Note 9 - Stockholders' Deficit

3 Months Ended

Mar. 31, 2014

Notes

Note 9 - Stockholders' Deficit

NOTE 9 – 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 three months ended March 31, 2014, we issued a total of 692,053 shares of our common stock and at March 31, 2014 had 39,668 unissued common shares.  We issued 388 shares valued at $1 for rounding in the reverse stock split and 691,665 shares with a total value of $149,028 for conversion of debt.

During the three months ended March 31, 2013, we issued a total of 26,535 shares of our common stock and at March 31, 2013 had 3,999 unissued common shares.  We issued 24,167 shares at par value for 24,167 unissued common shares, 2,000 shares valued at $60,000 for services, and 368 shares and 3,999 unissued common shares with a total value of $250,914 for conversion of debt.

During the three months ended March 31, 2013, we issued 200,000 shares of preferred stock for $100,000 cash.  The preferred shares were cancelled later in 2013.