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Subsequent Event
12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Event

NOTE 11 - SUBSEQUENT EVENT

 

The Company has evaluated subsequent events through March 31, 2014. Other than those described below, there have been no subsequent events after December 31, 2013 for which disclosure is required.

 

In a private placement(s) conducted subsequent to December 31, 2013, the Company sold 190,000 shares of common stock to accredited investors at a price of $0.50 per share for gross proceeds totaling $95,000. No underwriters were used and no underwriting discounts or commissions were payable. The shares have been offered and sold by the Company in reliance upon the exemption from registration provided by Regulation D promulgated under the Securities Act of 1933, as amended. The shares were offered and sold only to accredited investors; as such term is defined by Rule 501 of Regulation D. All of the shares sold in the private placement are restricted securities pursuant to Rule 144.

 

Subsequent to December 31, 2013, the Company converted loans and related accrued interest totaling $157,580 into 315,160 shares of common stock at a value of $0.50 per share.