10-Q
2012-09-30
false
BEAMZ INTERACTIVE INC
0001423357
--06-30
14520082
Smaller Reporting Company
Yes
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No
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<!--egx--><p style="MARGIN:0in 0in 0pt 32pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Note 1</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Nature of Corporation</b> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Beamz Interactive, Inc. (the "Company") was incorporated in the State of Delaware in 2001. The Company's operations consist of the development and sales of an interactive laser controller technology (the “<b>Beamz</b>”) that can be used to develop new market opportunities in a wide variety of music, game and consumer applications throughout the world.</p> <p style="MARGIN:0in 0in 0pt 32pt; TEXT-ALIGN:justify"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Note 2 Summary of Significant Accounting Policies and Use of Estimates </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"> </p> <p style="MARGIN:0in 0in 0pt"><b>Presentation of Interim Information</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The condensed financial statements included herein have been prepared by Beamz Interactive, Inc. (“we”, “us”, “our” or “Company”) without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements as of June 30, 2012 and 2011. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, as permitted by the SEC, although we believe the disclosures, which are made, are adequate to make the information presented not misleading. Further, the condensed financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to present fairly our financial position at September 30, 2012, and the results of our operations and cash flows for the periods presented. The June 30, 2012 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Interim results may be subject to seasonal variations and the results of operations for the three months ended September 30, 2012 are not necessarily indicative of the results to be expected for the full year.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Use of Estimates</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to establish accounting policies and make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements. These financial statements include estimates and assumptions that are based on informed judgments and the experience of management. Significant estimates include, but are not limited to, collectability of accounts receivable, the allowance for obsolete inventory, and valuation of stock issuances, stock-based compensation and warrants. We evaluate our policies and estimates on an on-going basis and discuss the development, selection and disclosure of critical accounting policies with the Company's Audit Committee. Predicting future events is inherently an imprecise activity and as such requires the use of judgment. Our financial statements may differ materially based upon different estimates and assumptions.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">We discuss our significant accounting policies to our financial statements below. Our significant accounting policies are subject to judgments and uncertainties that affect the application of such policies. We believe these financial statements include the most likely outcomes with regard to amounts that are based on our judgment and estimates. Our financial position and results of operations may be materially different when reported under different conditions or when using different assumptions in the application of such policies. In the event estimates or assumptions prove to be different from the actual amounts, adjustments are made in subsequent periods to reflect more current information. We believe the following accounting policies are critical to the preparation of our financial statements due to the estimation process and business judgment involved in their application.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Fair Value of Financial Instruments</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">In determining the fair value of its financial instruments, the Company uses a variety of methods and assumptions that are based on market conditions and risks existing as of each balance sheet date. The Company’s financial instruments include cash and cash equivalents, deposits, and debt and approximate fair value based on their short maturities or the effective interest rate. All methods of measuring fair value are based on Level 3 inputs, and result in a general approximation of value since valuations are inherently not precise.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Stock-Based Compensation and Warrants</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">We use the Black-Scholes pricing model as a method for determining the estimated fair value for all stock options and warrants awarded to employees, officers, directors, investors, and consultants. We apply judgment in estimating key assumptions that are important elements in the model and in expensing stock options and warrants, such as the expected stock-price volatility, expected term, stock value on the date of grant, and expected forfeiture rates. Our estimates of these important assumptions are based on historical data and judgment regarding market trends and factors.If actual results are not consistent with our assumptions and judgments used in estimating these factors, we may be required to record additional stock-based compensation expense, which could be material to our results of operations. We have not historically issued any dividends and we do not expect to in the future. We use the graded vesting attribution method to recognize compensation costs over the requisite service period for grants to employees and directors.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Cash and Cash Equivalents</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Cash equivalents are considered to be all highly liquid investments purchased with an initial maturity, at time of purchase, of three (3) months or less.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Accounts Receivable, Net</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Accounts receivable represents amounts earned but not collected in connection with the Company's sales. Trade receivables are carried at their estimated collectible amounts and are generally unsecured. Trade credit is generally extended on a short-term basis, thus trade receivables do not bear interest.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">The Company provides an allowance for doubtful accounts based upon an individual review of the accounts outstanding, as well as the prior history of bad debts. Accounts are considered past due or delinquent based on contractual terms, recent payment activity, and our judgment of collectability. As of September 30, 2012 and June 30, 2012, an allowance has been provided for potentially uncollectible accounts receivable and product returns in the amounts of $51,818 and $44,425, respectively. Bad debt expense for the three months ended September 30, 2012 and 2011 was $2,964 and $5,919, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Prepaid Expenses</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Prepaid expenses represent payments for consulting, development, and director fees and are being amortized to expense on a straight-line basis over the related contract periods.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Inventory, Net</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Inventory consists primarily of finished products and materials and supplies. Inventory is stated at the lower of cost or market. Cost is determined by using the first-in, first-out method. The Company periodically reviews its inventory and makes provisions for damaged or obsolete inventory.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">At September 30, 2012 and June 30, 2012 inventory is comprised of the following:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="80%" style="WIDTH:80%" cellpadding="0" cellspacing="0"> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>September 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>June 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">(Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Finished goods</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">113,211</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">131,372</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Marketing and media</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">14,728</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">14,130</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">127,939</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">145,502</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Less: allowance for obsolescence</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,286</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,286</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Net inventory</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">121,653</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">139,216</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Research and Development</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Expenditures for research activities relating to product development and improvement are charged to expense as incurred. Such expenditures amounted to $113,648 and $59,680 for the three months ended September 30, 2012 and 2011, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Software development costs are expensed as incurred until technological feasibility has been established, at which time such costs are capitalized until the product is available for general release to customers. To date, the Company’s software has been available for general release to customers and, accordingly, no development costs have been capitalized.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Software development costs incurred and included in research and development expense noted above totaled $2,430 and $18,608 for the three months ended September 30, 2012 and 2011, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Advertising Costs</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Advertising costs are expensed as incurred and are included in sales and marketing expenses on the accompanying statements of operations. Advertising expense totaled $60,835 and $28,082 for the three months ended September 30, 2012 and 2011, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Revenue Recognition</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Revenues are recognized when a contract has been entered into or an order placed, the price is fixed, shipment of the products to the customer has occurred, or the transfer of title, if later, and collection is reasonably assured. Amounts billed to a customer related to shipping or handling charges are included in revenues. </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Provisions for sales discounts and rebates to customers are recorded, based upon the terms of sales contracts, in the same period the related sales are recorded, as a reduction to the sale. Sales discounts and rebates are offered to certain customers to promote customer loyalty and encourage greater product sales. The Company also provides an allowance for sales returns, that is estimated based upon prior experience. As of September 30, 2012 and 2011, the allowance was $4,919 and $19,289, respectively.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Property and Equipment</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Property and equipment are stated at cost. Depreciation is provided for on the straight-line method over the following estimated useful lives:</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Maintenance and repairs that neither materially add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Betterments or renewals are capitalized when incurred. For the three months ended September 30, 2012 and 2011 depreciation expense was $150 and $207, respectively.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Concentration of Credit Risk</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Management maintains the Company’s cash and cash equivalents in bank accounts, which at times may exceed federally insured limits. The Company has not experienced any losses in such accounts, and Management believes the Company is not exposed to any significant credit risk on cash and cash equivalents. As of September 30, 2012 there are no balances that exceeded federally insured limits.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">During the three months ended September 30, 2012 the Company had one customer that represented approximately 82% of net sales. The Company had approximately $84,200 in accounts receivable at September 30, 2012 from this customer. During the three months ended September 30, 2011, the Company had one customer representing approximately 69% of net sales. The Company had accounts receivable of approximately $106,400 at September 30, 2011 from this customer.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">During the three months ended September 30, 2012, the Company had no significant vendors, although we still rely on one principal supplier. During the three months ended September 30, 2011, the Company had one vendor representing approximately 21% of purchases. If purchases from this vendor was disrupted, particularly at certain critical times during the year, our sales could be adversely affected in the short term until alternative supply arrangements could be established.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Recent Accounting Pronouncements</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended September 30, 2012, that are of significance, or potential significance, to us.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Per Share Data</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Net loss per share (EPS) of common stock is computed based upon the weighted-average number of common shares outstanding during the year. Net loss equates to loss available to common stockholders as there is no dividend accrued for preferred stock. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Basic and diluted EPS were the same for the three months ended September 30, 2012 and 2011, as the Company had losses from operations during both periods and therefore the effect of all potential common stock equivalents is anti-dilutive (reduces loss per share). Stock options and warrants representing 1,754,337 and 63,024 shares of Common Stock were outstanding at September 30, 2012 and 2011, respectively, with exercise prices ranging from $.02 to $1.00 per share. Additionally, there were 827,940 and 800,440 shares of Series D preferred stock outstanding at September 30, 2012 and 2011, respectively, that were convertible into common stock on a 1 for 10 basis.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Income Taxes</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Deferred tax assets and liabilities arise from temporary timing differences between the book and tax basis of accounting for assets, liabilities, and income as well as from timing in the recognition of net operating losses. Deferred income tax assets primarily arise from net operating loss carryforwards and deferred income tax liabilities are based on the different depreciation and amortization methods used for tax reporting and financial accounting purposes. The Company assesses its ability to realize deferred tax assets based on the current earnings performance and on projections of future taxable income in the relevant tax jurisdictions. These projections do not include taxable income from the reversal of deferred tax liabilities and do not reflect a general growth assumption but do consider known or pending events, such as the passage of legislation. The Company’s estimates of future taxable income are reviewed annually. All tax positions are first analyzed to determine if the weight of available evidence indicates that it is more likely than not that the position will be sustained under audit, including resolution of any related appeals or litigation processes. After the initial analysis, the tax benefit is measured as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Our income tax returns are subject to adjustment under audit for approximately the last four years.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">If the Company is required to pay interest on the underpayment of income taxes, the Company recognizes interest expense in the first period the interest becomes due according to the provisions of the relevant tax law.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">If the Company is subject to payment of penalties, the Company recognizes an expense for the amount of the statutory penalty in the period when the position is taken on the income tax return. If the penalty was not recognized in the period when the position was initially taken, the expense is recognized in the period when the Company changes its judgment about meeting minimum statutory thresholds related to the initial position taken.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Liquidity</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The accompanying unaudited condensed financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs, which raises doubts about the ability of the Company to continue as a going concern. In order to continue as a going concern, the Company will need to generate additional revenue and obtain additional capital to fund its operating losses and service its obligations. Management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding and long term financing, which will enable the Company to operate for the coming year, though there can be no assurance that the Company’s efforts will be successful. The condensed financial statements do not include any adjustments that might result from the outcome of these uncertainties.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Note 3</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Commitments</b> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During March 2009, the Company entered into a consulting agreement for business and product development. The contract provided for the issuance of Series C Preferred Stock and Notes in the amount of $50,000 to be earned on a month-to-month basis through the term of the agreement. In addition, the agreement provided for monthly payments of $4,000 beginning July 2009 and will automatically renew for successive one year periods unless terminated by the parties. During the year ended June 30, 2012 the parties agreed to an increase in the payments to $10,000 per month. The agreement may be terminated up to 60 days prior to a renewal term.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The Company is a party to various licensing agreements with regards to music and video content and the use and sale of same with its product and through its website. The agreements have varying terms and include royalties based on the sales or use of the aforementioned licenses. The terms range from a royalty equal to 17.5% to 25% of the net revenues or a floor rate of $.15 to $.30 per record in each electronic transmission record. For the three month periods ended September 30, 2012 and 2011, royalty fees under these licenses were approximately $900 and $1,800, respectively, and are included in cost of sales on the statement of operations.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During October, 2010, the Company entered into a consulting agreement for the performance of the duties of Engineering and Supply Chain Manager, terminating December 2011. The consulting fee was at a rate of $7,729 per month commencing November 2010, plus bonuses to be paid based on the achievement of certain goals. In addition, the consultant received 18,034 shares of common stock and debt valued at $12,023. The agreement was subsequently extended through December 31, 2012. Future payments on the contract for the year ended September 30, 2013 are approximately $21,000.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During May, 2011 the Company formed a partnership (the Beamz Cypher Partnership, LLC) with Cypher Entertainment, Inc. (Cypher). Simultaneously, the Company entered into a ten (10) year license agreement with Beamz Cypher Partnership, LLC granting a worldwide, non-exclusive right and license to develop, modify and/or manufacture the Beamz Products and any additional products approved by the Company. On August 30, 2012 the Company restructured its licensing arrangement with Cypher by terminating its joint venture in favor of entering into a license agreement directly with Cypher (the “Cypher License Agreement”) and the release, by both parties, of any past financial obligations in addition to the issuance of 25,000 shares of Series D preferred stock (Note 5). Pursuant to the Cypher License Agreement, the Company granted Cypher a worldwide, exclusive right and license to develop and manufacture the Smart Phone Beamz Player and market it to online and in-store mass retail channels. Beamz has retained the right to market the new product to a range of other channels, including the professional, DJ, retirement, education, special needs and select internet consumer markets. The Cypher License Agreement provides for payments to Beamz for the use of the Beamz Content included on the Smart Phone Beamz Player equal to $1.50/Unit plus 100% of the out-of-pocket third-party royalties associated with such Beamz Content. In addition, for each Unit sold by Cypher, Cypher will pay Beamz a royalty equal to thirteen (13%) of the manufacturer contract purchase price for such product. Similarly, Beamz will purchase Smart Phone Beamz Players from Cypher at cost plus thirteen percent (13%) of manufacturer cost for Beamz sales of such new product. Beamz has retained the right to develop, manufacture or license any other products or versions of the Beamz Products it desires other than the Smart Phone Beamz Player product family.The new product will be owned 50% by Cypher and 50% by us, and will be distributed to the retail consumer channel by Cypher. We will distribute the new product to other channels, including the professional, DJ, retirement, education, special needs and select internet consumer markets.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">The Company has agreed to indemnify its officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. However, the Company has had limited operations and no pending litigation or potential claims. As a result of these items, the Company believes the estimated fair value of these indemnification agreements is minimal and has no liabilities recorded for these agreements as of September 30, 2012 and June 30, 2012.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Effective August 13, 2012, the Company entered into the Pooled Vehicle Participation Agreement. The intent of the agreement is to raise money through a third party which was formed to acquire interests in a portfolio of business ventures. The third party has been granted 1,500,000 warrants to purchase common stock at an exercise price of $1 per share expiring in August 2013. In addition, the third party will receive a fee of $3,000 per month through the expiration of the warrants or a 120 day notice by either party to terminate the contract and a commission of 10% of the proceeds received for the exercise of the warrants.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Note 4</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Notes Payable</b> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">As of September 30, 2012 and June 30, 2012, notes payable consists of the following:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="94%" style="WIDTH:94%" cellpadding="0" cellspacing="0"> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>September 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>June 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">(Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">10% Bridge Loan to an entity through May, 2013; unsecured</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">72,655</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">50,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">72,655</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">50,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Less: unamortized discount for warrants</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,767</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,868</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">65,888</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">43,132</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During the three months ended September 30, 2012 and the year ended June 30, 2012 the Company issued Bridge Loans to related parties (Note 6) and two unrelated parties. The Bridge Loans also provided for the issuance of warrants at the rate of 50% of the principal amount that are exercisable at $.02 per share (Note 5). A discount, related to the relative fair value of the warrants at the date of grant, was recorded and is being amortized to interest expenses over the term of the loans under the effective interest method. The Bridge Loan Agreements provide that each noteholder shall have the option to convert any or all of the principal balance of, and accrued, but unpaid interest on such noteholders' Bridge Promissory Note into securities offered in an equity financing of the Company of $2,000,000 or more consummated after the date of the Bridge Loan Agreements at a 10% discount to the terms of such financing. The closing of such financing has not occurred as of the date of the financial statements. If the Company does not raise $3,000,000 or more before December 31, 2012, then the maturity date of the Bridge Promissory Notes automatically extends to the sooner of December 31, 2014 or when such funds are raised. In that case, additional warrants to purchase Common Stock at an exercise price of $0.02 per share shall be issued to each noteholder in an amount equal to 1 share of Common Stock for each $2 of principal amount of the Bridge Promissory Notes issued to the noteholders. No principal or interest has been paid on the Bridge Promissory Notes and subsequent to September 30, 2012 the notes were amended to extend the maturity dates through March 2013 and the provisions for the 10% discount upon conversion was eliminated (Note 7).</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Note 5</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Equity</b> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Common Stock</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">As of September 30, 2012, the Company has 50,000,000 shares of stock authorized, 40,000,000 of which have been designated as common stock, $.001 par value.There were14,426,082 common shares issued and outstanding at September 30, 2012.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During the three months ended September 30, 2012, the Company issued 255,000 shares of common stock to various contractors and officers and directors for services that were valued at $.57 per share based on a third party valuation. In addition, 25,000 shares of common stock were issued for proceeds of $500, pursuant to the exercise of 25,000 warrants.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Preferred Stock</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">As of September 30, 2012 the Company has 10,000,000 shares of preferred stock, $.001 par value, authorized of which 1,300,000 shares are Series D Convertible Preferred Stock (“Series D”). There are 827,940 shares of Series D issued and outstandingat September 30, 2012. Each Series D share is convertible into 10 shares of common stock and has a liquidation preference of $10 per share.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During the three months ended September 30, 2012 the Company issued 25,000 shares of Series D preferred stock to Cypher pursuant to the renegotiated license agreement (Note 3). The shares were valued at $142,500 based on a third party valuation. In addition, the Company has corrected the outstanding Series D shares to include 2,500 Series D shares issued in 2008 with a deminimis value.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Commitment</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Pursuant to the July 2011 Bridge Loan Stock Purchase and Security Agreement, each cash Lender under the Loan Document, simultaneously with the consummation of a Sale Event, shall be entitled to a fee in an amount equal to two hundred (200%) of the original principal amount loaned by such Lender to the Company, regardless whether such Lender's Note is outstanding at that time, and such fee shall be paid to the Lenders in preference above any amounts owed by the Company to its other stockholders. The aggregate amount of such preference payments equals $2,815,850 as of September 30, 2012.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><b>Warrants & Options</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Pursuant to the Bridge Loan Financing Agreement, as additional consideration for each of the Loans, the Company granted the Lenders warrants with the right to purchase a number of shares of the Company's common stock equal to fifty percent (50%) of the principal amount of the Lender's Notes.During the three months ended September 30, 2012, 61,313 warrants were issued pursuant to the Bridge Loan Financing Agreement. The warrants are exercisable at $.02 per share and expire through January 2015.As the warrants were issued with the bridge loans, the relative fair value of same, in the amount of $40,336 for the three months ended September 30, 2012, was allocated between the debt proceeds and the warrants and the warrant relative value reflected as a discount on the debt that will be amortized over the term of the debt.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During August 2012 the Company granted 1,500,000 warrants pursuant to a Pooled Vehicle Participation Agreement (Note 3). The warrants expire in August 2013 and have an exercise price of $1 per share.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><i>2004 Incentive Compensation Plan</i></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The Company has adopted the 2004 Incentive Compensation Plan (the “2004 Plan”). The 2004 Plan provides for the issuance of incentive and non-incentive stock options. The Company has reserved 750,000 shares of common stock for issuance underlying the grants under the 2004 Plan. As of September 30, 2012, 29,825 options under the plan are outstanding. Options under the 2004 Plan generally become exercisable over vesting periods of up to four years and expire ten years from the date of grant.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"><i>2009 Incentive Compensation Plan</i></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">In January 2009, the Company adopted the 2009 Incentive Compensation Plan (the "2009 Plan") that permits the issuance of options or shares to selected employees and directors of, and consultants to, the Company. The Plan was amended in January 2012 to reserve 1,150,000 shares of Series C Preferred Stock for issuance underlying the grants of stock, stock options and warrants. As of September 30, 2012, 765,906 shares of Series C Preferred Stock were issued pursuant to the Plan and were converted to common stock in June, 2011. Options under the 2009 Plan generally become exercisable over vesting periods of up to four years and expire ten years from the date of grant.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">A summary of the options and warrants for the quarter ended September 30, 2012are presented in the table below:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="93%" style="WIDTH:93%" cellpadding="0" cellspacing="0"> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Weighted </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Average </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Exercise </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Price</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Number of </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Options and </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Warrants</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Weighted </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Average </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Remaining </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Contractual Term</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Aggregate </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Fair </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Value</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Outstanding at June 30, 2012</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.04</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">209,924</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">3.16</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">151,955</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Granted</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.96</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">1,569,413</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.93</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">33,730</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Exercised</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">-</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(25,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">-</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">-</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Outstanding at September 30, 2012 (Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.87</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">1,754,337</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">1.14</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">185,685</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">For purposes of determining the fair values of warrants issued during the three months ended September 30, 2012 using the Black-Scholes option pricing model, the Company used the following assumptions in the three months ended September 30, 2012; expected volatility 150%, risk-free interest rate 1%, warrant life of 3 years, estimated market price of $.57 per share and expected dividend rate of 0%.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Included in the table above are 29,825 options outstanding at September 30, 2012 and June 30, 2012. The options are subject to various vesting periods up to thirty three months and all were fully vested as of December 2011. The options expire on various dates between January, 2014 and October, 2018. Additionally, the options and warrants had an intrinsic value of $110,054 as of September 30, 2012. Intrinsic value arises when the exercise price is lower than the market, which was estimated to be $.57 per share at September 30, 2012.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The options outstanding at September 30, 2012 had a no unrecognized compensation costs.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Note 6</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b> Related Party Transactions</b> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">As of September 30, 2012 and June 30, 2012, notes payable to related parties consists of the following:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="94%" style="WIDTH:94%" cellpadding="0" cellspacing="0"> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>September 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>June 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">(Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">10% Bridge Loan to an entity through April, 2013; unsecured</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">360,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">260,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">360,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">260,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Less: unamortized discount for warrants</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(28,866</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(38,167</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">331,134</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">221,833</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">At September 30, 2012 and June 30, 2012 the Company had a payable to entities controlled by the chief executive officer in the amounts of $415,646 and $267,392, respectively. The payables are non-interest bearing, uncollateralized, and due on demand.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During the three months ended September 30, 212 the Company received $100,000 in bridge loans from an entity controlled by the chief executive officer. The entity received 50,000 warrants to purchase common stock at $.02 per share, expiring in April 2013.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During the three months ended September 30, 2012 the Company issued 25,000 shares of common stock to the audit committee chair for services and 100,000 shares of common stock to an officer for services to be performed through July 2013.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Note 7</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>Subsequent Events</b> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">During October, 2012 the Board of Directors approved the issuance of 104,000 shares of common stock to various contractors of which 94,000 were issued as of November 14, 2012.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Subsequent to September 30, 2012 the Company amended the Bridge Loans to increase the maximum offering amount from $500,000 to $1,500,000, extend the maturity dates through March 2013 and to eliminate the provision allowing a 10% discount on conversion.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt"><b>Presentation of Interim Information</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The condensed financial statements included herein have been prepared by Beamz Interactive, Inc. (“we”, “us”, “our” or “Company”) without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements as of June 30, 2012 and 2011. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted, as permitted by the SEC, although we believe the disclosures, which are made, are adequate to make the information presented not misleading. Further, the condensed financial statements reflect, in the opinion of management, all normal recurring adjustments necessary to present fairly our financial position at September 30, 2012, and the results of our operations and cash flows for the periods presented. The June 30, 2012 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Interim results may be subject to seasonal variations and the results of operations for the three months ended September 30, 2012 are not necessarily indicative of the results to be expected for the full year.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Use of Estimates</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to establish accounting policies and make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements. These financial statements include estimates and assumptions that are based on informed judgments and the experience of management. Significant estimates include, but are not limited to, collectability of accounts receivable, the allowance for obsolete inventory, and valuation of stock issuances, stock-based compensation and warrants. We evaluate our policies and estimates on an on-going basis and discuss the development, selection and disclosure of critical accounting policies with the Company's Audit Committee. Predicting future events is inherently an imprecise activity and as such requires the use of judgment. Our financial statements may differ materially based upon different estimates and assumptions.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">We discuss our significant accounting policies to our financial statements below. Our significant accounting policies are subject to judgments and uncertainties that affect the application of such policies. We believe these financial statements include the most likely outcomes with regard to amounts that are based on our judgment and estimates. Our financial position and results of operations may be materially different when reported under different conditions or when using different assumptions in the application of such policies. In the event estimates or assumptions prove to be different from the actual amounts, adjustments are made in subsequent periods to reflect more current information. We believe the following accounting policies are critical to the preparation of our financial statements due to the estimation process and business judgment involved in their application.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Fair Value of Financial Instruments</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">In determining the fair value of its financial instruments, the Company uses a variety of methods and assumptions that are based on market conditions and risks existing as of each balance sheet date. The Company’s financial instruments include cash and cash equivalents, deposits, and debt and approximate fair value based on their short maturities or the effective interest rate. All methods of measuring fair value are based on Level 3 inputs, and result in a general approximation of value since valuations are inherently not precise.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Stock-Based Compensation and Warrants</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">We use the Black-Scholes pricing model as a method for determining the estimated fair value for all stock options and warrants awarded to employees, officers, directors, investors, and consultants. We apply judgment in estimating key assumptions that are important elements in the model and in expensing stock options and warrants, such as the expected stock-price volatility, expected term, stock value on the date of grant, and expected forfeiture rates. Our estimates of these important assumptions are based on historical data and judgment regarding market trends and factors.If actual results are not consistent with our assumptions and judgments used in estimating these factors, we may be required to record additional stock-based compensation expense, which could be material to our results of operations. We have not historically issued any dividends and we do not expect to in the future. We use the graded vesting attribution method to recognize compensation costs over the requisite service period for grants to employees and directors.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Cash and Cash Equivalents</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Cash equivalents are considered to be all highly liquid investments purchased with an initial maturity, at time of purchase, of three (3) months or less.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Accounts Receivable, Net</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Accounts receivable represents amounts earned but not collected in connection with the Company's sales. Trade receivables are carried at their estimated collectible amounts and are generally unsecured. Trade credit is generally extended on a short-term basis, thus trade receivables do not bear interest.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">The Company provides an allowance for doubtful accounts based upon an individual review of the accounts outstanding, as well as the prior history of bad debts. Accounts are considered past due or delinquent based on contractual terms, recent payment activity, and our judgment of collectability. As of September 30, 2012 and June 30, 2012, an allowance has been provided for potentially uncollectible accounts receivable and product returns in the amounts of $51,818 and $44,425, respectively. Bad debt expense for the three months ended September 30, 2012 and 2011 was $2,964 and $5,919, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Prepaid Expenses</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Prepaid expenses represent payments for consulting, development, and director fees and are being amortized to expense on a straight-line basis over the related contract periods.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Inventory, Net</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Inventory consists primarily of finished products and materials and supplies. Inventory is stated at the lower of cost or market. Cost is determined by using the first-in, first-out method. The Company periodically reviews its inventory and makes provisions for damaged or obsolete inventory.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">At September 30, 2012 and June 30, 2012 inventory is comprised of the following:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="80%" style="WIDTH:80%" cellpadding="0" cellspacing="0"> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>September 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>June 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">(Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Finished goods</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">113,211</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">131,372</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Marketing and media</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">14,728</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">14,130</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">127,939</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">145,502</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Less: allowance for obsolescence</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,286</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,286</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Net inventory</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">121,653</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">139,216</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div> <p style="MARGIN:0in 0in 0pt"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Research and Development</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Expenditures for research activities relating to product development and improvement are charged to expense as incurred. Such expenditures amounted to $113,648 and $59,680 for the three months ended September 30, 2012 and 2011, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Software development costs are expensed as incurred until technological feasibility has been established, at which time such costs are capitalized until the product is available for general release to customers. To date, the Company’s software has been available for general release to customers and, accordingly, no development costs have been capitalized.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Software development costs incurred and included in research and development expense noted above totaled $2,430 and $18,608 for the three months ended September 30, 2012 and 2011, respectively.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Advertising Costs</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Advertising costs are expensed as incurred and are included in sales and marketing expenses on the accompanying statements of operations. Advertising expense totaled $60,835 and $28,082 for the three months ended September 30, 2012 and 2011, respectively.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"><b>Revenue Recognition</b></p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Revenues are recognized when a contract has been entered into or an order placed, the price is fixed, shipment of the products to the customer has occurred, or the transfer of title, if later, and collection is reasonably assured. Amounts billed to a customer related to shipping or handling charges are included in revenues. </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Provisions for sales discounts and rebates to customers are recorded, based upon the terms of sales contracts, in the same period the related sales are recorded, as a reduction to the sale. Sales discounts and rebates are offered to certain customers to promote customer loyalty and encourage greater product sales. The Company also provides an allowance for sales returns, that is estimated based upon prior experience. As of September 30, 2012 and 2011, the allowance was $4,919 and $19,289, respectively.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Property and Equipment</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">Property and equipment are stated at cost. Depreciation is provided for on the straight-line method over the following estimated useful lives:</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Maintenance and repairs that neither materially add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Betterments or renewals are capitalized when incurred. For the three months ended September 30, 2012 and 2011 depreciation expense was $150 and $207, respectively.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Concentration of Credit Risk</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Management maintains the Company’s cash and cash equivalents in bank accounts, which at times may exceed federally insured limits. The Company has not experienced any losses in such accounts, and Management believes the Company is not exposed to any significant credit risk on cash and cash equivalents. As of September 30, 2012 there are no balances that exceeded federally insured limits.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">During the three months ended September 30, 2012 the Company had one customer that represented approximately 82% of net sales. The Company had approximately $84,200 in accounts receivable at September 30, 2012 from this customer. During the three months ended September 30, 2011, the Company had one customer representing approximately 69% of net sales. The Company had accounts receivable of approximately $106,400 at September 30, 2011 from this customer.</p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">During the three months ended September 30, 2012, the Company had no significant vendors, although we still rely on one principal supplier. During the three months ended September 30, 2011, the Company had one vendor representing approximately 21% of purchases. If purchases from this vendor was disrupted, particularly at certain critical times during the year, our sales could be adversely affected in the short term until alternative supply arrangements could be established.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Recent Accounting Pronouncements</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended September 30, 2012, that are of significance, or potential significance, to us.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Per Share Data</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Net loss per share (EPS) of common stock is computed based upon the weighted-average number of common shares outstanding during the year. Net loss equates to loss available to common stockholders as there is no dividend accrued for preferred stock. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Basic and diluted EPS were the same for the three months ended September 30, 2012 and 2011, as the Company had losses from operations during both periods and therefore the effect of all potential common stock equivalents is anti-dilutive (reduces loss per share). Stock options and warrants representing 1,754,337 and 63,024 shares of Common Stock were outstanding at September 30, 2012 and 2011, respectively, with exercise prices ranging from $.02 to $1.00 per share. Additionally, there were 827,940 and 800,440 shares of Series D preferred stock outstanding at September 30, 2012 and 2011, respectively, that were convertible into common stock on a 1 for 10 basis.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Income Taxes</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">Deferred tax assets and liabilities arise from temporary timing differences between the book and tax basis of accounting for assets, liabilities, and income as well as from timing in the recognition of net operating losses. Deferred income tax assets primarily arise from net operating loss carryforwards and deferred income tax liabilities are based on the different depreciation and amortization methods used for tax reporting and financial accounting purposes. The Company assesses its ability to realize deferred tax assets based on the current earnings performance and on projections of future taxable income in the relevant tax jurisdictions. These projections do not include taxable income from the reversal of deferred tax liabilities and do not reflect a general growth assumption but do consider known or pending events, such as the passage of legislation. The Company’s estimates of future taxable income are reviewed annually. All tax positions are first analyzed to determine if the weight of available evidence indicates that it is more likely than not that the position will be sustained under audit, including resolution of any related appeals or litigation processes. After the initial analysis, the tax benefit is measured as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Our income tax returns are subject to adjustment under audit for approximately the last four years.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">If the Company is required to pay interest on the underpayment of income taxes, the Company recognizes interest expense in the first period the interest becomes due according to the provisions of the relevant tax law.</p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:justify">If the Company is subject to payment of penalties, the Company recognizes an expense for the amount of the statutory penalty in the period when the position is taken on the income tax return. If the penalty was not recognized in the period when the position was initially taken, the expense is recognized in the period when the Company changes its judgment about meeting minimum statutory thresholds related to the initial position taken.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt"><b>Liquidity</b></p> <p style="MARGIN:0in 0in 0pt"> </p> <p style="MARGIN:0in 0in 0pt">The accompanying unaudited condensed financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs, which raises doubts about the ability of the Company to continue as a going concern. In order to continue as a going concern, the Company will need to generate additional revenue and obtain additional capital to fund its operating losses and service its obligations. Management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding and long term financing, which will enable the Company to operate for the coming year, though there can be no assurance that the Company’s efforts will be successful. The condensed financial statements do not include any adjustments that might result from the outcome of these uncertainties.</p> <p> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt">At September 30, 2012 and June 30, 2012 inventory is comprised of the following:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="80%" style="WIDTH:80%" cellpadding="0" cellspacing="0"> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>September 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>June 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">(Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="13%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:13%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Finished goods</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">113,211</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">131,372</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Marketing and media</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">14,728</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">14,130</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">127,939</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">145,502</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Less: allowance for obsolescence</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,286</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,286</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="70%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:70%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Net inventory</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">121,653</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="12%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:12%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">139,216</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div> <p style="MARGIN:0in 0in 0pt"> </p>
<!--egx--><p style="MARGIN:0in 0in 0pt">As of September 30, 2012 and June 30, 2012, notes payable consists of the following:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="94%" style="WIDTH:94%" cellpadding="0" cellspacing="0"> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>September 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center"><b>June 30, 2012</b></p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"><b> </b></p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">(Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="15%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:15%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">10% Bridge Loan to an entity through May, 2013; unsecured</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">72,655</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">50,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">72,655</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">50,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Less: unamortized discount for warrants</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,767</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(6,868</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="66%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:66%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">65,888</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="14%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:14%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">43,132</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div>
<!--egx--><p style="MARGIN:0in 0in 0pt">A summary of the options and warrants for the quarter ended September 30, 2012are presented in the table below:</p> <p style="MARGIN:0in 0in 0pt"> </p> <div align="center"> <table width="93%" style="WIDTH:93%" cellpadding="0" cellspacing="0"> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Weighted </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Average </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Exercise </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Price</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Number of </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Options and </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Warrants</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Weighted </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Average </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Remaining </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Contractual Term</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Aggregate </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Fair </p> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:center" align="center">Value</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="10%" colspan="2" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:10%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8; BACKGROUND-COLOR:transparent" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Outstanding at June 30, 2012</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.04</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">209,924</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">3.16</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">151,955</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Granted</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.96</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">1,569,413</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.93</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">33,730</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Exercised</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">-</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">(25,000</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">-</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 1.5pt solid" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">-</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:1.5pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:aliceblue; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="52%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:52%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt">Outstanding at September 30, 2012 (Unaudited)</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">0.87</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">1,754,337</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">1.14</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right"> </p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt">$</p></td> <td width="9%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:9%; PADDING-TOP:0in; BORDER-BOTTOM:black 2.25pt double" valign="bottom"> <p style="MARGIN:0in 0in 0pt; TEXT-ALIGN:right" align="right">185,685</p></td> <td width="1%" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:0in; BORDER-TOP:#ece9d8; PADDING-LEFT:0in; BACKGROUND:white; PADDING-BOTTOM:3pt; BORDER-LEFT:#ece9d8; WIDTH:1%; PADDING-TOP:0in; BORDER-BOTTOM:#ece9d8" valign="bottom"> <p style="MARGIN:0in 0in 0pt"> </p></td></tr></table></div>
<!--egx--><p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">As of September 30, 2012 and June 30, 2012, notes payable to related parties consists of the following:</p> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p> <table width="100%" style="WIDTH:100%" cellpadding="0" cellspacing="0"> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="14%" colspan="2" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:14%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">September 30, 2012</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="14%" colspan="2" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:14%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">June 30, 2012</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="14%" colspan="2" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:14%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">(Unaudited)</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="14%" colspan="2" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:14%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; BACKGROUND-COLOR:transparent; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">10% Bridge Loan to an entity through April, 2013; unsecured</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">360,000</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">260,000</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">360,000</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">260,000</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">Less: unamortized discount for warrants</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">(28,866</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">)</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="13%" style="BORDER-BOTTOM:black 1.5pt solid; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">(38,167</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:1.5pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:aliceblue; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">)</p></td></tr> <tr> <td width="4%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:3pt; PADDING-LEFT:0in; WIDTH:4%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="64%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:3pt; PADDING-LEFT:0in; WIDTH:64%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:3pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:black 2.25pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">$</p></td> <td width="13%" style="BORDER-BOTTOM:black 2.25pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">331,134</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:3pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:3pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td> <td width="1%" style="BORDER-BOTTOM:black 2.25pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">$</p></td> <td width="13%" style="BORDER-BOTTOM:black 2.25pt double; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:0in; PADDING-LEFT:0in; WIDTH:13%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt">221,833</p></td> <td width="1%" style="BORDER-BOTTOM:#f0f0f0; BORDER-LEFT:#f0f0f0; PADDING-BOTTOM:3pt; PADDING-LEFT:0in; WIDTH:1%; PADDING-RIGHT:0in; BACKGROUND:white; BORDER-TOP:#f0f0f0; BORDER-RIGHT:#f0f0f0; PADDING-TOP:0in" valign="bottom"> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p></td></tr></table> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt"> </p>
51818
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145502
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139216
4919
19289
1754337
209924
0.02
0.02
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5919
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0.0000
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207
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260000
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0.93
33730
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-25000
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0
0.87
1754337
1.14
185685
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500000
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1800
415646
267392
286291
39097
40336
0
22655
0
280000
0
84200
106400
0.6900
0.2100
7729
50000000
40000000
14426082
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61313
1500000
1
0.0000
126405
0
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shares
iso4217:USD
iso4217:USD
shares
pure