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Subsequent Events
9 Months Ended
Sep. 30, 2011
Subsequent Events [Abstract] 
Subsequent Events

NOTE 9 – SUBSEQUENT EVENTS

For the purpose of this disclosure we have evaluated potential subsequent events through the date these financial statements were issued, November 18, 2011. Other than the event described below, no events were identified that in our opinion require accounting recognition or disclosure in these financial statements.

On November 14, 2011, we issued a convertible promissory note for cash in the amount of $700,000 to a note holder that had also provided funding to us in August 2011. The note matures in May 2013 and bears interest at 14% payable quarterly. The note is convertible at any time into 2.8 million shares of our common stock at a conversion price of $0.25 per share. We also issued warrants to the investor to purchase our common stock. One warrant was issued for each $2 of principal loaned, or 350,000 warrants in total. The warrants have a term of five years and may be exercised at a price of $0.44 per share of common stock.

On November 8, 2011, we issued a promissory note to in the amount of $1.0 million to a major stockholder. The note is unsecured, matures on May 8, 2013, and bears interest at 14%, payable quarterly. We will use the proceeds for general working capital and other corporate purposes.