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CAPITAL STOCK
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6 Months Ended |
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Mar. 31, 2013
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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 common shares for proceeds of $100,000.
On November 30, 2012, the Company received notice from a former director to exercise 160,871 options using the net exercise feature in the option. Accordingly, the Company issued 92,527 common shares.
In March 2013, the Company received notices of exercise for 109,136 warrants at an exercise price ranging from $0.55 to $1.19. Accordingly, the Company issued 109,136 common shares for proceeds of $76,682.
On March 27, 2013, the Company received notice from a former director to exercise 386,094 options using the net exercise feature in the option. Accordingly, the Company issued 237,420 common shares.
On March 27, 2013, the Company received notices of cashless exercise for 2,448,000 Class I warrants. Accordingly, the Company issued 1,664,830 common shares.
As of December 31, 2012, the Company has collected the subscription receivable of $11,891. |
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- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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