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COMMON STOCK
12 Months Ended
Dec. 31, 2011
CommonStockAbstract  
COMMON STOCK
NOTE 9. 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 December 31, 2011 there were 9,414,926 common shares issued and outstanding.

Each share of the Company's common stock is entitled to equal dividends and distributions per share with respect to the common stock when, as and if declared by the Company's board of directors.  No holder of any shares of the Company's common stock has a preemptive right to subscribe for any of the Company's securities, nor are any shares of the Company's common stock subject to redemption or convertible into other securities.  Upon liquidation, dissolution or winding-up of the Company and after payment of creditors and preferred shareholders of the Company, if any, the assets of the Company will be divided pro rata on a share-for-share basis among the holders of the Company's common stock.  Each share of the Company's common stock is entitled to one vote, except with respect to the election of one (1) of the Company's directors by the Company's Series A Preferred Stock (described below under note 10) holder.  Shares of the Company's common stock do not possess any cumulative voting rights.
 
During the year ending December 31, 2011 there were 249,077 shares of the Company's Series A Preferred Stock converted into the Company's common stock and warrants and options to purchase 195,000 shares of the Company's common stock were exercised for cash proceeds of $306,250. In addition, 600,000 shares of the Series B Preferred Stock were converted into shares of the Company's common stock as discussed in Note 10.