8. Common Stock Transactions

12 Months Ended

Dec. 31, 2012

Common Stock Transactions

Note 8. Common Stock Transactions

Issuances of Common Stock-2012

During the year ended December 31, 2012, the Company issued an aggregate of 29,394,100 shares of its common stock as follows:

· The Company issued 2,525,000 shares of our common stock for services valued in the aggregate at $1,228,250. We valued the shares at market prices at the date of the agreements ranging from $0.30 to $1.07 per share.

· The Company issued 14,305,156 shares of its common stock in exchange for conversion of $3,789,634 of Convertible Notes pursuant to the convertible notes conversion prices of $0.25 up to $0.40 per share. See note 5.

· The Company issued 776,667 shares of its common stock for exercised options valued at $0.27 to $0.30 per share with an aggregate value of $364,700.

· The Company issued 11,787,277 shares of its common stock for exercise of warrants at an average price of $0.28 and valued at $3,317,181.

Issuances of Common Stock-2011

During the year ended December 31, 2011 the Company issued an aggregate of 22,820,276 shares of its common stock as follows:

· The Company issued 2,800,000 shares of its common stock for services valued in the aggregate at $862,000. The Company valued the shares at the trading price at the date of the agreements ranging from $0.25 to $0.60 per share.

· The Company issued 19,861,478 shares of its common stock in exchange for conversion of $4,965,370 of Convertible Notes pursuant to the convertible notes conversion prices of $0.25 per share.

· The Company issued 77,778 shares of its common stock for exercised options valued at $0.27 per share or $21,000.

· The Company issued 81,020 shares of its common stock for cashless exercise of warrants.