| 8. Common Stock Transactions |
2013
In
December 2013, the Company’s stockholders agreed to increase the authorized shares of common stock of the Company from 200,000,000
to 300,000,000. During the year ended December 31, 2013, the Company issued an aggregate of 32,575,247 shares of its common stock
as follows:
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The
Company issued 29,152,389 shares of its common stock upon exercise of options and warrants
at a price of $0.25 up to $0.98 with proceeds of $8,477,218, net of direct costs in the
amount of $78,521 in commissions and foreign exchange fees paid on warrants exercised
by foreign (non-U.S.) investors. Furthermore, included in the exercise was issuance of
50,000 shares of common stock valued at $49,000 pursuant to an exercise of options and
accounted for as partial settlement of unpaid fees recorded in prior years. As a result,
the aggregate net proceeds received amounted to $8,428,218. |
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The
Company issued 50,000 shares of its common stock with a fair value of $49,000 or $0.98/share
to a consultant for service rendered. The shares were valued at market at the date of
the agreement. |
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The
Company issued 325,455 shares of its common stock with a fair value of $370,113 or $1.14/share
to Directors, Officers and Employees of the Company for service rendered. The shares
were valued at market at the date of issuance. |
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In
December 2013, the Company issued 3,047,403 shares of common stock with a fair value
of $3,108,347 pursuant to a settlement with CEDE & Co (see Note 12). |
2012
During
the year ended December 31, 2012, the Company issued an aggregate of 29,394,100 shares of its common stock as follows:
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The
Company issued 14,305,156 shares of its common stock in exchange for conversion of $3,789,634
of Convertible Notes pursuant to the convertible notes conversion prices of $0.25 up
to $0.40 per share. |
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The
Company issued 11,787,277 shares of its common stock for exercise of warrants at an average
price of $0.28 and valued at $3,317,181. |
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The
Company issued 2,525,000 shares of our common stock for services valued in the aggregate
at $1,228,250. We valued the shares at market prices at the date of the agreements ranging
from $0.30 to $1.07 per share. |
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The
Company issued 776,667 shares of its common stock upon exercise of options valued at
$0.27 up to $0.30 per share with an aggregate value of $364,700. |
2011
During
the year ended December 31, 2011 the Company issued an aggregate of 22,820,276 shares of its common stock as follows:
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The
Company issued 19,861,478 shares of its common stock in exchange for conversion of $4,965,370
of Convertible Notes pursuant to the convertible notes conversion prices of $0.25 per
share. |
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The
Company issued 81,020 shares of its common stock for cashless exercise of warrants. |
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The
Company issued 2,800,000 shares of its common stock for services valued in the aggregate
at $862,000. The Company valued the shares at the trading price at the date of the agreements
ranging from $0.25 up to $0.60 per share. |
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The
Company issued 77,778 shares of its common stock for exercised options valued at $0.27
per share or $21,000. |
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