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11. ISSUABLE COMMON STOCK
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
11. ISSUABLE COMMON STOCK

11. ISSUABLE COMMON STOCK

 

During 2013 the Board of Directors authorized the issuance of 23,371,111 shares of common stock that were not issued until after December 31, 2013. These authorizations were 11,911,111 shares for $217,500 of cash, 6,660,000 shares of common stock in payment of services amounting to $121,500, 1,400,000 shares of common stock in payment of accounts payable of $30,000 and 3,400,000 shares in payment of notes payable and accrued interest of $169,720. As of December 31, 2014 740,000 shares of the authorized shares, amounting to $16,000 had not been issued.