9. Issuance of Common Shares

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

8. Issuance of Common Shares

During the quarter ended March 31, 2014, the Company issued 8,860,489 restricted common shares at a price of $0.12 per share in a series of private placements for a gross financing amount of $1,063,259. Of which, net cash proceeds of $796,441 were received and $266,818 was derived from the conversion of principal and accrued interest on existing notes with several investors.

During the quarter ended June 30, 2014, the Company sold 500,000 shares restricted common shares at a price of $0.12 per share in a private placement with an investor for a gross financing amount of $60,000. As of June 30, 2014, the shares had not been issued.

We did not issue any employee options during the three and six months ended June 30, 2014.

During the three and six months ended June 30, 2014, we did not issue any common stock warrants.