XML 32 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
5. Series A Convertible Preferred Stock (Details) (USD $)
9 Months Ended
Sep. 30, 2013
Jun. 03, 2013
Details    
Preferred stock, shares issued 987,102 987,102
(Gain) on Series A convertible preferred stock issued in exchange for indebtedness $ 401,004  
Convertible Preferred Stock, Terms of Conversion The shares of Series A convertible preferred stock are convertible into common shares of the Company at the rate of one share of common stock per share of Series A convertible preferred stock.  
Preferred Stock, Participation Rights The holders of shares of the Series A convertible preferred stock are entitled to receive, when and as declared by the Company’s board of directors, dividends in cash in the amount of one cent per share per annum through December 31, 2016, five cents per share per annum through December 31, 2017, six cents per share per annum through December 31, 2018, seven cents per share per annum through December 31, 2019, eight cents per share per annum through December 31, 2020, nine cents per share per annum through December 31, 2021, ten cents per share per annum through December 31, 2022, eleven cents per share per annum through December 31, 2023, and twelve cents per share per annum thereafter, payable within 90 days following the 31st day of December each year on such date as determined by the board of directors. The dividends are cumulative and beginning January 1, 2017, the board of directors of the Company may elect to make any required dividend payment with the Company’s unregistered common stock in lieu of cash.