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PREFERRED STOCK
3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
Note 6. PREFERRED STOCK

 The Company is authorized to issue up to 40,000,000 shares of preferred stock with such rights, preferences and privileges as are determined by the Board of Directors.

 

Series C Convertible Preferred Stock 

 

 The Company has authorized 10,000 shares of Series C Preferred Stock (the “Series C Stock”), of which 9,974.185 shares were issued and outstanding as of March 31, 2013 and December 31, 2012.

 

Series D Convertible Preferred Stock

 

 The Company has authorized 3,600,000 shares of Series D Preferred Stock (the “Series D Stock”), of which 3,006,000 shares were issued and outstanding as of March 31, 2013 and December 31, 2012.