorporation or bylaws; and
|
|
•
|
adoption
of measures that could delay or prevent a change in control or impede a
merger, takeover or other business combination involving
us.
|
As
of
September
30, 2009
|
||||
Net
tangible assets (A)
|
$ | (22,442,529 | ) | |
Shares
Outstanding (B)
|
33,614,963 | |||
Assumed
exercise of warrants issued with convertible
debentures
|
18,657,045 | |||
Assumed
conversion of preferred stock
|
15,621,845 | |||
Net
additional shares issuable
|
34,278,890 | |||
Adjusted
shares outstanding
|
67,893,853 | |||
Net
tangible book value per share (A) divided by (B)
|
$ | (0.33 | ) | |
Diluted
Tangible Book Value Per Share (C)
|
$ | (0.33 | ) | |
(assumed
exercise/conversion is anti-dilutive)
|
||||
Purchase
price in the offering (D)
|
$ | 1.00 | ||
Potential
dilution per share (D) – (C)
|
$ | 1.33 |
As
of
September
30, 2009
|
||||
Net
tangible assets (A)
|
$ | (22,442,529 | ) | |
Shares
outstanding (B)
|
33,614,963 | |||
Assumed
exercise of warrants issued with convertible
debentures
|
18,657,045 | |||
Assumed
conversion of convertible debt
|
15,621,845 | |||
Assumed
conversion of other outstanding warrants
|
5,002,884 | |||
Net
additional shares issuable
|
39,281,774 | |||
Adjusted
shares outstanding (C)
|
72,896,737 | |||
Net
tangible book value per share
|
$ | (0.31 | ) | |
Diluted
tangible book value per share
|
$ | (0.31 | ) |
•
|
that
a broker or dealer approve a person's account for transactions in penny
stocks; and
|
|
•
|
the
broker or dealer receive from the investor a written agreement to the
transaction, setting forth the identity and quantity of the penny stock to
be purchased.
|
•
|
obtain
financial information and investment experience objectives of the person;
and
|
|
•
|
make
a reasonable determination that the transactions in penny stocks are
suitable for that person and the person has sufficient knowledge and
experience in financial matters to be capable of evaluating the risks of
transactions in penny stocks.
|
•
|
sets
forth the basis on which the broker or dealer made the suitability
determination; and
|
|
•
|
that
the broker or dealer received a signed, written agreement from the
investor prior to the transaction.
|
•
|
discuss
our future expectations;
|
|
•
|
contain
projections of our future results of operations or of our financial
condition; and
|
|
•
|
state
other “forward-looking”
information.
|
·
|
The
manner in which we used the funds raised in our private placement
transactions in 2009 and lack of revenues have created a financial
hardship that we are working to overcome. The Child Safety Tour and Times
Square Event that was conducted in 2009 was a significant portion of our
funds, however, these events did not meet expectations in terms of
enrollments and revenue. These events did produce contacts and
exposure, which we are attempting to now build upon.
|
|
·
|
We
appointed a new Chief Executive Officer and Chief Operating Officer in
September 2009. Our new management has been streamlining
operations by reducing personnel, cutting back on operating expenses, and
eliminating high cost events. We believe that these actions will allow us
to conserve our limited financial resources and focus our resources on
local and community events that we believe will have greater success in
producing revenue.
|
·
|
We
have developed a new plan to bring our program to the parents and students
directly. We no longer can expect parents to respond to us by attending a
child safety seminar from a company they may have not heard of. We have
reduced the price of our product to an annual fee from a bi-annual fee,
which is more affordable to parents; By creating child safety products, we
believe we can connect better with parents by delivering a tangible
product to consumers rather than a straight service only available on the
internet.
|
|
·
|
We
are also going to initiate a grassroots effort to bring our program to
local communities, schools and civic organizations. Once we reach an
agreement with a school or community organization for them to host one of
our Child Safety Programs, we arrange to have a permission slip sent home
with the children who are invited to attend the program. Every
child that brings the signed permission slip to the program will have
digital fingerprints and photographs taken, along with a profile of the
child, which is put onto a CD that the child takes home to the
parents. We do not keep or store any of the fingerprints,
photos or profiles. The local school district or community
organization pays us a small fee, typically two dollars per child, for our
services. In addition to the permission slip, we also send each
child home with our $19.95 Child Safety Kit, which the parents can either
purchase or return. We have begun to deliver our Child Safety Kits to
several organizations including the Boy Scouts of America (Northern
Council of NJ), the YMCA, several schools in New Jersey and various other
organizations in connection with upcoming Child Safety
Programs.
|
-
|
Dramatically
decrease the average time between determining that a child is missing and
the commencement of a meaningful search by local law enforcement
agencies;
|
-
|
Saving
the lives of children by aiding in their rapid
recovery;
|
-
|
Providing
timely, high quality information enabling law enforcement agencies and
communities to vigorously search for missing
children;
|
-
|
Creating
a deterrent against child abduction by significantly reducing the average
time to disseminate an AMBER Alert;
|
-
|
Providing
the resources to assist families if their child should go
missing;
|
-
|
Reduce
child abduction through education and community outreach programs;
and
|
-
|
Providing
tools to help families in the event of a medical
emergency.
|
-
|
1,000
free missing child posters
|
-
|
Private
Investigative Services (certain rules
apply)
|
-
|
$10,000
Reward Program (certain rules
apply)
|
-
|
Advocacy
and Support Services
|
·
|
49.66
million children live with both
parents;
|
·
|
17.16
million children live with mother
only;
|
·
|
3.46
million children live with father only;
and
|
·
|
3.38
million children live with neither
parent.
|
·
|
Direct
to consumer internet subscriptions;
|
·
|
AMBER
Ready Child Safety Events and Safety
Seminars;
|
·
|
Retail
outlets and resellers;
|
·
|
Third-party
marketers;
|
·
|
Organizational
fundraisers;
|
·
|
Employee
Benefit Programs at companies;
|
·
|
Community
outreach programs; and
|
·
|
Government/Corporate
purchasing.
|
Name of Trademark Applied
for
|
Date of Application
|
Serial Number
|
Amber
EMS
|
July
14, 2008
|
76691245
|
Child
Safety in the Palm of Your Hand
|
September
15, 2009
|
77827233
|
·
|
FindMyKid.com – places a
banner or photo of the child onto their website after the child has been
reported missing;
|
·
|
Child
Search – promotes public awareness about missing
children; offers pictures and descriptions of missing
children;
|
·
|
The National Center for Missing
and Exploited Children – aids in the search of a child once they
have been reported missing and is restricted from providing any proactive
service for “Non-Missing” children;
|
·
|
Child Alert Foundation –
utilizes media to provide awareness when a child has been reported missing
and also aids in the search; and
|
·
|
Child Quest
International –
searches for missing children; contains photos of the child as well
as the suspected abductor.
|
Names:
|
Ages
|
Titles:
|
Board
of Directors
|
Frank
DelVecchio
|
40
|
Chief
Executive Officer and Senior Vice President
|
Director
|
William
Schutze
|
65
|
Chairman
of the Board
|
Director
|
Milton
Makris
|
57
|
Chief
Operating Officer
|
Director
|
Robert
Christie
|
66
|
Director
|
|
James
Garner
|
64
|
Director
|
|
Kai
D. Patterson
|
50
|
Director
|
|
Suzanne
Stanford
|
58
|
Director
|
Name
& Principal Position
|
Year
|
Salary
($)
|
Bonus
($)
|
Stock
Awards($)
|
Option
Awards ($)
|
Non-Equity
Incentive Plan Compensation ($)
|
Change
in Pension Value and Non-Qualified Deferred Compensation Earnings
($)
|
All
Other Compensation ($)
|
Total
($)
|
||||||||||||||||||||||||
Kai
D. Patterson, CEO (1)
|
2009
|
$ | 96,154 | -- | -- | -- | -- | -- | $ | 31,166 | (2) | $ | 127,320 | ||||||||||||||||||||
2008
|
$ | 105,000 | -- | -- | -- | -- | -- | $ | 47,309 | (3) | $ | 152,309 | |||||||||||||||||||||
Frank
DelVecchio, CEO (4)
|
2009
|
$ | 198,462 | $ | 30,000 | -- | -- | -- | -- | $ | 1,948 | (5) | $ | 230,410 |
(1)
|
Mr.
Patterson was terminated as Chief Executive Officer on September 11,
2009.
|
(2)
|
Includes
$23,034 of automobile lease payments and $8,131 of additional automobile
expenses, including gas, tolls, parking and
maintenance.
|
(3)
|
Includes
$29,359 of automobile lease payments and $17,949 of additional automobile
expenses, including gas, tolls, parking and
maintenance.
|
(4)
|
Mr.
DelVecchio was appointed as Chief Executive Officer on September 14,
2009.
|
(5)
|
Represents
automobile lease payments and additional automobile expenses, including
gas, tolls, parking and maintenance since September 14,
2009.
|
·
|
By
each person who is known by us to beneficially own more than 5% of our
common stock;
|
·
|
By
each of our officers and directors; and
|
·
|
By
all of our officers and directors as a
group.
|
NAME
AND ADDRESS
OF
OWNER (1)
|
TITLE
OF
CLASS
|
NUMBER
OF
SHARES
OWNED (2)
|
PERCENTAGE
OF CLASS PRIOR TO
OFFERING
(3)
|
PERCENTAGE
OF CLASS AFTER
OFFERING
(4)
|
|||||||||
Kai
D. Patterson
|
Common
Stock
|
15,345,470 | 22.30 | % | 14.27 | % | |||||||
Frank
DelVecchio
|
Common
Stock
|
250,000 | * | * | |||||||||
Robert
Christie
|
Common
Stock
|
250,000 | * | * | |||||||||
Milton
Makris
|
Common
Stock
|
250,000 | * | * | |||||||||
William
Schutze
|
Common
Stock
|
251,049 | * | * | |||||||||
James
Garner
|
Common
Stock
|
250,000 | * | * | |||||||||
Suzanne
Stanford
|
Common
Stock
|
250,000 | * | * | |||||||||
All
Officers and Directors As a Group (7 persons)
|
Common
Stock
|
16,846,519 | 24.48 | % | 15.67 | % | |||||||
John
Thomas Bridge & Opportunity Fund, L.P. (5)
|
Common
Stock
|
26,896,386 | (6) | 39.09 | % | 3.48 | % | ||||||
3
Riverway, Suite 1800
|
|||||||||||||
Houston,
Texas 77056
|
|||||||||||||
John
Thomas Financial, Inc. (7)
|
Common
Stock
|
3,907,113 | (8) | 5.64 | % | 0 | % | ||||||
14
Wall Street, 5th
Floor
|
|||||||||||||
New
York, New York 10005
|
|||||||||||||
David
L. Crick
|
Common
Stock
|
5,641,519 | (9) | 7.72 | % | * | |||||||
2802
Belle Arbor Avenue
|
|||||||||||||
Chattanooga,
Tennessee 37406
|
|||||||||||||
Fermo
Jaeckle
|
Common
Stock
|
4,360,266 | (10) | 6.06 | % | * | |||||||
1219
Ecklin Drive
|
|||||||||||||
Cordova,
Tennessee 38016
|
Number
of
|
||||
Date
|
Shares
|
|||
On
the date of this prospectus
|
18,948,839
|
|||
90 days
after the date of this prospectus
|
18,948,839
|
|||
At
various times beginning more than 180 days after the date of this
prospectus
|
27,552,120
|
•
|
1%
of the number of shares of our common stock then outstanding, which will
equal approximately 688,096 shares immediately after this offering,
assuming that no outstanding warrants are exercised nor convertible
securities are converted; or
|
|
•
|
the
average weekly trading volume of our common stock on a principal market or
exchange during the four calendar weeks preceding the filing of a notice
on Form 144 with respect to that
sale.
|
•
|
If
the person has beneficially owned the shares for at least six months,
including the holding period of any prior owner other than an affiliate,
the shares may be sold, subject to continued availability of current
public information about us.
|
|
•
|
If
the person has beneficially owned the shares for at least one year,
including the holding period of any prior owner other than an affiliate,
the shares may be sold without any Rule 144
limitations.
|
•
|
ordinary
brokerage transactions and transactions in which the broker-dealer
solicits purchasers;
|
•
|
block
trades in which the broker-dealer will attempt to sell the shares as agent
but may position and resell a portion of the block as principal to
facilitate the transaction;
|
•
|
purchases
by a broker-dealer as principal and resale by the broker-dealer for its
account;
|
•
|
an
exchange distribution in accordance with the rules of the applicable
exchange;
|
•
|
privately
negotiated transactions;
|
•
|
short
sales;
|
•
|
broker-dealers
may agree with the selling stockholders to sell a specified number of such
shares at a stipulated price per
share;
|
•
|
through
the writing or settlement of options or other hedging transactions,
whether through an options exchange or
otherwise;
|
•
|
a
combination of any such methods of sale;
and
|
•
|
any
other method permitted pursuant to applicable
law.
|
Beneficial
Ownership Prior to this Offering (1)
|
Beneficial
Ownership After this Offering ( 2)
|
||||||||
Selling
Stockholder
|
Number
of
Shares
|
Percent
of
Class
|
Shares
That May be Offered and Sold Hereby
|
Number
of
Shares
|
Percent
of
Class
|
||||
John
Thomas Bridge and Opportunity Fund, L.P. (3)
|
26,896,386
|
39.09%
|
23,151,316
|
3,745,070
|
3.48%
|
||||
John
Thomas Financial, Inc. (4)
|
3,907,113
|
5.64%
|
3,907,113
|
(15)
|
0
|
0
|
|||
Renald
& Catherine Anelle
|
75,014
|
*
|
70,560
|
(16)
|
4,454
|
*
|
|||
Ralph
& Lois Arch
|
74,616
|
*
|
70,186
|
(17)
|
4,430
|
*
|
|||
Charles
Chief Boyd
|
93,695
|
*
|
88,131
|
(18)
|
5,564
|
*
|
|||
Richard
Brooks
|
173,420
|
*
|
162,949
|
(19)
|
10,471
|
*
|
|||
Tim
Burford
|
332,065
|
*
|
311,751
|
(20)
|
20,314
|
*
|
|||
Cosimo
Caggese
|
93,660
|
*
|
88,099
|
(21)
|
5,561
|
*
|
|||
Carlos
Castillo
|
93,624
|
*
|
88,066
|
(22)
|
5,558
|
*
|
|||
David
Clements
|
74,930
|
*
|
70,480
|
(23)
|
4,450
|
*
|
|||
Crat
Investments (4a)
|
560,450
|
*
|
527,178
|
(24)
|
33,272
|
*
|
|||
Asset
Protection Fund Ltd. (5)
|
374,632
|
*
|
352,388
|
(25)
|
22,244
|
*
|
|||
Downey
& Sons Pallet Co., Inc. (6)
|
93,695
|
*
|
88,131
|
(26)
|
5,564
|
*
|
|||
Michael
Duffy
|
750,401
|
1.08%
|
705,840
|
(27)
|
44,561
|
*
|
|||
John
Esposito
|
375,632
|
*
|
353,324
|
(28)
|
22,308
|
*
|
|||
Douglas
Fore
|
6,087
|
*
|
6,087
|
0
|
0
|
||||
Luis
& Iris Garcia
|
563,446
|
*
|
529,984
|
(29)
|
33,462
|
*
|
|||
Anthony
Gennaro
|
6,087
|
*
|
6,087
|
0
|
0
|
||||
Paul
Gersh
|
331,563
|
*
|
311,281
|
(30)
|
20,282
|
*
|
Joseph
Gibson
|
93,197
|
*
|
87,665
|
(31)
|
5,532
|
*
|
|||
Frank
Giordano
|
75,554
|
*
|
71,066
|
(32)
|
4,488
|
*
|
|||
Ralph
W. Gitz
|
476,665
|
*
|
447,168
|
(33)
|
29,497
|
*
|
|||
Roger
& Rosemary Goudreau
|
92,625
|
*
|
87,129
|
(34)
|
5,496
|
*
|
|||
Gary
Harrell
|
75,097
|
*
|
70,638
|
(35)
|
4,459
|
*
|
|||
Alan
Josyln
|
93,266
|
*
|
87,730
|
(36)
|
5,536
|
*
|
|||
Ted
Kelly
|
27,253
|
*
|
25,599
|
(37)
|
1,654
|
*
|
|||
John
& Colleen Kerr Trust (7)
|
373,062
|
*
|
350,918
|
(38)
|
22,144
|
*
|
|||
Leonard
Lewis
|
93,730
|
*
|
88,165
|
(39)
|
5,565
|
*
|
|||
Charles
Lowden
|
12,174
|
*
|
12,174
|
0
|
0
|
||||
Spencer
Mallory
|
93,660
|
*
|
88,099
|
(40)
|
5,561
|
*
|
|||
Peter
Malo
|
93,660
|
*
|
88,099
|
(41)
|
5,561
|
*
|
|||
William
McCartney
|
94,017
|
*
|
88,433
|
(42)
|
5,584
|
*
|
|||
John
Meeks
|
92,696
|
*
|
87,196
|
(43)
|
5,500
|
*
|
|||
Steven
& Kathleen Mele
|
165,835
|
*
|
155,676
|
(44)
|
10,159
|
*
|
|||
James
Mitchell
|
93,447
|
*
|
87,899
|
(45)
|
5,548
|
*
|
|||
David
& Laura Owen Trust (8)
|
37,609
|
*
|
35,376
|
(46)
|
2,233
|
*
|
|||
Marion
Rose
|
93,447
|
*
|
87,899
|
(47)
|
5,548
|
*
|
|||
John
Rupe
|
74,988
|
*
|
70,535
|
(48)
|
4,453
|
*
|
|||
Robert
& LeAnn Seely
|
37,067
|
*
|
34,867
|
(49)
|
2,200
|
*
|
|||
Patrick
G. Sheridan
|
75,014
|
*
|
70,560
|
(50)
|
4,454
|
*
|
|||
Tom
Smolik
|
46,011
|
*
|
43,282
|
(51)
|
2,729
|
*
|
|||
Alan
Swain
|
187,887
|
*
|
176,729
|
(52)
|
11,158
|
*
|
|||
Jon
Voris
|
263,256
|
*
|
247,636
|
(53)
|
15,620
|
*
|
|||
Kevin
Walker
|
75,612
|
`
|
*
|
71,120
|
(54)
|
4,492
|
*
|
||
Christopher
Charles
|
665,276
|
*
|
647,076
|
(55)
|
18,200
|
*
|
|||
David
L. Crick
|
5,641,519
|
7.72%
|
5,459,519
|
(56)
|
182,000
|
*
|
|||
Todd
Tuls
|
2,820,759
|
3.98%
|
2,729,759
|
(57)
|
91,000
|
*
|
Boyce
W. Church
|
280,676
|
*
|
271,576
|
(58)
|
9,100
|
*
|
|||
Fermo
Jaeckle
|
4,360,266
|
6.06%
|
4,084,639
|
(59)
|
275,627
|
*
|
|||
Marc
C Albertson
|
145,677
|
*
|
136,489
|
(60)
|
9,188
|
*
|
|||
Don
A. Callahan
|
72,840
|
*
|
68,245
|
(61)
|
4,595
|
*
|
|||
Hendrik
Ynema
|
437,027
|
*
|
409,464
|
(62)
|
27,563
|
*
|
|||
Gary
Bessoni
|
43,705
|
*
|
40,948
|
(63)
|
2,757
|
*
|
|||
William
Emmons
|
291,350
|
*
|
272,975
|
(64)
|
18,375
|
*
|
|||
Timothy
Marks
|
1,446,756
|
2.07%
|
1,354,880
|
(65)
|
91,876
|
*
|
|||
Ronald
Boonie
|
578,702
|
*
|
541,952
|
(66)
|
36,750
|
*
|
|||
James
Steagall
|
289,350
|
*
|
270,975
|
(67)
|
18,375
|
*
|
|||
James
Delalley
|
140,039
|
*
|
135,489
|
(68)
|
4,550
|
*
|
|||
Matthew
D. Lowery
|
1,560,344
|
2.24%
|
1,393,280
|
(69)
|
167,064
|
*
|
|||
James
R. Lance
|
288,954
|
*
|
270,578
|
(70)
|
18,376
|
*
|
|||
Joseph
Nicosia
|
144,677
|
*
|
135,489
|
(71)
|
9,188
|
*
|
|||
Allen
Hoyt
|
144,677
|
*
|
135,489
|
(72)
|
9,188
|
*
|
|||
Adam
Brown Services, Inc. (9)
|
101,275
|
*
|
94,843
|
(73)
|
6,432
|
*
|
|||
Joseph
Berendowski
|
284,172
|
*
|
254,795
|
(74)
|
29,377
|
*
|
|||
Thomas
Kennedy
|
144,680
|
*
|
135,490
|
(75)
|
9,190
|
*
|
|||
Dennis
Urbanski
|
144,680
|
*
|
135,490
|
(76)
|
9,190
|
*
|
|||
Gary
Spiegel
|
72,340
|
*
|
67,745
|
(77)
|
4,595
|
*
|
|||
Karel
M. & Maureen Sheveland
|
72,340
|
*
|
67,745
|
(78)
|
4,595
|
*
|
|||
Jai
Gaur
|
72,340
|
*
|
67,745
|
(79)
|
4,595
|
*
|
|||
James
M. and Elizabeth S. Moore
|
144,677
|
*
|
135,489
|
(80)
|
9,188
|
*
|
|||
Anthony
Adams
|
42,014
|
*
|
40,648
|
(81)
|
1,366
|
*
|
|||
Barclay
Redgate
|
72,340
|
*
|
67,745
|
(82)
|
4,595
|
*
|
|||
Michael
Lichtenberg
|
144,677
|
*
|
135,489
|
(83)
|
9,188
|
*
|
|||
John
Pinion
|
289,350
|
*
|
270,975
|
(84)
|
18,375
|
*
|
|||
Vasileios
Tsiaras
|
144,677
|
*
|
135,489
|
(85)
|
9,188
|
*
|
|||
Glenn
J. Herbolsheimer
|
72,340
|
*
|
67,745
|
(86)
|
4,595
|
*
|
|||
Gary
L. Akerstrom
|
289,350
|
*
|
270,975
|
(87)
|
18,375
|
*
|
|||
Thomas
Hamilton
|
935,211
|
1.35%
|
864,491
|
(88)
|
70,720
|
*
|
|||
Peter
Jaeckle
|
144,677
|
*
|
135,489
|
(89)
|
9,188
|
*
|
|||
Ronald
Weber
|
144,677
|
*
|
135,489
|
(90)
|
9,188
|
*
|
|||
Steven
L. & Marie Rakiec
|
1,136,676
|
1.64%
|
1,019,176
|
(91)
|
117,500
|
*
|
|||
Jason
Messner
|
72,340
|
*
|
67,745
|
(92)
|
4,595
|
*
|
|||
John
Tierney
|
72,340
|
*
|
67,745
|
(93)
|
4,595
|
*
|
|||
Roger
Beu II
|
28,937
|
*
|
27,099
|
(94)
|
1,838
|
*
|
|||
Decio
Loureiro
|
289,350
|
*
|
270,975
|
(95)
|
18,375
|
*
|
|||
William
Kraemer
|
144,677
|
*
|
135,489
|
(96)
|
9,188
|
*
|
|||
James
McClendon
|
72,340
|
*
|
67,745
|
(97)
|
4,595
|
*
|
|||
Bruce
Thomas
|
108,963
|
*
|
102,044
|
(98)
|
6,919
|
*
|
|||
Tanya
Molton
|
72,340
|
*
|
67,745
|
(99)
|
4,595
|
*
|
|||
Jerry
& Paula Dean
|
140,039
|
*
|
135,489
|
(100)
|
4,550
|
*
|
Catherine
Kendall
|
434,027
|
*
|
406,464
|
(101)
|
27,563
|
*
|
|||
Douglas
& Dorene Harrison
|
144,677
|
*
|
135,489
|
(102)
|
9,188
|
*
|
|||
Frank
Blablo
|
144,677
|
*
|
135,489
|
(103)
|
9,188
|
*
|
|||
Rick
& Deborah Estes
|
144,677
|
*
|
135,489
|
(104)
|
9,188
|
*
|
|||
Shephard
& Elizabeth Johnson
|
144,677
|
*
|
135,489
|
(105)
|
9,188
|
*
|
|||
Bruce
Lanzetta
|
72,340
|
*
|
67,745
|
(106)
|
4,595
|
*
|
|||
Harold
Saul
|
135,997
|
*
|
127,360
|
(107)
|
8,637
|
*
|
|||
Thomas
Tidrick
|
56,014
|
*
|
54,194
|
(108)
|
1,820
|
*
|
|||
Leon
Sarfan
|
72,340
|
*
|
67,745
|
(109)
|
4,595
|
*
|
|||
Betty
Lages
|
72,340
|
*
|
67,745
|
(110)
|
4,595
|
*
|
|||
Philip
Panchaud
|
72,340
|
*
|
67,745
|
(111)
|
4,595
|
*
|
|||
Daniel
& Virginia Wright
|
144,677
|
*
|
135,489
|
(112)
|
9,188
|
*
|
|||
Tom
Murch
|
289,350
|
*
|
270,975
|
(113)
|
18,375
|
*
|
|||
Urban
Wilson
|
95,488
|
*
|
89,423
|
(114)
|
6,065
|
*
|
|||
Michael
& Nina Randall
|
140,039
|
*
|
135,489
|
(115)
|
4,550
|
*
|
|||
Kevin
Ross
|
72,340
|
*
|
67,745
|
(116)
|
4,595
|
*
|
|||
John
Sisk
|
2,893,510
|
4.08%
|
2,709,759
|
(117)
|
183,751
|
*
|
|||
Richard
Bost
|
140,039
|
*
|
135,489
|
(118)
|
4,550
|
*
|
|||
Raymond
& Elizabeth Antonucci
|
70,021
|
*
|
67,745
|
(119)
|
2,276
|
*
|
|||
Larry
Scroggins
|
144,677
|
*
|
135,489
|
(120)
|
9,188
|
*
|
|||
Mitchell
Parker
|
28,937
|
*
|
27,099
|
(121)
|
1,838
|
*
|
|||
Peter
Talbot
|
72,340
|
*
|
67,745
|
(122)
|
4,595
|
*
|
|||
Robert
Smith
|
140,039
|
*
|
135,489
|
(123)
|
4,550
|
*
|
|||
Arivoli
Veerapan
|
28,009
|
*
|
27,099
|
(124)
|
910
|
*
|
|||
Michael
& Lori Jakolat
|
140,039
|
*
|
135,489
|
(125)
|
4,550
|
*
|
|||
CDT
Solutions Inc. (10)
|
280,075
|
*
|
270,975
|
(126)
|
9,100
|
*
|
|||
DeMartini
Family Trust (11)
|
72,340
|
*
|
67,745
|
(127)
|
4,595
|
*
|
|||
Daniel
Dekeyser
|
69,821
|
*
|
67,545
|
(128)
|
2,276
|
*
|
|||
Justin
Miska
|
69,821
|
*
|
67,545
|
(129)
|
2,276
|
*
|
|||
Robert
Kammann
|
139,639
|
*
|
135,089
|
(130)
|
4,550
|
*
|
|||
Barbara
& Steven Cebell
|
69,821
|
*
|
67,545
|
(131)
|
2,276
|
*
|
|||
Jerry
Jones
|
69,821
|
*
|
67,545
|
(132)
|
2,276
|
*
|
|||
Anthony
Liedtke
|
139,639
|
*
|
135,089
|
(133)
|
4,550
|
*
|
|||
Theodore
Ferraro
|
69,821
|
*
|
67,545
|
(134)
|
2,276
|
*
|
|||
Fred
& Cathy Pfeiffer
|
69,821
|
*
|
67,545
|
(135)
|
2,276
|
*
|
|||
James
Schaben
|
279,275
|
*
|
270,175
|
(136)
|
9,100
|
*
|
|||
Ronald
Van Zetten
|
139,639
|
*
|
135,089
|
(137)
|
4,550
|
*
|
|||
Jerry
Harper Jr.
|
139,639
|
*
|
135,089
|
(138)
|
4,550
|
*
|
|||
Ben
& Aleta Miller
|
139,639
|
*
|
135,089
|
(139)
|
4,550
|
*
|
|||
Donald
& Mary Young
|
83,783
|
*
|
81,053
|
(140)
|
2,730
|
*
|
|||
Bruce
White
|
139,639
|
*
|
135,089
|
(141)
|
4,550
|
*
|
|||
Guillaume
Mimoun
|
69,821
|
*
|
67,545
|
(142)
|
2,276
|
*
|
|||
Pulcherio
& Ofelia Palma
|
279,275
|
*
|
270,175
|
(143)
|
9,100
|
*
|
|||
Anthony
Silver
|
83,783
|
*
|
81,053
|
(144)
|
2,730
|
*
|
|||
Assad
Halleak
|
139,639
|
*
|
135,089
|
(145)
|
4,550
|
*
|
|||
Frank
& Cynthia Rocca
|
139,639
|
*
|
135,089
|
(146)
|
4,550
|
*
|
|||
Alan
& Patti Stringham
|
27,929
|
*
|
27,019
|
(147)
|
910
|
*
|
|||
James
Cunningham
|
139,639
|
*
|
135,089
|
(148)
|
4,550
|
*
|
|||
Douglas
Wagner
|
69,821
|
*
|
67,545
|
(149)
|
2,276
|
*
|
|||
Moses
Blau
|
279,275
|
*
|
270,175
|
(150)
|
9,100
|
*
|
|||
Charles
Hilkey Jr.
|
113,384
|
*
|
109,690
|
(151)
|
3,694
|
*
|
|||
David
L. Denis & Darlene S. Denis Family Trust (12)
|
69,821
|
*
|
67,545
|
(152)
|
2,276
|
*
|
Lloyd
Kamo
|
69,821
|
*
|
67,545
|
(153)
|
2,276
|
*
|
|||
Caribbean
Money Market Brokers Ltd. (13)
|
139,639
|
*
|
135,089
|
(154)
|
4,550
|
*
|
|||
Robert
Sippel
|
1,396,380
|
2.00%
|
1,350,880
|
(155)
|
45,500
|
*
|
|||
Eric
Stager
|
139,639
|
*
|
135,089
|
(156)
|
4,550
|
*
|
|||
Edward
Mafoud
|
28,857
|
*
|
27,019
|
(157)
|
1,838
|
*
|
|||
Kevin
Pilgrem
|
144,277
|
*
|
135,089
|
(158)
|
9,188
|
*
|
|||
Mohammad
Saffouri
|
288,550
|
*
|
270,175
|
(159)
|
18,375
|
*
|
|||
Jim
Whiteley
|
144,277
|
*
|
135,089
|
(160)
|
9,188
|
*
|
|||
Gregory
Olson
|
80,793
|
*
|
75,648
|
(161)
|
5,145
|
*
|
|||
Daniel
Serrano
|
847,326
|
1.22%
|
748,201
|
(162)
|
99,125
|
*
|
|||
Scott
Levy
|
2,118,316
|
3.03%
|
1,870,502
|
(163)
|
247,814
|
*
|
|||
Frank
Rocca
|
423,664
|
*
|
374,101
|
(164)
|
49,563
|
*
|
|||
Bryce
Jones
|
766,401
|
1.11%
|
748,201
|
(165)
|
18,200
|
*
|
|||
Douglas
& Virginia Bishop
|
76,640
|
*
|
74,820
|
(166)
|
1,820
|
*
|
|||
Ronald
& Sharon Christianson
|
847,326
|
1.22%
|
748,201
|
(167)
|
99,125
|
*
|
|||
Ronald
Delmonico
|
423,664
|
*
|
374,101
|
(168)
|
49,563
|
*
|
|||
Andrew
Grimstone
|
423,664
|
*
|
374,101
|
(169)
|
49,563
|
*
|
|||
Gregory
Adams
|
211,831
|
*
|
187,050
|
(170)
|
24,781
|
*
|
|||
Edward
Plata
|
211,831
|
*
|
187,050
|
(171)
|
24,781
|
*
|
|||
Michael
Devlin
|
211,831
|
*
|
187,050
|
(172)
|
24,781
|
*
|
|||
Michael
& Linda Schmidt
|
211,831
|
*
|
187,050
|
(173)
|
24,781
|
*
|
|||
Curtiss
Sibley
|
169,465
|
*
|
149,640
|
(174)
|
19,825
|
*
|
|||
Daniel
D'Errico
|
211,831
|
*
|
187,050
|
(175)
|
24,781
|
*
|
|||
Dan
Boyle
|
211,831
|
*
|
187,050
|
(176)
|
24,781
|
*
|
|||
Samuel
& Linda Arpino
|
191,600
|
*
|
187,050
|
(177)
|
4,550
|
*
|
|||
Fred
Simon
|
847,326
|
1.22%
|
748,201
|
(178)
|
99,125
|
*
|
|||
Frank
Triantos
|
423,664
|
*
|
374,101
|
(179)
|
49,563
|
*
|
|||
Peter
Ballos III
|
423,664
|
*
|
374,101
|
(180)
|
49,563
|
*
|
|||
John
Ullrich
|
383,201
|
*
|
374,101
|
(181)
|
9,100
|
*
|
|||
Michael
Baundendistel
|
288,168
|
*
|
281,325
|
(182)
|
6,843
|
*
|
|||
Michael
Acierno
|
27,500
|
*
|
27,500
|
(183)
|
0
|
0
|
|||
Lawrence
Banks
|
6,250
|
*
|
6,250
|
(183)
|
0
|
0
|
|||
George
Baseluos
|
3,130
|
*
|
3,130
|
(183)
|
0
|
0
|
|||
Neftali
Mercedes
|
3,130
|
*
|
3,130
|
(183)
|
0
|
0
|
|||
Arthur
Mel Coffey
|
82,500
|
*
|
82,500
|
(183)
|
0
|
0
|
|||
Gregory
Fleming
|
31,250
|
*
|
31,250
|
(183)
|
0
|
0
|
|||
Anthony
Guiliano
|
25,000
|
*
|
25,000
|
(183)
|
0
|
0
|
|||
Ray
Gordos
|
18,750
|
*
|
18,750
|
(183)
|
0
|
0
|
|||
Anthony
Maiuolo
|
16,750
|
,
|
*
|
16,750
|
(183)
|
0
|
0
|
||
Christopher
Harrington
|
65,653
|
*
|
65,653
|
(183)
|
0
|
0
|
|||
Solomon
James
|
17,500
|
*
|
17,500
|
(183)
|
0
|
0
|
|||
Christopher
Kalatoudis
|
34,250
|
*
|
34,250
|
(183)
|
0
|
0
|
|||
Christopher
Perillo
|
17,250
|
*
|
17,250
|
(183)
|
0
|
0
|
|||
Gani
Leka
|
2,000
|
*
|
2,000
|
(183)
|
0
|
0
|
|||
Scott
Levine
|
465,000
|
*
|
465,000
|
(183)
|
0
|
0
|
|||
Wade
Papas
|
30,000
|
*
|
30,000
|
(183)
|
0
|
0
|
|||
Daniel
Potash
|
20,000
|
*
|
20,000
|
(183)
|
0
|
0
|
|||
Dennis
Riordan
|
88,700
|
*
|
88,700
|
(183)
|
0
|
0
|
|||
William
Roussos
|
5,000
|
*
|
5,000
|
(183)
|
0
|
0
|
|||
Frank
Scarso
|
56,000
|
*
|
56,000
|
(183)
|
0
|
0
|
|||
Alain
Florstain
|
10,000
|
*
|
10,000
|
(183)
|
0
|
0
|
|||
Barry
Pittman
|
2,500
|
*
|
2,500
|
(183)
|
0
|
0
|
|||
George
Belesis
|
225,000
|
*
|
225,000
|
(183)
|
0
|
0
|
|||
Ron
Cantolupo
|
52,191
|
*
|
52,191
|
(183)
|
0
|
0
|
|||
David
Page
|
60,000
|
*
|
60,000
|
(183)
|
0
|
0
|
|||
Dennis
Herrera
|
155,000
|
*
|
155,000
|
(183)
|
0
|
0
|
|||
David
Krispeal
|
5,000
|
*
|
5,000
|
(183)
|
0
|
0
|
Baris
Calabar
|
5,000
|
*
|
5,000
|
(183)
|
0
|
0
|
|||
Lydell
Polanco
|
5,000
|
*
|
5,000
|
(183)
|
0
|
0
|
|||
Donald
Durando
|
11,100
|
*
|
11,100
|
(183)
|
0
|
0
|
|||
Jonathan
McHale
|
74,720
|
*
|
74,720
|
(183)
|
0
|
0
|
|||
Michael
Bar
|
2,500
|
*
|
2,500
|
(183)
|
0
|
0
|
|||
Evan
Taub
|
10,000
|
*
|
10,000
|
(183)
|
0
|
0
|
|||
Gregory
Lewis
|
2,000
|
*
|
2,000
|
(183)
|
0
|
0
|
|||
Omar
Hassan
|
102,000
|
*
|
102,000
|
(183)
|
0
|
0
|
|||
Nicholas
Dito
|
155,000
|
*
|
155,000
|
(183)
|
0
|
0
|
|||
Enver
Alijaj
|
300,000
|
*
|
300,000
|
(183)
|
0
|
0
|
|||
Johnnie
Jones
|
65,000
|
*
|
65,000
|
(183)
|
0
|
0
|
|||
Kieran
Ryan
|
5,000
|
*
|
5,000
|
(183)
|
0
|
0
|
|||
Kirt
Samuel
|
6,650
|
*
|
6,650
|
(183)
|
0
|
0
|
|||
Louis
Loscalzo
|
7,500
|
*
|
7,500
|
(183)
|
0
|
0
|
|||
Larry
Lubarsky
|
2,500
|
*
|
2,500
|
(183)
|
0
|
0
|
Lawrence
Lowe
|
5,000
|
*
|
5,000
|
(183)
|
0
|
0
|
|||
Edwin
Debus
|
2,500
|
*
|
2,500
|
(183)
|
0
|
0
|
|||
Michael
Roizman
|
2,500
|
*
|
2,500
|
(183)
|
0
|
0
|
|||
Stephen
McKoy
|
3,500
|
*
|
3,500
|
(183)
|
0
|
0
|
|||
Everton
Murdock
|
2,000
|
*
|
2,000
|
(183)
|
0
|
0
|
|||
Paul
Moisio
|
2,500
|
*
|
2,500
|
(183)
|
0
|
0
|
|||
Wayne
Rozanski
|
1,000
|
*
|
1,000
|
(183)
|
0
|
0
|
|||
Philip
Alves
|
1,650
|
*
|
1,650
|
(183)
|
0
|
0
|
|||
Wayne
Kaufman
|
10,000
|
*
|
10,000
|
(183)
|
0
|
0
|
|||
Joseph
Castellano
|
38,850
|
*
|
38,850
|
(183)
|
0
|
0
|
|||
Maria
Cummings
|
38,850
|
*
|
38,850
|
(183)
|
0
|
0
|
|||
Bari
Latterman
|
38,850
|
*
|
38,850
|
(183)
|
0
|
0
|
|||
Vivian
Zhou
|
28,850
|
*
|
28,850
|
(183)
|
0
|
0
|
|||
Marc
Greenberg
|
31,350
|
*
|
31,350
|
(183)
|
0
|
0
|
|||
Maria
Dunn
|
31,350
|
*
|
31,350
|
(183)
|
0
|
0
|
|||
Emily
Bisogna
|
18,850
|
*
|
18,850
|
(183)
|
0
|
0
|
|||
Gils
Aubry
|
30,614
|
*
|
30,614
|
(183)
|
0
|
0
|
|||
Nora
Shehu
|
6,350
|
*
|
6,350
|
(183)
|
0
|
0
|
|||
Adina
Heiss
|
6,350
|
*
|
6,350
|
(183)
|
0
|
0
|
|||
Ashley
Ron
|
6,350
|
*
|
6,350
|
(183)
|
0
|
0
|
|||
Michele
Misiti
|
6,350
|
*
|
6,350
|
(183)
|
0
|
0
|
|||
Mohar
Chaudhuri
|
4,168
|
*
|
4,168
|
(183)
|
0
|
0
|
|||
Melissa
Russo
|
3,850
|
*
|
3,850
|
(183)
|
0
|
0
|
|||
Theresa
Moutuori
|
6,350
|
*
|
6,350
|
(183)
|
0
|
0
|
|||
Sichenzia
Ross Friedman Ference LLP (14)
|
250,000
|
*
|
250,000
|
0
|
0
|
||||
TOTALS
|
87,112,192
|
79,979,730
|
7,132,462
|
(1)
|
Percentage
calculated on the basis of 68,809,660 shares of common stock
outstanding on February 1, 2010.
|
||
(2)
|
Percentage
calculated on the basis of 107,531,851 shares of common stock
outstanding upon the completion of this offering and assumes the sale of
all shares of common stock registered pursuant to this prospectus,
although the selling stockholders are under no obligations known to us to
sell any shares of common stock at this time.
|
||
(3)
|
George
Jarkesy, as managing member of John Thomas Capital Management Group, LLC,
the managing general partner of John Thomas Bridge & Opportunity Fund,
L.P., has voting and investment control over shares held by this
entity.
|
||
(4)
|
Thomas
Belesis has voting and dispositive powers over the securities owned by
John Thomas Financial, Inc. Mr. Belesis disclaims beneficial ownership of
the securities.
|
||
(4a)
|
Phillip
Sassower has voting and investment control over shares held by this
entity.
|
||
(5)
|
David
Dawes has voting and investment control over shares held by this
entity.
|
||
(6)
|
William
Downey has voting and investment control over shares held by this
entity.
|
||
(7)
|
John
Kerr and Colleen Kerr, as Trustees, have voting and investment control
over shares held by this entity.
|
||
(8)
|
David
Owen and Laura Owen, as Trustees, have voting and investment control over
shares held by this entity.
|
||
(9)
|
Anthony
Adams has voting and investment control over shares held by this
entity.
|
||
(10)
|
John
Terril, III has voting and investment control over shares held by this
entity.
|
||
(11)
|
Gary
De Martini and Nancy De Martini, as Trustees, have voting and investment
control over shares held by this entity.
|
||
(12)
|
David
L. Denis and Darlene S. Denis, as Trustees, have voting and investment
control over shares held by this entity.
|
||
(13)
|
Brent
Salvary has voting and investment control over shares held by this
entity.
|
||
(14)
|
Gregory
Sichenzia, Marc J. Ross, Richard A. Friedman and Michael Ference have
shared voting and dispositive power over the shares held by Sichenzia Ross
Friedman Ference LLP.
|
||
(15)
|
Includes
507,113 shares of common stock issuable upon exercise of outstanding
common stock purchase warrants.
|
||
(16)
|
Includes
24,242 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,194 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(17)
|
Includes
24,104 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,045 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(18)
|
Includes
30,277 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,715 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(19)
|
Includes
56,989 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 61,578 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(20)
|
Includes
110,554 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 119,454 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(21)
|
Includes
30,265 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,702 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(22)
|
Includes
30,254 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,689 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(23)
|
Includes
24,212 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,162 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(24)
|
Includes
181,069 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 195,646 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(25)
|
Includes
121,058 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 130,804 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(26)
|
Includes
30,277 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,715 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(27)
|
Includes
242,510 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 262,032 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(28)
|
Includes
121,403 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 131,177 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(29)
|
Includes
182,105 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 196,765 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(30)
|
Includes
110,381 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 119,267 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(31)
|
Includes
30,105 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,529 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(32)
|
Includes
24,429 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,395 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(33)
|
Includes
160,529 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 173,452 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(34)
|
Includes
29,907 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,315 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(35)
|
Includes
24,271 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,225 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(36)
|
Includes
30,129 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,555 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(37)
|
Includes
8,997 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 9,722 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(38)
|
Includes
120,516 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 130,218 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(39)
|
Includes
30,290 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,729 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(40)
|
Includes
30,265 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,702 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(41)
|
Includes
30,265 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,702 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(42)
|
Includes
30,388 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,835 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(43)
|
Includes
29,932 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,342 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(44)
|
Includes
55,277 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 59,628 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(45)
|
Includes
30,191 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,622 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(46)
|
Includes
12,156 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 13,135 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(47)
|
Includes
30,191 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,622 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(48)
|
Includes
24,232 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,184 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(49)
|
Includes
11,968 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 12,932 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(50)
|
Includes
24,242 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,194 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(51)
|
Includes
14,849 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 16,045 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(52)
|
Includes
60,727 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 65,616 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(53)
|
Includes
85,006 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 91,850 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(54)
|
Includes
24,449 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,417 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(55)
|
Includes
150,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 265,950 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(56)
|
Includes
2,000,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 2,181,000 shares of common stock
issuable upon exercise of warrants, which includes warrants that are
issuable upon conversion of outstanding convertible secured
debentures.
|
||
(57)
|
Includes
1,000,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 1,090,500 shares of common stock
issuable upon exercise of warrants, which includes warrants that are
issuable upon conversion of outstanding convertible secured
debentures.
|
||
(58)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,350 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(59)
|
Includes
1,500,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 1,630,750 shares of common stock
issuable upon exercise of warrants, which includes warrants that are
issuable upon conversion of outstanding convertible secured
debentures.
|
||
(60)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,525 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(61)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,263 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(62)
|
Includes
150,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 1163,575 shares of common stock
issuable upon exercise of warrants, which includes warrants that are
issuable upon conversion of outstanding convertible secured
debentures.
|
||
(63)
|
Includes
15,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 16,358 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(64)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 109,050 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(65)
|
Includes
500,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 540,250 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(66)
|
Includes
200,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 216,100 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(67)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,050 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(68)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(69)
|
Includes
250,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 578,750 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(70)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 107,850 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(71)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(72)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(73)
|
Includes
35,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 37,818 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(74)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 105,463 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(75)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,026 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(76)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,026 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(77)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(78)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(79)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(80)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(81)
|
Includes
15,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 16,208 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(82)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(83)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(84)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,250 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(85)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(86)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(87)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,050 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(88)
|
Includes
275,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 348,575 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(89)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(90)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(91)
|
Includes
200,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 421,850 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(92)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(93)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(94)
|
Includes
10,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 10,805 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(95)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,050 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(96)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(97)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(98)
|
Includes
37,658 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 40,690 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(99)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(100)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(101)
|
Includes
150,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 162,075 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(102)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(103)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(104)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(105)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(106)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(107)
|
Includes
47,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 50,784 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(108)
|
Includes
20,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 21,610 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(109)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(110)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(111)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(112)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(113)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,050 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(114)
|
Includes
33,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 35,657 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(115)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(116)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(117)
|
Includes
1,000,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 1080,500 shares of common stock
issuable upon exercise of warrants, which includes warrants that are
issuable upon conversion of outstanding convertible secured
debentures.
|
||
(118)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(119)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(120)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(121)
|
Includes
10,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 10,805 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(122)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(123)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(124)
|
Includes
10,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 10,805 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(125)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 54,025 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(126)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 108,050 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(127)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 27,013 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(128)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(129)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(130)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(131)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(132)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(133)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(134)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(135)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(136)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 107,650 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(137)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(138)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(139)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(140)
|
Includes
30,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,295 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(141)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(142)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(143)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 107,650 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(144)
|
Includes
30,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 32,295 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(145)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(146)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(147)
|
Includes
10,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 10,765 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(148)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(149)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(150)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 107,650 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(151)
|
Includes
40,600 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 43,706 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(152)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(153)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 26,913 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(154)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(155)
|
Includes
500,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 538,250 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(156)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(157)
|
Includes
10,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 10,765 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(158)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(159)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 107,650 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(160)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 53,825 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(161)
|
Includes
28,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 30,142 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(162)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 313,800 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(163)
|
Includes
250,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 784,500 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(164)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 156,900 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(165)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 313,800 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(166)
|
Includes
10,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 31,380 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(167)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 313,800 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(168)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 156,900 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(169)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 156,900 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(170)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(171)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(172)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
(173)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(174)
|
Includes
20,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 62,760 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(175)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(176)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(177)
|
Includes
25,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 78,450 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(178)
|
Includes
100,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 313,800 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(179)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 156,900 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(180)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 156,900 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(181)
|
Includes
50,000 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 156,900 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(182)
|
Includes
37,600 shares of common stock issuable upon exercise of outstanding
convertible secured debentures and 117,990 shares of common stock issuable
upon exercise of warrants, which includes warrants that are issuable upon
conversion of outstanding convertible secured
debentures.
|
||
(183)
|
Represents
shares of common stock issuable upon exercise of outstanding common stock
purchase warrants.
|
|
||
Report
of Independent Registered Public Accounting Firm
|
F-1
|
|
Consolidated
Balance Sheets
|
F-2
|
|
Consolidated
Statements of Operations
|
F-3
|
|
Consolidated
Statements of Stockholders’ Deficit
|
F-4
|
|
Consolidated
Statements of Cash Flows
|
F-10
|
|
Notes
to Consolidated Financial Statements
|
F-14
|
September
30,
|
December
31,
|
|||||||||||
2009
|
2008
|
2007
|
||||||||||
[Unaudited]
|
||||||||||||
ASSETS
|
||||||||||||
Current
assets
|
||||||||||||
Cash
|
$ | 540,105 | $ | -- | $ | 143,288 | ||||||
Restricted
cash
|
1,600,000 | -- | -- | |||||||||
Prepaid expenses and other current
assets
|
350,924 | 10,441 | 41,820 | |||||||||
Deferred financing
costs
|
925,999 | -- | -- | |||||||||
Total current
assets
|
3,417,028 | 10,441 | 185,108 | |||||||||
Property
and equipment – net
|
174,770 | 53,879 | 5,708 | |||||||||
Other
assets
|
||||||||||||
Security
deposits
|
26,670 | 26,670 | 33,119 | |||||||||
Intangible assets –
net
|
88,393 | -- | -- | |||||||||
Deferred financing
costs
|
3,711,628 | -- | -- | |||||||||
Deferred debt
discount
|
-- | 740,000 | -- | |||||||||
Total other
assets
|
3,826,691 | 766,670 | 33,119 | |||||||||
Total
assets
|
$ | 7,418,489 | $ | 830,990 | $ | 223,935 | ||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
(DEFICIT)
|
||||||||||||
Current
liabilities
|
||||||||||||
Cash
overdraft
|
$ | -- | $ | 719 | $ | -- | ||||||
Accounts payable and accrued
expenses
|
1,536,184 | 721,029 | 190,806 | |||||||||
Convertible debt, net of debt
discount
|
250,000 | 2,136,839 | -- | |||||||||
Notes
payable
|
232,991 | 557,404 | 500,497 | |||||||||
Share
liability
|
7,543,978 | -- | -- | |||||||||
Total current
liabilities
|
9,563,153 | 3,415,991 | 691,303 | |||||||||
Convertible
debt
|
15,571,845 | -- | -- | |||||||||
Commitments
and contingencies
|
-- | -- | -- | |||||||||
Stockholders’
equity (deficit)
|
||||||||||||
Preferred stock; $.0001 par value,
5,000,000 shares authorized,
|
||||||||||||
issued and outstanding, none at
September 30, 2009 and
|
||||||||||||
December 31, 2008, 100 shares at
December 31, 2007
|
-- | -- | -- | |||||||||
Common stock; $.0001 par value,
200,000,000 shares
|
||||||||||||
authorized; issued and
outstanding, 33,614,963 shares
|
||||||||||||
at September 30, 2009, 3,390,522
shares at December 31, 2008
|
||||||||||||
2,071,078 shares at December 31,
2007
|
3,361 | 339 | 207 | |||||||||
Additional paid-in
capital
|
33,326,773 | 10,270,299 | 2,553,011 | |||||||||
Deficit accumulated during the
development stage
|
(51,046,643 | ) | (12,855,639 | ) | (3,020,586 | ) | ||||||
Total stockholders’ equity
(deficit)
|
(17,716,509 | ) | (2,585,001 | ) | (467,368 | ) | ||||||
Total liabilities and
stockholders’ equity (deficit)
|
$ | 7,418,489 | $ | 830,990 | $ | 223,935 |
Cumulative
|
||||||||||||||||||||
For
the Nine Months Ended
|
For
the Year Ended
|
from
inception
|
||||||||||||||||||
September
30,
|
December
31,
|
to
September 30,
|
||||||||||||||||||
2009
|
2008
|
2008
|
2007
|
2009
|
||||||||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
||||||||||||||||||
Revenue
|
$ | 10,684 | $ | 541 | $ | 716 | $ | -- | $ | 15,545 | ||||||||||
Expenses:
|
||||||||||||||||||||
Compensation
|
9,215,378 | 722,482 | 4,325,685 | 385,911 | 14,210,392 | |||||||||||||||
Professional
fees
|
667,099 | 224,509 | 282,706 | 29,379 | 1,098,410 | |||||||||||||||
Consulting
fees
|
3,807,485 | 330,460 | 3,107,370 | 1,034,155 | 8,122,150 | |||||||||||||||
Advertising and
promotion
|
2,329,037 | 151,055 | 188,555 | -- | 2,517,592 | |||||||||||||||
General and administrative –
other
|
1,926,073 | 674,492 | 828,763 | 365,382 | 3,472,743 | |||||||||||||||
Total
expenses
|
17,945,072 | 2,102,998 | 8,733,079 | 1,814,827 | 29,421,287 | |||||||||||||||
Loss
from operations
|
(17,934,388 | ) | (2,102,457 | ) | (8,732,363 | ) | (1,814,827 | ) | (29,405,742 | ) | ||||||||||
Other
income (expenses)
|
||||||||||||||||||||
Interest
income
|
8,168 | 4,555 | 4,555 | 9 | 12,732 | |||||||||||||||
Interest
expense
|
(1,553,368 | ) | (109,047 | ) | (168,374 | ) | -- | (1,725,422 | ) | |||||||||||
Amortization – debt
discount
|
(1,165,661 | ) | (205,014 | ) | (290,883 | ) | -- | (1,456,544 | ) | |||||||||||
Amortization – deferred financing
costs
|
(3,076,164 | ) | (611,692 | ) | (638,282 | ) | -- | (3,714,446 | ) | |||||||||||
Financing costs –
share-based
|
(14,443,749 | ) | -- | -- | -- | (14,443,749 | ) | |||||||||||||
Loss on impairment of
assets
|
-- | -- | -- | -- | (277,924 | ) | ||||||||||||||
Other
|
(25,842 | ) | (8,594 | ) | (9,706 | ) | -- | (35,548 | ) | |||||||||||
Total other (expenses) –
net
|
(20,256,616 | ) | (929,792 | ) | (1,102,690 | ) | 9 | (21,640,901 | ) | |||||||||||
Net
loss
|
$ | (38,191,004 | ) | $ | (3,032,249 | ) | $ | (9,835,053 | ) | $ | (1,814,818 | ) | $ | (51,046,643 | ) | |||||
Net
loss per common share – basic and diluted
|
$ | (1.94 | ) | $ | (1.45 | ) | $ | (4.67 | ) | $ | (1.27 | ) | ||||||||
Weighted
average common shares
|
||||||||||||||||||||
outstanding
– basic and diluted
|
19,728,096 | 2,090,172 | 2,105,191 | 1,433,223 |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Issuance
of common stock at inception
|
-- | $ | -- | 429,854 | $ | 44 | $ | 20,056 | $ | -- | $ | 20,100 | ||||||||||||||||
Net
loss
|
-- | -- | -- | -- | -- | (332,352 | ) | (332,352 | ) | |||||||||||||||||||
Balance
– December 31, 2004
|
-- | -- | 429,854 | 44 | 20,056 | (332,352 | ) | (312,252 | ) | |||||||||||||||||||
September
2005 - recapitalization - reverse acquisition into
|
||||||||||||||||||||||||||||
public
shell
|
-- | -- | 70,308 | 7 | 14,993 | -- | 15,000 | |||||||||||||||||||||
September
2005 - sale of common stock @ $23.80 per share
|
-- | -- | 2,434 | -- | 58,000 | -- | 58,000 | |||||||||||||||||||||
Net
loss
|
-- | -- | -- | -- | -- | (489,698 | ) | (489,698 | ) | |||||||||||||||||||
Balances
– December 31, 2005
|
-- | -- | 502,596 | 51 | 93,049 | (822,050 | ) | (728,950 | ) | |||||||||||||||||||
February
2006 - sale of common stock @ $23.80 per share
|
-- | -- | 420 | -- | 10,000 | -- | 10,000 | |||||||||||||||||||||
February
2006 - common stock issued for services @ $23.80
|
||||||||||||||||||||||||||||
per
share
|
-- | -- | 524 | -- | 12,500 | -- | 12,500 | |||||||||||||||||||||
April
2006 - sale of common stock @ $23.80 per share
|
-- | -- | 420 | -- | 10,000 | -- | 10,000 | |||||||||||||||||||||
May
2006 - common stock issued for compensation @ $23.80
|
||||||||||||||||||||||||||||
per
share
|
-- | -- | 1,049 | -- | 25,000 | -- | 25,000 | |||||||||||||||||||||
June
2006 - common stock issued for services @ $23.80 per share
|
-- | -- | 420 | -- | 10,000 | -- | 10,000 | |||||||||||||||||||||
August
2006 - sale of common stock $23.80 per share
|
-- | -- | 1,091 | -- | 25,993 | -- | 25,993 | |||||||||||||||||||||
Totals – Forward
|
-- | $ | -- | 506,520 | $ | 51 | $ | 186,542 | $ | (822,050 | ) | $ | (635,457 | ) |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Totals –
Forwarded
|
-- | $ | -- | 506,520 | $ | 51 | $ | 186,542 | $ | (822,050 | ) | $ | (635,457 | ) | ||||||||||||||
August
2006 - common stock issued for services @
|
||||||||||||||||||||||||||||
$23.80
per share
|
-- | -- | 2,884 | -- | 68,730 | -- | 68,730 | |||||||||||||||||||||
October
2006 - sale of common stock @ $23.80
|
-- | -- | 63 | -- | 1,500 | -- | 1,500 | |||||||||||||||||||||
per
share
|
||||||||||||||||||||||||||||
October
2006 - common stock issued for payables @
|
||||||||||||||||||||||||||||
$23.80
per share
|
-- | -- | 9,686 | 1 | 230,878 | -- | 230,879 | |||||||||||||||||||||
October & November 2006 -
restructuring and purchase
|
||||||||||||||||||||||||||||
and
retirement of common stock
|
-- | -- | (2,009 | ) | -- | 17,611 | -- | 17,611 | ||||||||||||||||||||
Net
loss
|
-- | -- | -- | -- | -- | (383,718 | ) | (383,718 | ) | |||||||||||||||||||
Balances
– December 31, 2006
|
-- | -- | 517,144 | 52 | 505,261 | (1,205,768 | ) | (700,455 | ) | |||||||||||||||||||
January
2007 - sale of common stock @ $23.80 per
|
-- | -- | 3,146 | -- | 75,000 | -- | 75,000 | |||||||||||||||||||||
Share
|
||||||||||||||||||||||||||||
April
2007 - common stock issued for services
|
-- | -- | 420 | -- | 10,000 | -- | 10,000 | |||||||||||||||||||||
$23.80
per share
|
||||||||||||||||||||||||||||
April
2007 - sale of common stock $23.80 per share
|
-- | -- | 42 | -- | 1,000 | -- | 1,000 | |||||||||||||||||||||
May
2007 - common stock issued for services $23.80
|
||||||||||||||||||||||||||||
per
share
|
-- | -- | 501 | -- | 11,934 | -- | 11,934 | |||||||||||||||||||||
Total – Forward
|
-- | $ | -- | 521,253 | $ | 52 | $ | 603,195 | $ | (1,205,768 | ) | $ | (602,521 | ) |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Totals –
Forwarded
|
-- | $ | -- | 521,253 | $ | 52 | $ | 603,195 | $ | (1,205,768 | ) | $ | (602,521 | ) | ||||||||||||||
May
2007 - exchange of CEO common for preferred
|
12,100 | 1 | (316,605 | ) | (32 | ) | 31 | -- | -- | |||||||||||||||||||
May
2007 - conversion of preferred to common
|
(12,000 | ) | (1 | ) | 1,200,000 | 120 | (119 | ) | -- | -- | ||||||||||||||||||
May
2007 - sale of common stock – rights offering @ $0.20
|
||||||||||||||||||||||||||||
per
share
|
-- | -- | 151,939 | 15 | 30,373 | -- | 30,388 | |||||||||||||||||||||
May
2007 - common stock issued for services @
|
||||||||||||||||||||||||||||
$3.75
per share
|
-- | -- | 189,685 | 19 | 711,295 | -- | 711,314 | |||||||||||||||||||||
May
2007 - common stock issued for compensation
|
||||||||||||||||||||||||||||
@
$3.75 per share
|
-- | -- | 50,000 | 5 | 187,495 | -- | 187,500 | |||||||||||||||||||||
July
– September 2007 - sale of common stock –
|
||||||||||||||||||||||||||||
Private
Placement @ $3.75 per share
|
-- | -- | 274,806 | 28 | 1,030,472 | -- | 1,030,500 | |||||||||||||||||||||
July
– September 2007 - offering costs related to
|
||||||||||||||||||||||||||||
private
placement
|
-- | -- | -- | -- | (194,270 | ) | -- | (194,270 | ) | |||||||||||||||||||
August
2007 – issuance of warrants for services
|
-- | -- | -- | -- | 184,539 | -- | 184,539 | |||||||||||||||||||||
Net
loss
|
-- | -- | -- | -- | -- | (1,814,818 | ) | (1,814,818 | ) | |||||||||||||||||||
Balances
– December 31, 2007 – Forward
|
100 | $ | -- | 2,071,078 | $ | 207 | $ | 2,553,011 | $ | (3,020,586 | ) | $ | (467,368 | ) |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Balances
– December 31, 2007 – Forwarded
|
100 | $ | -- | 2,071,078 | $ | 207 | $ | 2,553,011 | $ | (3,020,586 | ) | $ | (467,368 | ) | ||||||||||||||
February
2008 – common stock issued for services $5.00 per share
|
-- | -- | 10,000 | 1 | 49,999 | -- | 50,000 | |||||||||||||||||||||
February
through May 2008 – issuance of convertible debt
|
||||||||||||||||||||||||||||
with
beneficial conversion features
|
-- | -- | -- | -- | 207,543 | -- | 207,543 | |||||||||||||||||||||
March
2008 – common stock issued for services $5.00 per share
|
-- | -- | 20,000 | 2 | 99,998 | -- | 100,000 | |||||||||||||||||||||
April
2008 – issuance of warrants for financing
|
-- | -- | -- | -- | 256,157 | -- | 256,157 | |||||||||||||||||||||
August
2008 – common stock returned for related party debt
@ $5.00 per share
|
-- | -- | (27,956 | ) | (3 | ) | (139,777 | ) | -- | (139,780 | ) | |||||||||||||||||
September
2008 – common stock issued for services @ $5.50 per share
|
-- | -- | 13,000 | 1 | 71,499 | -- | 71,500 | |||||||||||||||||||||
October
2008 – issuance of convertible debt with common stock
|
||||||||||||||||||||||||||||
and
beneficial conversion feature
|
-- | -- | 50,000 | 5 | 274,995 | -- | 275,000 | |||||||||||||||||||||
November
2008 – issuance of common stock for convertible
|
||||||||||||||||||||||||||||
debt
@ $5.00 per share
|
-- | -- | 4,400 | 1 | 21,999 | -- | 22,000 | |||||||||||||||||||||
December
2008 – cancellation of series B preferred stock
|
(100 | ) | -- | -- | -- | -- | -- | -- | ||||||||||||||||||||
December
2008 – sale and issuance of common stock with bridge
|
||||||||||||||||||||||||||||
financing
@ $5.50 per share
|
-- | -- | 750,000 | 75 | 4,124,925 | -- | 4,125,000 | |||||||||||||||||||||
December
2008 – common stock issued for services @ $5.50 per share
|
-- | -- | 500,000 | 50 | 2,749,950 | -- | 2,750,000 | |||||||||||||||||||||
Net
loss
|
-- | -- | -- | -- | -- | (9,835,053 | ) | (9,835,053 | ) | |||||||||||||||||||
Balances
– December 31, 2008
|
-- | $ | -- | 3,390,522 | $ | 339 | $ | 10,270,299 | $ | (12,855,639 | ) | $ | (2,585,001 | ) |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Balances
– December 31, 2008 - Forward
|
-- | $ | -- | 3,390,522 | $ | 339 | $ | 10,270,299 | $ | (12,855,639 | ) | $ | (2,585,001 | ) | ||||||||||||||
February
2009 – issuance of common stock for services with
|
||||||||||||||||||||||||||||
bridge
financing @ $1.00 per share
|
-- | -- | 550,000 | 55 | 549,945 | -- | 550,000 | |||||||||||||||||||||
February
2009 – issuance of common stock with
|
||||||||||||||||||||||||||||
bridge
financing @ $1.00 per share, recorded as debt discount
|
-- | -- | 195,000 | 20 | 194,980 | -- | 195,000 | |||||||||||||||||||||
February
2009 – issuance of common stock for cash with
|
||||||||||||||||||||||||||||
bridge financing @ $1.00 per share
|
-- | -- | 5,000 | -- | 5,000 | -- | 5,000 | |||||||||||||||||||||
February
2009 – issuance of common stock as consideration for
|
||||||||||||||||||||||||||||
bridge
financing amendment agreement @ $1.00 per share
|
-- | -- | 1,500,000 | 150 | 1,499,850 | -- | 1,500,000 | |||||||||||||||||||||
February
2009 – common stock issued for financing costs @
|
||||||||||||||||||||||||||||
$1.00
per share
|
-- | -- | 200,000 | 20 | 199,980 | -- | 200,000 | |||||||||||||||||||||
February
2009 – amortization of common stock issued for services
|
||||||||||||||||||||||||||||
@
$1.00 per share, currently held in escrow
|
-- | -- | 13,814,000 | 1,381 | 4,603,286 | -- | 4,604,667 | |||||||||||||||||||||
March
2009 – issuance of common stock for services with bridge
|
||||||||||||||||||||||||||||
financing
@ $1.00 per share
|
-- | -- | 35,001 | 4 | 34,997 | -- | 35,001 | |||||||||||||||||||||
March
2009 – issuance of common stock with bridge
|
||||||||||||||||||||||||||||
financing
@ $1.00 per share, recorded as debt discount
|
-- | -- | 63,999 | 6 | 63,993 | -- | 63,999 | |||||||||||||||||||||
March
2009 – issuance of common stock for cash at
|
||||||||||||||||||||||||||||
@
$1.00 per share
|
-- | -- | 1,000 | -- | 1,000 | -- | 1,000 | |||||||||||||||||||||
Total
– forward
|
-- | -- | 19,754,522 | $ | 1,975 | $ | 17,423,330 | $ | (12,855,639 | ) | $ | 4,569,666 |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Balances
– December 31, 2008
|
-- | -- | 19,754,522 | $ | 1,975 | $ | 17,423,330 | $ | (12,855,639 | ) | $ | 4,569,666 | ||||||||||||||||
April
2009 – common stock issued for extension of debt
|
||||||||||||||||||||||||||||
agreements
@ $1.00 per share
|
-- | -- | 433,041 | 43 | 432,998 | -- | 433,041 | |||||||||||||||||||||
April
2009 – common stock issued for financing costs @ $1.00 per
share
|
-- | -- | 750,000 | 75 | 749,925 | -- | 750,000 | |||||||||||||||||||||
April
2009 – common stock issued for consulting services
|
||||||||||||||||||||||||||||
@
$1.00 per share
|
-- | -- | 2,400,000 | 240 | 2,399,760 | -- | 2,400,000 | |||||||||||||||||||||
April
2009 – common stock issued to board of directors
|
||||||||||||||||||||||||||||
for
services @ $1.00 per share
|
-- | -- | 2,250,000 | 225 | 2,249,775 | -- | 2,250,000 | |||||||||||||||||||||
April
2009 – issuance of warrants for financing costs
|
-- | -- | -- | -- | 1,458,196 | -- | 1,458,196 | |||||||||||||||||||||
April
2009 – issuance of warrants for consulting services
|
-- | -- | -- | -- | 91,772 | -- | 91,772 | |||||||||||||||||||||
May
2009 – issuance of warrants for financial costs
|
-- | -- | -- | -- | 238,533 | -- | 238,533 | |||||||||||||||||||||
May
2009 – issuance of common stock as consideration for
bridge
|
||||||||||||||||||||||||||||
financing
amendment agreement @ $1.00 per share
|
-- | -- | 600,000 | 60 | 599,940 | -- | 600,000 | |||||||||||||||||||||
June
2009 – issuance of warrants for financing costs
|
-- | -- | -- | -- | 184,532 | -- | 184,532 | |||||||||||||||||||||
July
2009 – common stock and warrants issued for accrued
|
||||||||||||||||||||||||||||
interest
expense @$1.00 per share
|
-- | -- | 527,629 | 53 | 527,576 | -- | 527,629 | |||||||||||||||||||||
February
– September 2009 – warrants issued for
|
||||||||||||||||||||||||||||
consulting
services
|
-- | -- | -- | -- | 71,355 | -- | 71,355 | |||||||||||||||||||||
Total
– forward
|
-- | $ | -- | 26,715,192 | $ | 2,671 | $ | 26,427,692 | $ | (12,855,639 | ) | $ | 13,574,724 |
Deficit
|
||||||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||||||
Additional
|
in
the
|
|||||||||||||||||||||||||||
Preferred
Stock
|
Common
Stock
|
Paid-in
|
Development
|
|||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||||||||
Total
– forwarded
|
-- | $ | -- | 26,715,192 | $ | 2,671 | $ | 26,427,692 | $ | (12,855,639 | ) | $ | 13,574,724 | |||||||||||||||
September
2009 – common stock issued for financing costs @
|
||||||||||||||||||||||||||||
$1.00
per share
|
-- | -- | 6,899,771 | 690 | 6.899,081 | -- | 6,899,771 | |||||||||||||||||||||
Net
loss
|
-- | -- | -- | -- | -- | (38,191,004 | ) | (38,191,004 | ) | |||||||||||||||||||
Balances
– September 30, 2009 [Unaudited]
|
-- | $ | -- | 33,614,963 | $ | 3,361 | $ | 33,326,773 | $ | (51,046,643 | ) | $ | (17,716,509 | ) |
Cumulative
|
||||||||||||||||||||
For
the Nine Months Ended
|
For
the Year Ended
|
from
Inception
|
||||||||||||||||||
September
30,
|
December
31,
|
to
September 30,
|
||||||||||||||||||
2009
|
2008
|
2008
|
2007
|
2009
|
||||||||||||||||
[Unaudited]
|
[Unaudited]
|
[Unaudited]
|
||||||||||||||||||
Operating
activities:
|
||||||||||||||||||||
Net loss
|
$ | (38,191,004 | ) | $ | (3,032,249 | ) | $ | (9,835,053 | ) | $ | (1,814,818 | ) | $ | (51,046,643 | ) | |||||
Adjustments to reconcile net loss
to net
|
||||||||||||||||||||
cash used in operating
activities:
|
||||||||||||||||||||
Compensation – share
based
|
7,439,668 | 50,000 | 3,450,000 | 187,500 | 11,102,168 | |||||||||||||||
Consulting fees – share
based
|
2,563,127 | 171,500 | 2,921,500 | 917,807 | 6,503,644 | |||||||||||||||
Depreciation and
amortization
|
16,576 | 5,714 | 7,960 | 455 | 24,991 | |||||||||||||||
Amortization – debt
discount
|
1,165,661 | 205,014 | 290,883 | -- | 1,456,544 | |||||||||||||||
Amortization – deferred finance
costs
|
3,076,164 | 611,692 | 638,282 | -- | 3,714,446 | |||||||||||||||
Financing costs –
share-based
|
14,443,749 | -- | -- | -- | 14,443,749 | |||||||||||||||
Loss on impairment of
assets
|
-- | -- | -- | -- | 277,924 | |||||||||||||||
Changes in assets and
liabilities:
|
||||||||||||||||||||
Prepaid expenses and other
current assets
|
(350,483 | ) | (97,992 | ) | 41,379 | (41,820 | ) | (350,924 | ) | |||||||||||
Accounts payable and accrued
expenses
|
1,693,547 | 283,450 | 452,349 | (9,172 | ) | 2,535,582 | ||||||||||||||
Net cash used in operating
activities
|
(8,142,995 | ) | (1,802,871 | ) | (2,032,700 | ) | (760,048 | ) | (11,338,519 | ) | ||||||||||
Investing
activities:
|
||||||||||||||||||||
Acquisition of property and
equipment
|
(135,860 | ) | (56,131 | ) | (56,131 | ) | (6,163 | ) | (199,537 | ) | ||||||||||
Payments for website development
costs
|
(90,000 | ) | -- | -- | -- | (90,000 | ) | |||||||||||||
Investment in restricted
cash
|
(1,600,000 | ) | -- | -- | -- | (1,600,000 | ) | |||||||||||||
Payments for lease security
deposits
|
-- | -- | -- | (33,119 | ) | (33,119 | ) | |||||||||||||
Amortization of lease security
deposit
|
-- | 13,453 | 6,449 | -- | 6,449 | |||||||||||||||
Net cash used in investing
activities
|
(1,825,860 | ) | (42,678 | ) | (49,682 | ) | (39,282 | ) | (1,916,207 | ) | ||||||||||
Cumulative
|
||||||||||||||||||||
For
the Nine Months Ended
|
For
the Year Ended
|
from
Inception
|
||||||||||||||||||
September
30,
|
December
31,
|
to
September 30,
|
||||||||||||||||||
2009
|
2008
|
2008
|
2007
|
2009
|
||||||||||||||||
[Unaudited]
|
[Unaudited]
|
[Unaudited]
|
||||||||||||||||||
Financing
activities
|
||||||||||||||||||||
Proceeds from convertible
debt
|
$ | 14,541,580 | $ | 2,075,500 | $ | 2,325,500 | $ | -- | $ | 16,867,080 | ||||||||||
Deferred financing
costs
|
(2,349,489 | ) | (382,125 | ) | (382,125 | ) | -- | (2,731,614 | ) | |||||||||||
Payments on convertible
debt
|
(1,373,999 | ) | -- | -- | -- | (1,373,999 | ) | |||||||||||||
Proceeds from issuance of common
stock
|
16,000 | -- | -- | 1,136,888 | 1,258,381 | |||||||||||||||
Offering costs
|
-- | -- | -- | (194,270 | ) | (194,270 | ) | |||||||||||||
Cash overdraft
|
(719 | ) | 8,886 | 719 | -- | -- | ||||||||||||||
Proceeds from notes
payable
|
-- | -- | -- | -- | 258,566 | |||||||||||||||
Payments on notes
payable
|
(324,413 | ) | -- | (5,000 | ) | -- | (329,413 | ) | ||||||||||||
Capital
contributions
|
-- | -- | -- | -- | 40,100 | |||||||||||||||
Net cash provided by financing
activities
|
10,508,960 | 1,702,261 | 1,939,094 | 942,618 | 13,794,831 | |||||||||||||||
Net
increase (decrease) in cash
|
540,105 | (143,288 | ) | (143,288 | ) | 143,288 | 540,105 | |||||||||||||
Cash
– beginning of period
|
-- | 143,288 | 143,288 | -- | -- | |||||||||||||||
Cash
– end of period
|
$ | 540,105 | $ | -- | $ | -- | $ | 143,288 | $ | 540,105 | ||||||||||
Cumulative
|
||||||||||||||||||||
For
the Nine Months Ended
|
For
the Year Ended
|
from
Inception
|
||||||||||||||||||
September
30,
|
December
31,
|
to
September 30
|
||||||||||||||||||
2009
|
2008
|
2008
|
2007
|
2009
|
||||||||||||||||
[Unaudited]
|
[Unaudited]
|
[Unaudited]
|
||||||||||||||||||
Supplemental
disclosure of cash flow information:
|
||||||||||||||||||||
Cash paid during the period
for:
|
||||||||||||||||||||
Interest
|
$ | 78,882 | $ | -- | $ | -- | $ | -- | $ | 78,882 | ||||||||||
Income
taxes
|
-- | -- | -- | -- | -- | |||||||||||||||
Supplemental
schedule of noncash investing and financing
activities:
|
||||||||||||||||||||
Debt discount allocated to
beneficial conversion features
|
$ | 998,999 | $ | 207,544 | $ | 457,543 | $ | -- | $ | 1,456,542 | ||||||||||
Deferred debt discount from stock
issuance
|
-- | -- | 740,000 | -- | 740,000 | |||||||||||||||
Deferred financing costs from
stock and warrant issuances
|
5,364,302 | 256,157 | 256,157 | -- | 5,620,459 | |||||||||||||||
Debt and accrued interest
exchanged for new debt
|
2,029,264 | -- | -- | -- | 2,029,264 | |||||||||||||||
Accounts payable exchanged for
debt
|
-- | 56,907 | 56,907 | -- | 56,907 | |||||||||||||||
Restructuring
and purchase and retirement of common stock
|
||||||||||||||||||||
for
debt
|
-- | -- | -- | -- | 17,611 | |||||||||||||||
Common stock returned by officer
for debt
|
-- | 139,780 | 139,780 | -- | 139,780 | |||||||||||||||
Common stock and warrants issued
for accrued interest expense
|
527,629 | -- | -- | -- | 527,629 | |||||||||||||||
Debt
converted into common stock
|
-- | -- | 22,000 | -- | 252,879 | |||||||||||||||
Acquisition of technology and
notes payable
|
-- | -- | -- | -- | 152,541 | |||||||||||||||
Due from former
parent
|
-- | -- | -- | -- | 124,000 | |||||||||||||||
Debentures
payable
|
-- | -- | -- | -- | (124,000 | ) |
September30,
|
December
31,
|
Estimated
|
|||||||||||
2009
|
2008
|
2007
|
Useful Lives
|
||||||||||
[Unaudited]
|
|||||||||||||
Computer
Equipment
|
$ | 61,591 | $ | 17,590 | $ | 6,163 |
5
years
|
||||||
Furniture
and Fixtures
|
103,605 | 30,714 | -- |
7-10
years
|
|||||||||
Software
|
32,958 | 13,990 | -- |
3-5
years
|
|||||||||
Total
|
198,154 | 62,294 | 6,163 | ||||||||||
Less:
Accumulated Depreciation
|
|||||||||||||
And
Amortization
|
(23,384 | ) | (8,415 | ) | (455 | ) | |||||||
$ | 174,770 | $ | 53,879 | $ | 5,708 |
September
30,
|
December
31,
|
|||||||||||
2009
|
2008
|
2007
|
||||||||||
[Unaudited]
|
||||||||||||
Website
development
|
$ | 90,000 | $ | -- | $ | -- | ||||||
Less:
accumulated depreciation
|
(1,607 | ) | -- | -- | ||||||||
Net
|
$ | 88,393 | $ | -- | $ | -- |
September
30,
|
||||
2010
|
$ | 12,900 | ||
2011
|
12,900 | |||
2012
|
12,900 | |||
2013
|
12,900 | |||
Thereafter
|
23,893 | |||
$ | 88,393 |
Twelve
Months Ended September 30,
|
||||
2010
|
$ | 925,999 | ||
2011
|
2,058,846 | |||
2012
|
1,652,782 | |||
Total
|
$ | 4,637,627 |
September
30,
|
December
31,
|
|||||||||||
2009
|
2008
|
2007
|
||||||||||
[Unaudited]
|
||||||||||||
Note
payable – noninterest bearing
|
||||||||||||
originally
maturing August 15, 2006,
|
||||||||||||
past
due and due on demand
|
$ | 124,251 | $ | 124,251 | $ | 124,251 | ||||||
Notes
payable – others
|
||||||||||||
noninterest
bearing due on demand
|
108,740 | 356,732 | 356,732 | |||||||||
$ | 232,991 | $ | 480,983 | $ | 480,983 |
September 30, 2009
|
December 31, 2008
|
December 31, 2007
|
||||||||||
Dividend
Yield
|
-- | % | -- | % | -- | % | ||||||
Risk-Free
Interest Rate
|
0.89% - 2.54 | % | 3.50 | % | 3.5 | % | ||||||
Expected
Life
|
1.5
- 2.5 Years
|
5
Years
|
10
Years
|
|||||||||
Expected
Volatility
|
120.33%-125.08 | % | 105.2 | % | 114.9 | % |
September
30, 2009
|
December
31, 2008
|
December
31, 2007
|
||||||||||||||||||||||
[Unaudited]
|
||||||||||||||||||||||||
Weighted
|
Weighted
|
Weighted
|
||||||||||||||||||||||
Average
|
Average
|
Average
|
||||||||||||||||||||||
Exercise
|
Exercise
|
Exercise
|
||||||||||||||||||||||
Shares
|
Price
|
Shares
|
Price
|
Shares
|
Price
|
|||||||||||||||||||
Outstanding
at:
|
||||||||||||||||||||||||
Beginning
|
109,653 | $ | 3.04 | 50,000 | $ | 0.10 | -- | -- | ||||||||||||||||
Granted
|
3,841,998 | $ | 1.50 | 59,653 | $ | 5.50 | 50,000 | $ | 0.10 | |||||||||||||||
Expired/Cancelled
|
-- | -- | -- | -- | -- | -- | ||||||||||||||||||
Outstanding
at end
|
3,951,651 | $ | 1.54 | 109,653 | $ | 3.04 | 50,000 | $ | 0.10 |
Warrants Outstanding | Exercisable | |||||||||||||||||||||
Exercise Price | Number Outstanding |
Weighted-
Average
Remaining
Contractual
Life
(In
Years)
|
Weighted
Average
Exercise
Price
|
Number Exercisable | Weighted
Average
Exercise
Price
|
|||||||||||||||||
$ | 0.10 | 50,000 | 7.83 | $ | 0.10 | 50,000 | $ | 0.10 | ||||||||||||||
$ | 5.50 | 59,653 | 3.54 | $ | 5.50 | 59,653 | $ | 5.50 | ||||||||||||||
$ | 1.50 | 3,841,998 | 4.52 | $ | 1.50 | 3,841,998 | $ | 1.50 |
Warrants Outstanding | Exercisable | |||||||||||||||||||||
Weighted- | ||||||||||||||||||||||
Average | ||||||||||||||||||||||
Remaining
|
Weighted | Weighted | ||||||||||||||||||||
Contractual
|
Average | Average | ||||||||||||||||||||
Number | Life | Exercise | Number | Exercisable | ||||||||||||||||||
Exercise Price | Outstanding | (in Years) | Price | Exercise | Price | |||||||||||||||||
$ | 0.10 | 50,000 | 8.58 | $ | 0.10 | 50,000 | $ | 0.10 | ||||||||||||||
$ | 5.50 | 59,653 | 4.29 | $ | 5.50 | 59,653 | $ | 5.50 |
Warrants Outstanding | Exercisable | |||||||||||||||||||||
Weighted- | ||||||||||||||||||||||
Average | ||||||||||||||||||||||
Remaining
|
Weighted | Weighted | ||||||||||||||||||||
Contractual
|
Average | Average | ||||||||||||||||||||
Number | Life | Exercise | Number | Exercisable | ||||||||||||||||||
Exercise Price | Outstanding | (in Years) | Price | Exercise | Price | |||||||||||||||||
$ | 0.10 | 50,000 | 9.58 | $ | 0.10 | 50,000 | $ | 0.10 |
Year
Ended December 31,
|
Employment | Leases | ||||||
2009
|
$ | 162,500 | $ | 106,287 | ||||
2010
|
150,000 | 108,056 | ||||||
2011
|
150,000 | 109,678 | ||||||
2012
|
150,000 | 109,678 | ||||||
2013
|
12,500 | 9,140 | ||||||
Total
|
$ | 625,000 | $ | 442,840 |
SEC
Registration fee
|
$
5,108.76
|
|||
Accounting
fees and expenses
|
50,000.00
|
*
|
||
Legal
fees and expenses
|
100,000.00
|
*
|
||
Miscellaneous
|
5,000.00
|
*
|
||
TOTAL
|
$
|
160,108.76
|
*
|
|
Exhibit No. | Description |
3.01
|
Articles
of Incorporation and amendments thereto, filed as an exhibit to the
registration statement on Form S-1, filed with the Securities and Exchange
Commission on December 18, 2009 and incorporated herein by
reference.
|
3.02
|
Amended
and restated bylaws, filed as an exhibit to the registration statement on
Form S-1, filed with the Securities and Exchange Commission on December
18, 2009 and incorporated herein by reference.
|
4.01
|
Form
of Senior Secured Debenture, filed as an exhibit to the registration
statement on Form S-1, filed with the Securities and Exchange Commission
on December 18, 2009 and incorporated herein by
reference.
|
4.02
|
Form
of Subordinated Secured Debenture, filed as an exhibit to the registration
statement on Form S-1, filed with the Securities and Exchange Commission
on December 18, 2009 and incorporated herein by
reference.
|
4.03
|
Form
of Senior Warrant, filed as an exhibit to the registration statement on
Form S-1, filed with the Securities and Exchange Commission on December
18, 2009 and incorporated herein by reference.
|
4.04
|
Form
of Subordinated Warrant, filed as an exhibit to the registration statement
on Form S-1, filed with the Securities and Exchange Commission on December
18, 2009 and incorporated herein by reference.
|
5.01
|
Opinion
of Sichenzia Ross Friedman Ference LLP.
|
10.01
|
Employment
Agreement, dated as of February 1, 2008, by and between AMBER Ready and
Frank DelVecchio, filed as an exhibit to the registration statement on
Form S-1, filed with the Securities and Exchange Commission on December
18, 2009 and incorporated herein by reference.
|
10.02
|
Amendment
to Employment Agreement, dated as of September 14, 2009, by and between
AMBER Ready and Frank DelVecchio, filed as an exhibit to the registration
statement on Form S-1, filed with the Securities and Exchange Commission
on December 18, 2009 and incorporated herein by
reference.
|
10.03
|
Common
Stock Purchase Agreement, dated as of December 30, 2008, by and between
Amber Alert Safety Centers, Inc. and John Thomas Bridge & Opportunity
Fund, L.P., filed as an exhibit to the registration statement on Form S-1,
filed with the Securities and Exchange Commission on December 18, 2009 and
incorporated herein by reference.
|
10.04
|
Registration
Rights Agreement, dated as of December 30, 2008, by and between Amber
Alert Safety Centers, Inc. and John Thomas Bridge & Opportunity Fund,
L.P., filed as an exhibit to the registration statement on Form S-1, filed
with the Securities and Exchange Commission on December 18, 2009 and
incorporated herein by reference.
|
10.05
|
Purchase
Agreement, dated as of December 30, 2008, by and between Amber Alert
Safety Centers, Inc. and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.06
|
Form
of Secured Convertible Debenture, issued December 30,
2008
|
10.07
|
Security
Agreement, dated as of December 30, 2008, by and between Amber Alert
Safety Centers, Inc. and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.08
|
Amendment
Agreement, dated as of February 18, 2009, by and between Amber Ready, Inc.
and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.09
|
Common
Stock Purchase Agreement, dated as of February 25, 2009, by and between
Amber Ready, Inc. and John Thomas Bridge & Opportunity Fund, L.P.,
filed as an exhibit to the registration statement on Form S-1, filed with
the Securities and Exchange Commission on December 18, 2009 and
incorporated herein by reference.
|
10.10
|
Registration
Rights Agreement, dated as of February 25, 2009, by and between Amber
Ready, Inc. and John Thomas Bridge & Opportunity Fund, L.P., filed as
an exhibit to the registration statement on Form S-1, filed with the
Securities and Exchange Commission on December 18, 2009 and incorporated
herein by reference.
|
10.11
|
Purchase
Agreement, dated as of February 25, 2009, by and between Amber Ready, Inc.
and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.12
|
Form
of Secured Convertible Debenture, issued February 25,
2009
|
10.13
|
Amendment
No. 2 to the Security Agreement, dated as of February 25, 2009, by and
between Amber Ready, Inc. and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.14
|
Amendment
No. 1 to Registration Rights Agreement Dated December 30, 2008, dated as
of March 17, 2009, by and between Amber Ready, Inc. and John Thomas Bridge
& Opportunity Fund, L.P.
|
10.15
|
Amendment
No. 1 to Registration Rights Agreement Dated February 25, 2009, dated as
of March 17, 2009, by and between Amber Ready, Inc. and John Thomas Bridge
& Opportunity Fund, L.P.
|
10.16
|
Common
Stock Purchase Agreement, dated as of March 19, 2009, by and between Amber
Ready, Inc. and John Thomas Bridge & Opportunity Fund, L.P., filed as
an exhibit to the registration statement on Form S-1, filed with the
Securities and Exchange Commission on December 18, 2009 and incorporated
herein by reference.
|
10.17
|
Registration
Rights Agreement, dated as of March 19, 2009, by and between Amber Ready,
Inc. and John Thomas Bridge & Opportunity Fund, L.P., filed as an
exhibit to the registration statement on Form S-1, filed with the
Securities and Exchange Commission on December 18, 2009 and incorporated
herein by reference.
|
10.18
|
Purchase
Agreement, dated as of March 19, 2009, by and between Amber Ready, Inc.
and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.19
|
Form
of Secured Convertible Debenture, issued March 19,
2009
|
10.20
|
Amendment
No. 3 to the Security Agreement, dated as of March 19, 2009, by and
between Amber Ready, Inc. and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.21
|
Registration
Rights Agreement, dated as of April 21, 2009, by and between Amber Ready,
Inc. and the subscribers therein, filed as an exhibit to the registration
statement on Form S-1, filed with the Securities and Exchange Commission
on December 18, 2009 and incorporated herein by
reference.
|
|
10.22
|
Security
Agreement, dated as of April 21, 2009, by and between Amber Ready, Inc.
and Hudson Asset Partners, LLC, as collateral agent, filed as an exhibit
to the registration statement on Form S-1, filed with the Securities and
Exchange Commission on December 18, 2009 and incorporated herein by
reference.
|
10.23
|
Collateral
Agent Agreement, dated as of April 21, 2009, by and between Amber Ready,
Inc. and Hudson Asset Partners, LLC, filed as an exhibit to the
registration statement on Form S-1, filed with the Securities and Exchange
Commission on December 18, 2009 and incorporated herein by
reference.
|
10.24
|
Trademark
Collateral Assignment and Security Agreement, dated as of April 21, 2009,
by Amber Ready, Inc. in favor of Hudson Asset Partners, LLC, filed as an
exhibit to the registration statement on Form S-1, filed with the
Securities and Exchange Commission on December 18, 2009 and incorporated
herein by reference.
|
10.25
|
Control
Account Agreement, dated as of April 21, 2009, by and among Amber Ready,
Inc., Hudson Asset Partners, LLC and Signature Bank, filed as an exhibit
to the registration statement on Form S-1, filed with the Securities and
Exchange Commission on December 18, 2009 and incorporated herein by
reference.
|
10.26
|
Form
of Patterson Guarantee, dated as of April 1,
2009
|
10.27
|
Pledge
and Security Agreement, dated as of April 1, 2009, by and between Kai
Patterson and John Thomas Financial, Inc.
|
10.28
|
Escrow
Agreement, dated as of April 1, 2009, by and among Kai Patterson, John
Thomas Financial, Inc., and Meister Seelig & Fein
LLP
|
10.29
|
Consulting
Agreement, dated as of April 21, 2009, by and between Amber Ready, Inc.
and John Thomas Financial, Inc., filed as an exhibit to the registration
statement on Form S-1, filed with the Securities and Exchange Commission
on December 18, 2009 and incorporated herein by
reference.
|
10.30
|
Registration
Rights Agreement, dated as of June 30, 2009, by and between Amber Ready,
Inc. and the subscribers therein, filed as an exhibit to the registration
statement on Form S-1, filed with the Securities and Exchange Commission
on December 18, 2009 and incorporated herein by
reference.
|
10.31
|
Security
Agreement, dated as of June 30, 2009, by and between Amber Ready, Inc. and
Hudson Asset Partners, LLC, as collateral agent, filed as an exhibit to
the registration statement on Form S-1, filed with the Securities and
Exchange Commission on December 18, 2009 and incorporated herein by
reference.
|
10.32
|
Collateral
Agent Agreement, dated as of June 30, 2009, by and between Amber Ready,
Inc. and Hudson Asset Partners, LLC, filed as an exhibit to the
registration statement on Form S-1, filed with the Securities and Exchange
Commission on December 18, 2009 and incorporated herein by
reference.
|
10.33
|
Trademark
Collateral Assignment and Security Agreement, dated as of April 21, 2009,
by Amber Ready, Inc. in favor of Hudson Asset Partners, LLC, filed as an
exhibit to the registration statement on Form S-1, filed with the
Securities and Exchange Commission on December 18, 2009 and incorporated
herein by reference.
|
10.34
|
Form
of First Amendment to Security Agreement and 18% Secured Convertible Note,
dated as of January 11, 2010
|
10.35
|
Common
Stock Purchase Agreement, dated as of December 18, 2009, by and between
Amber Ready, Inc. and John Thomas Bridge & Opportunity Fund,
L.P.
|
10.36
|
Common
Stock Purchase Agreement, dated as of December 18, 2009, by and between
Amber Ready, Inc. and John Thomas Bridge & Opportunity Fund II,
L.P.
|
10.37
|
Form
of Unsecured Debenture
|
10.38
|
Form
of Lease, by and between Amber Alert Safety Centers, Inc. and Emerald
Holdings Group L.L.C.
|
23.01
|
Consent
of GBH CPAs, PC.
|
23.02
|
Opinion
of Sichenzia Ross Friedman Ference LLP (contained in Exhibit
5.1).
|
24.01
|
Power
of Attorney, filed as an exhibit to the registration statement on Form
S-1, filed with the Securities and Exchange Commission on December 18,
2009 and incorporated herein by
reference.
|
Date: February 8, 2010
|
By: /s/ FRANK
DELVECCHIO
|
Frank
DelVecchio
|
|
Chief
Executive Officer (Principal Executive Officer, Principal Financial
Officer and Principal Accounting Officer) and
Director
|
Signature
|
Title
|
Date
|
||
*
Frank
DelVecchio
|
Chief
Executive Officer (Principal Executive Officer, Principal Financial
Officer and Principal Accounting Officer) and Director
|
February
8, 2010
|
||
*
William
Schutze
|
Chairman
of the Board and Director
|
February
8, 2010
|
||
Robert
Christie
|
Director
|
|||
*
James
Garner
|
Director
|
February 8, 2010 | ||
*
Milton
Makris
|
Director
|
February
8, 2010
|
||
*
Suzanne
Stanford
|
Director
|
February
8, 2010
|
||
Kai
D. Patterson
|
Director
|
* By:
/s/ FRANK
DELVECCHIO
|
|
|||
Frank
DelVecchio
|
|
|||
Attorney-in-fact
|
|