| Stockholders' Equity Note Disclosure [Text Block] |
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8.
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Common
Stock Transactions
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Issuances
of Common Stock-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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During
2011, 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 to $0.60 per share.
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During
2011 the Company issued 19,861,478 shares of its
common stock in exchange for conversion of
$4,965,370 of Convertible Notes. The
Company valued the shares at $0.25 pursuant to the
terms of the convertible note agreement.
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During
2011, 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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During
2011, the Company issued 81,020 shares of its
common stock for cashless exercise of
warrants.
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Issuances
of Common Stock-2010
During
the year ended December 31, 2010 the Company issued an
aggregate of 20,163,798 shares of its common stock as
follows:
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During
2010, the Company issued 3,710,099 shares of its
common stock for services valued in the aggregate
at $1,385,137. The Company valued the shares at
prices ranging from $0.43 to $0.48 per
share.
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During
2010, the Company issued 170,000 shares of its
common stock to its employees as compensation
valued in the aggregate $91,700. The
Company valued the shares at prices ranging from
$0.52 to $0.55 per share.
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During
2010, the Company issued 12,121 shares of its
common stock to settle $4,121 of outstanding
accounts payable. The Company valued the
shares at $0.34 per share.
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During
2010, the Company issued 16,076,023 shares of its
common stock (including 224,751 shares issued to
induce conversion of certain notes valued at
$119,118) in exchange for conversion of
$4,417,417 of Convertible Notes. The
Company valued the shares at prices ranging from
$0.15 to $0.50.
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During
2010, the Company issued 195,555 shares of its
common stock for exercised options valued at
$.027.
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