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5. Capital stock
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9 Months Ended |
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Sep. 30, 2011
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| Stockholders' Equity Note Disclosure [Text Block] |
5. Capital
stock
During
the nine months ended September 30, 2011, the Company
issued 18,809,542 shares of common stock in
exchange for conversion of $4,702,368 of Convertible
Notes.
During
the nine months ended September 30, 2011, the Company issued
81,020 shares of common stock upon cashless exercise of
224,000 warrants.
During
the nine months ended September 30, 2011, the Company issued
77,778 shares of common stock upon exercise of options at
$0.27 per share and valued at $21,000.
During
the nine months ended September 30, 2011, the Company issued
2,550,000 shares of common stock for consulting services.
These shares were valued at $799,500 based on the trading
price at the date of the agreement.
During
the nine months ended September 30, 2011, the Company granted
but did not issue 250,000 shares of common stock for
consulting services. These shares were valued at $62,500
based on the trading price at the date of the agreement and
are reflected as common stock issuable in the accompanying
Financial Statements.
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- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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