Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS EQUITY (DEFICIT)

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STOCKHOLDERS EQUITY (DEFICIT)
3 Months Ended
Mar. 31, 2013
Equity [Abstract]  
STOCKHOLDERS EQUITY (DEFICIT)

NOTE 9 – STOCKHOLDERS EQUITY (DEFICIT)

 

During the year ended December 31, 2012, the Company issued 1,317,276 common shares for total cash proceeds of $466,500.

 

During the year ended December 31, 2012, the Company issued 188,300 common shares for services. Fair market value for the shares was determined by taking the average share price for each cash-for-stock purchase in the period and ranged from $0.34 to $0.37. The Company recorded a total expense of $65,251.

 

On or about March 31, 2013, the Company issued 6,000 common shares for total cash proceeds of $3,000.

 

During the quarter ended March 31, 2013, the Company issued 500,000 shares of common stock for services. The shares were valued at $0.50 per share for a total expense of $250,000. Fair market value for the shares was determined by taking the average share price for each cash-for-stock purchase in the period.

 

During the quarter ended March 31, 2013, the Company issued 100,980 shares of common stock for accrued rent, current period rent expense and prepaid rent (see Note 7).