Year
Ending December 31, 2016
During
the year ended December 31, 2016, the Company issued an aggregate of 15,213,449 shares of its common stock as follows:
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The Company issued
14,913,449 shares of its common stock upon the conversion of $1,491,000 in convertible notes pursuant to the convertible notes
conversion price of $0.10 per share. |
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The Company also
issued 300,000 shares of common stock to consultants for services rendered with a fair value of $48,000 which is included
as part of Operating Expenses in the accompanying consolidated statements of operations. The shares were valued at the trading
price at the date of issuance. |
Year
Ending December 31, 2015
During
the year ended December 31, 2015, the Company issued an aggregate of 2,803,333 shares of its common stock as follows:
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The Company issued
2,603,333 shares of its common stock upon the conversion of $669,000 in convertible notes pursuant to the convertible notes
conversion price ranging from $0.10 to $0.48 per share. |
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The Company issued
200,000 shares of its common stock upon exercise of warrants at price of $0.25 per share for total cash proceeds of at $50,000. |
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