8. Loss on Settlement of Debt
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6 Months Ended | ||
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Jun. 30, 2013
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Loss On Settlement Of Debt | |||
Note 8. Loss on Settlement of Debt |
In March 2013, the Company settled a debt incurred in prior year amounting to $147,328 for $85,000 plus a warrant to purchase 150,000 shares of common stock with a fair value of $129,622 (see Note 5, above). As a result, the Company also recognized a loss of $67,294 on the settlement. |