Note 8 - Stockholders' Deficit

12 Months Ended

Dec. 31, 2013

Notes

Note 8 - Stockholders' Deficit

Note 8 – Stockholders’ Deficit

As discussed in Note 1, stockholders holding a majority of the voting power of the our outstanding voting stock, as well as our Board of Directors, approved an amendment to our Articles of Incorporation dated December 30, 2013 to (a) effect a reverse stock split of our common stock by a ratio of one-for-seven hundred fifty (1:750) and (b) reduce the number of authorized shares of common stock from 1,500,000,000 to 50,000,000.  The Financial Industry Regulatory Authority (“FINRA”) approved the reverse stock split effective January 13, 2014, and the reverse stock split has been given retroactive effect in our consolidated financial statements for all periods presented.

During the year ended December 31, 2013, we issued a total of 1,135,147 shares of our common stock and at December 31, 2013 had 39,668 unissued common shares: 23,905 shares at par value to extinguish an obligation for unissued common shares; 551,116 issued shares and 34,668 unissued shares for services with a total value of $1,648,655; and 560,126 issued shares and 5,000 unissued shares for conversion of debt with a total value of $2,137,572.  Wealso cancelled 262 unissued common shares at par value.

During the year ended December 31, 2012, we issued a total of 10,851 shares of our common stock and at December 31, 2013 had 24,167 unissued common shares: 1,023 shares at par value to extinguish an obligation for unissued common shares and 9,828 shares issued shares and 24,167 unissued common shares for services with a total value of $1,013,772.