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CAPITAL STOCK
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3 Months Ended |
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Dec. 31, 2012
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| Capital Stock | |
| CAPITAL STOCK |
NOTE 5 – CAPITAL STOCK
On October 5, 2012, the Company received notice of conversion from two holders of its Series B preferred shares for the conversion of 138,889 preferred shares into common shares. The conversion rate for the preferred shares is one to one into common shares. Accordingly, the Company issued 138,889 common shares.
On October 24, 2012, the Company received notice of exercise for 200,000 warrants at an exercise price of $0.50. Accordingly, the Company issued 200,000 shares of common stock for proceeds of $100,000.
On
November 30, 2012, the Company received notice from a former director to exercise 160,871 options to purchase common
stock using the net exercise feature in the option. Accordingly, the Company issued 92,527 shares of common stock.
As of December 31, 2012, the company has collected the subscription receivable of $11,891.
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