EQUITY BASED INCENTIVE/RETENTION BONUSES

3 Months Ended

Mar. 31, 2013

Equity Based Year End Bonuses and Conversion Of Board Of Directors Liability [Abstract]

Equity Based Year End Bonuses and Conversion Of Board Of Directors Liability [Text Block]

20. EQUITY BASED INCENTIVE/RETENTION BONUSES

On November 2, 2012, the Board of Directors consented to expand the Board of Directors’ (BOD) compensation plan to include any employee, non-executive members. In addition, they consented to grant equity based bonuses to certain key employees and consultants as an incentive to retain their services. Stock incentive bonuses will vest, and be paid out on May 2, 2013, contingent upon continued employment or service. The stock bonus price per

share was calculated as $.0009 based on last closing price per the OCBB for a total of $75,100. The number of shares set aside and reserved for this transaction was 80,500,000. Of the 80,500,000 shares, 50,000,000 shares were awarded to the Chief Executive Officer, or $45,000 of the $75,100, as disclosed in Note 6. RELATED PARTY TRANSACTIONS. The Company will accrue operating expense ratably from the time of the awards through May 2, 2013, when vested.