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Corrections for Duplicative Stock Issuance
6 Months Ended
Jun. 30, 2011
Corrections for Duplicative Stock Issuance

12. CORRECTION FOR DUPLICATIVE STOCK ISSUANCE

 

On January 13, 2010, we inadvertently issued a total of 10,000,000 shares of common stock to two of our directors who had previously been issued a total of 10,000,000 shares of common stock in December 2009. The duplicative issuance did not affect the directors’ reporting of their actual stock holdings. However, the duplicative stock issuance was recorded in our financial statements and reported on Form 10-Q for the period ended March 31, 2010. We have reversed the expense item attributed to the duplicative stock issuance which results in a decrease in our expenses of $300,000.