XML 21 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
NOTE 3 - PRIVATE PLACEMENT OF EQUITY
9 Months Ended
Sep. 30, 2014
Equity [Abstract]  
NOTE 3 - PRIVATE PLACEMENT OF EQUITY

 

NOTE 3 - PRIVATE PLACEMENTS OF EQUITY

 

During the nine months ended September 30, 2014, the Company issued 3,128,592 common shares by converting $424,375 of the convertible notes payable into common stock.

 

During the nine months ended September 30, 2014, the Company issued an aggregate of 450,000 shares of common stock as payment for services rendered with an aggregate value of $63,300. The Company also recognized stock issued for services in the amount of $12,609 for shares issued in year 2013 but amortized in this period.

 

During the nine months ended September 30, 2014, the Company issued 63,526 shares to an officer of the company as payment for an accrued expense in the amount of $9,625.

 

During the nine months ended September 30, 2013, the Company sold 875,000 common shares for a cash investment of $87,500. The company received $10,000 for stock issued in 2012 and recorded as subscription receivable.

 

During the nine months ended September 30, 2013, the Company raised $120,000 with the exercise of warrants covering 800,000 shares of its common stock at a price of $0.15 per share.

 

During the nine months ended September 30, 2013, 100,000 stock options were exercised at a price of $0.11 per share for cash proceeds of $11,000.

 

During the nine months ended September 30, 2013, the Company issued an aggregate of 7,675,800 shares of common stock as payment for services rendered with an aggregate value of $2,609,332, $160,867 of which was recorded as deferred compensation as of September 30, 2013.

 

During the nine months ended September 30, 2013, the Company issued 1,500,000 common shares for a cash investment of $150,000 which was received in 2012. The shares were not issued as of December 31, 2012, and were recorded as common stock subscribed but not yet issued at December 31, 2012.