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STOCK TRANSACTIONS
12 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
STOCK TRANSACTIONS

NOTE 13. STOCK TRANSACTIONS

 

During the year ended September 30, 2012 the Company:

 

Issued 5,000,000 Common Shares to the order of a broker dealer in consideration for services  rendered as Placement Agent and valued at $65,000.

 

Issued 12,000,000 shares to an employee for services rendered valued at $86,400  subject to a vesting schedule

 

Issued 12,000,000 shares to an employee for services rendered valued at $48,000  subject to a vesting schedule

 

Issued 205,821,802 Common Shares in satisfaction of $405,300 of Convertible Notes Payable

 

Issued 90,000 shares of Series AA Preferred Stock to the Company’s CEO

 

Issued 16,496,338 common shares pursuant to contractual obligations to debt holders resulting in the Company recognizing expenses of $66,372 in connection with such issuances.

 

issued 75,000 of its Non Voting Convertible Preferred Stock in accordance with the terms and conditions of that Equity Purchase Agreement (the "Purchase Agreement") entered into by and between the Company and Southridge Partners II, LP (See Note 5)