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COMMON STOCK
9 Months Ended
Sep. 30, 2011
Common Stock 
COMMON STOCK

NOTE 7. COMMON STOCK

 

The total number of authorized shares of the Company’s common stock is 750,000,000 shares, $0.001 par value per share. As of September 30, 2011 there were 9,239,398 common shares issued and outstanding.

 

During the nine months ending September 30, 2011 there were 223,549 shares of the Company's Series A Preferred Stock converted into the Company's common stock and warrants and options to purchase 45,000 shares of the Company's common stock were exercised for cash proceeds of $6,250. In addition, 600,000 shares of the Series B Preferred Stock were converted into the Company's common stock as discussed in note 8.

 

During September 2011, $300,000 was received for warrants to purchase 150,000 shares that were in the process of being exercised for shares of common stock, but which have not been issued as of September 30, 2011.