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Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events

14. Subsequent Events

 

In the first quarter of 2012, the Company received $50,000 from LPC in exchange for 166,667 shares of the Company’s common stock. LPC was also issued 2,084 shares of the Company’s common stock as a commitment fee in connection with the purchase of the 166,667 shares of common stock. No warrants to purchase additional shares of common stock of the Company were issued to Lincoln in connection with the sale of the common stock.

 

In the first quarter of 2012, the Company entered into an agreement with PondelWilkinson, Inc., a Beverley Hills based investor relations firm, for services related to a campaign to increase individual and retail investor awareness of the Company. The agreement calls for the Company for services on an hourly basis as they are delivered.

 

In March of 2012 the Company entered into a Placement Agent Agreement for the sale of up to $2 million in shares of the Company’s common stock through a private placement.