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(10) Stockholders' Equity
12 Months Ended
Dec. 31, 2012
Notes  
(10) Stockholders' Equity

(10)     Stockholders' Equity

 

On July 21, 2011, the Company's board of directors approved a 1 for 2.5 reverse stock split. All information presented below gives retroactive application to the reverse stock split.

 

            During the period from October 1, 2010 to January 14, 2011, the OWDPI operated as an unincorporated entity, and filed its articles of incorporation as a Texas corporation on January 14, 2011. The accompanying consolidated financial statements present the operations of the Company from inception, as if the incorporation of OWDPI occurred at October 1, 2010. The shares issued to founders were originally valued at $0.01 per share ($0.0006542 post reverse merger- See Note 2) and were issued for services in establishing the Company. Following is an analysis of common stock transactions entered into by the Company during the period from inception, October 1, 2010, to December 31, 2012:

 

Description

Shares Issued

Shares Unissued

Value

Cash Proceeds

Services and Incentive

Total

Founders’ shares at December 31, 2010

8,785,399

-

$0.00065

-

$5,748

$5,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares issued in reverse merger and recapitalization transaction (See Note 4)

5,425,592

-

-

-

-

-

 

 

 

 

 

 

 

Warrants issued for debt origination

-

-

-

17,648

-

17,648

 

 

 

 

 

 

 

Shares included in common stock at December 31, 2010 and issued with debt agreements

1,834,272

-

0.01026

18,824

-

18,824

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares issued with debt

917,136

-

0.01026

9,412

 

9,412

agreements in 2011

1,528,560

-

0.01308

20,000

-

20,000

 

 

 

 

 

 

 

Shares issued for cash,

7,295,053

-

0.02481

181,000

-

181,000

net of expenses

1,000,000

-

0.01900

19,000

-

19,000

 

 

 

 

 

 

 

Shares issued for services to

 

 

 

 

 

 

consultants, management and

28,205,757

-

0.02617

-

738,100

738,100

directors and employees

500,000

-

0.02000

-

10,000

10,000

 

 

 

 

 

 

 

Unissued shares for services to professional

-

767,500

0.04000

-

30,700

30,700

 

 

 

 

 

 

 

Shares issued for warrant exercises

3,439,260

-

0.02617

90,000

-

90,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants issued with new debt agreements

-

-

0.00785

8,824

-

8,824

 

 

 

 

 

 

 

Obligation forgiven under consulting

agreements with related parties

-

-

-

-

200,500

200,500

Shares issued for services to consultants, management and directors and employees

7,369,300

-

0.04000

-

294,772

294,772

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unissued shares for services to consultants, management and directors and employees

-

18,125,000

0.04000

-

725,000

725,000

 

Description

Shares Issued

Shares Unissued

Value

Cash Proceeds

Services And Incentive

Total

Issuances of shares unissued

 

 

 

 

 

 

at December 31, 2011

767,500

(767,500)

-

-

-

-

December 31, 2012

67,067,829

18,125,000

 

$364,708

$2,004,820

$2,369,528