10.	SUBSEQUENT EVENTS

The Company issued 945,377 shares of compensation shares to management employees in lieu of $112,500 cash compensation for services rendered during the second quarter of 2011 which had been recorded at a value of $1,891 in stock based compensation based upon individual tax elections made by each recipient. The shares were awarded on Restricted Stock Agreements which have a six month time lapse restriction and are subject to forfeiture upon voluntary termination of employment. In July 2011, 47,500 compensation shares previously issued for services were forfeited.

The Company’s independent directors annual compensation is $16,000 to be paid quarterly in restricted stock. The Company issued the directors 151,515 shares of restricted stock on July 1, 2011 for their second quarter 2011 compensation. The Company recorded $4,000 in stock based compensation for each of its five independent directors.

The Company issued 90,909 shares of restricted stock to its national public relations firm as final payment for $12,000 in services.

The Company issued 378,788 shares of restricted stock each to two investors in the Convertible Debenture Series 2010 who elected to convert their $25,000 debenture on July 1, 2011 at the weighted average price for the five-day trading period before the notice of conversion which was $.066. Each investor received $308 to settle the accrued interest on their debenture.

Effective July 26, 2011, certain Company officers and directors granted consent to the Company to take shares of Common Stock that were reserved for issuance upon the exercise and/or conversion of options, warrants and convertible debentures (the “Securities”) and consider them as authorized but unissued shares of common stock to be used for other share issuances. Currently, there were 39,010,153 shares of Common Stock reserved for issuance pursuant to the Securities. This consent is effective until October 1, 2011, when the Company is required to reserve such Common Stock issuable upon exercise of the Securities. Prior to the consent, the number of shares of Common Stock issued and outstanding as well as reserved for issuance upon exercise or conversion of outstanding options, warrants and convertible debentures was close to 200 million, which is the number of shares of Common Stock authorized for issuance by the Company pursuant to the Articles of Incorporation. This action gives the Company flexibility until it can increase the authorized number of shares of Common Stock that may be issued.

On August 1, 2011, the Board of Directors appointed Steve Signoff as Chief Executive Officer of MacroSolve, Inc. and an 8K was filed August 3, 2011.

On July 17, 2011, the Company began offering its Convertible Debentures Series 2011 and Series B Warrants to purchase common stock to accredited investors. The offering modifies the earlier 2011 debenture by adding a ten cent ($0.10) conversion floor price. No debentures have been purchased as of the date of filing.

The Company is currently in settlement and licensing discussions with several companies against whom we have brought suits alleging infringement of United States Patent #7,822,816. As of the date of filing, two settlements have been finalized with proceeds payable before the end of the third quarter 2011.