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PREFERRED STOCK
6 Months Ended
Jun. 30, 2014
Notes to Financial Statements  
Note 7. 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, of which 1,000 shares were issued and outstanding as of June 30, 2014 and December 31, 2013.

 

Series D Convertible Preferred Stock

 

The Company has authorized 3,600,000 shares of Series D Convertible Preferred Stock, of which 1,000,000 shares were issued and outstanding as of June 30, 2014 and December 31, 2013.

 

Series E Convertible Preferred Stock

 

The Company has authorized 1,748,613 shares of Series E Convertible Preferred Stock, all of which were issued and outstanding as of June 30, 2014 and December 31, 2013.