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NOTE 10. EQUITY
12 Months Ended
Sep. 30, 2012
Equity [Abstract]  
NOTE 10. EQUITY

NOTE 10 - EQUITY

 

On April 11, 2011, the Company amended its Articles of Incorporation to increase the authorized common shares to 650,000,000 shares and 4,000,000 preferred shares at a par value of $0.01.

 

Fiscal Year Ended September 30, 2012

 

During year ended September 30, 2012, the Company issued 190,000 shares of common stock for $68,000 as follows:

 

Date  Number of Shares  Value
 October 15, 2011    25,000   $5,000 
 December 29, 2011    100,000   $50,000 
 June 21, 2012    65,000   $13,000 

 

On October 15, 2011, the Company issued 30,000,000 shares of common stock for the conversion of debt from our CEO in the principal amount of $1,200,106.

 

December 15, 2011, the Company issued 18,000 shares of common stock for services rendered by professionals and recorded expense based upon the market price of $0.0102 and expensed $184 as consulting fees.

 

The Company issued 941,333 shares of common stock to third parties that have purchased our medical billing software at the market price of the common stock ranging from $0.0115 to $0.03. The Company recorded $19,301 as a reduction to revenue for the value of the shares issued.

 

The Company issued 200,000 shares of common stock on June 21, 2012 to Krooss Medical Management in accordance with the acquisition agreement for Doctors Network of America and recorded it at the market price of the common shares of $0.020 and as an investment in Krooss Medical Management of $4,000.

 

On June 21, 2012, the Company issued 1,000 shares of common stock for services rendered by professionals and recorded expense based upon the market price of $0.02 and expensed $20 as consulting fees.

 

The Company issued 100,000 shares of common stock to MediSouth LLC in accordance with the acquisition agreement and recorded it at the market price of the common shares of $0.025 and as an investment in MediSouth LLC of $2,500.

 

On September 9, 2012, the Company issued 14,000 shares of common stock for services rendered by professionals and recorded expense based upon the market price of $0.03 and expensed $420 as consulting fees.

 

Fiscal Year Ended September 30, 2011

 

On January 2, 2011, the Company issued 15,000,000 shares of common stock to new management, valued at the market price of the common stock of $0.007 on the date of grant. The shares were recorded as compensation expense of $105,000.

 

On September 12, 2011, the Company sold 250,000 shares of common stock for $25,000 in net cash proceeds.

 

Preferred Stock

 

The Company has authorized 4,000,000 shares of preferred stock, at $0.01 par value. The Corporation established and designates the rights and preferences of a Series A Preferred Stock, and reserve 4,000,000 shares of preferred stock against its issuance, such rights, preferences and designations. Each share of the Preferred Stock has 150 votes on all matters presented to be voted by the holders of our common stock. All 4,000,000 shares of preferred stock have been issued to our CEO & CFO on April 11, 2011, valued at the trading price of the common stock of $0.0095 and were recorded as an expense of $38,000.