Note 3. Common Stock

6 Months Ended

Jun. 30, 2011

Stockholders' Equity Note Disclosure [Text Block]

3. Common Stock.  The shareholders have authorized 100,000,000 shares of voting common shares for issuance.  On June 30, 2011, a total of 82,466,042 shares of common stock were either outstanding (61,609,446) or reserved for issuance upon exercise of options and warrants or conversion of convertible preferred stock or conversion of debt (20,856,596).  Common stock issuances in the first and second quarters of 2011 are as follows:

Common Stock Issued in Q1 2011	Shares		Issue Price		Net Price
Directors, officers, consultants plan – services		62,222	$	0.09	$	5,600
Total Common Stock Issued in Q1 2011		62,222	$	0.09	$	5,600

Common Stock Issued in Q2 2011	Shares		Issue Price		Net Price
Directors, officers, consultants plan – services		400,000	$	0.055-0.065	$	35,000
Total Common Stock Issued in Q2 2011		400,000	$	0.055-0.065	$	35,000

No brokerage commissions were paid for the sale of common stock during the first or second quarters of 2011.

On March 8, 2011, the Company renewed the Consulting Contract with Caprock Consulting Group to render services through Kimball Austin Miller, M.D. as Medical Director pertaining to achieving recognition of ABI’s technology as treatment or prevention of human diseases.  The terms and conditions of the renewed contract remain the same as the previous contract for the same period of 2010.

On March 8 2011, the Company and Dr. Miller executed the Non-Qualified Stock Option Agreement evidencing the grant of options under the Consulting Agreement referenced above between the Company and Dr. Miller. The Company granted 100,000 options with a 2 year term and a $0.075 exercise price, with a fair value of $7,280, vesting quarterly during 2011.

On June 1, 2011, the Company and Edward L. Morris executed a consulting agreement whereby Mr. Morris would render general consulting services in the area of regulatory compliance to the Company subject to his availability.  The compensation agreed to by the parties consists of the grant of 200,000 shares of ABI voting common stock each month during the term of the contract. The shares are to be registered by the Company on Form S-8.

On June 22, 2011, the Company granted Kimball Miller 200,000 shares of ABI voting common stock for consulting services and will grant Dr. Miller 200,000 shares monthly for a total of 5 months for consulting services. The shares are to be registered by the Company on Form S-8. In July and August 2011, an additional 400,000 shares have been issued.

On June 22, 2011, the Company entered into a consulting agreement with Claudia Walters for services rendered beginning in July 2011, subject to her availability, in the area of corporate finance.  In exchange for those services, the Consultant shall be compensated by the grant of 200,000 shares of ABI voting common stock.  The first grant was to occur upon execution of the Agreement and an additional 200,000 shares each month during the contract period.  The first 400,000 shares were to be issued immediately and the balance of the shares is to be common stock registered on Form S-8. The Company recognized $11,000 expense in June 2011 for the initial 200,000 shares which were issued in July 2011.

The Company entered into an agreement on June 27, 2011 with Rui Figueiredo for the purpose of providing multimedia services to the Company for a six-month period beginning in July 2011 in exchange for 3,246,753 shares of ABI common stock registered on Form S-8.

On June 27, 2011, the Company entered into an agreement with Interactive Business Alliance, LLC for consultation and rendering of public relations and communications services for a period of six months beginning in July 2011.  For consultation services rendered, the Company agreed to pay 1,250,000 shares of Rule 144 Restricted AMAR stock.