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text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,028,418</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Less: debt discount</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(1,578,944</font></td><td style="padding-bottom: 1pt; 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text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,417,871</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,337,353</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Total current debt</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,638,349</font></td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,605,580</font></td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><i>&nbsp;</i></font></p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 4%; font: 10pt Arial, Helvetica, Sans-Serif"><font style="font: 11pt Times New Roman, Times, Serif"><i>(A)</i></font></td> <td style="width: 95%; font: 10pt Arial, Helvetica, Sans-Serif"><font style="font: 11pt Times New Roman, Times, Serif"><i>Line of credit &ndash; related party</i></font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">Line of credit with the principal stockholder consisted of the following activity and terms:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Principal</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Interest Rate</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Maturity</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Balance - December 31, 2014</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">268,227</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Borrowings during the three months ended March 31, 2015</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">25,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">4</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">%</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">September 26, 2015</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Interest accrual</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,250</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Repayments</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(75,000</font></td><td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Balance - March 31, 2015</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">220,478</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">4</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">%</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">September 26, 2015</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><i>(B) Convertible Debt</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><i>&nbsp;</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015 and year ended December 31, 2014, the Company issued convertible notes totaling $792,500 and $3,475,334, respectively. The Convertible notes issued for three months ended March 31, 2015 and year ended December 31, 2014, consist of the following terms:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><i>&nbsp;</i></font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Three Months Ended</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Year ended</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>March 31, 2015</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Amount of</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Amount of</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Principal Raised</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Principal Raised</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Interest Rate</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2.5% - 10%</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2.5% - 10%</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Default interest rate</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">14% - 22%</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">14% - 22%</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Maturity</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">February 26, 2015 - June 18, 2016</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">February 26, 2015 - June 18, 2016</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 1</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 21%; font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">65% of the &ldquo;Market Price&rdquo;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion.</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 19%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">689,500</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 19%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">689,500</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 2</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">65% of the &ldquo;Market Price&rdquo;, which is the lowest trading prices for the common stock during the ten (10) trading day period prior to the conversion.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">592,500</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">747,500</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 3</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">70% of the &ldquo;Market Price&rdquo;, which is the average of the lowest three (3) trading prices for the common stock during the fifteen (15) trading day period prior to the conversion.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">150,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 4</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">70% of the &ldquo;Market Price&rdquo;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">250,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 5</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">70% of the &ldquo;Market Price&rdquo;, which is the average of the lowest three (3) trading prices for the common stock during the twenty (20) trading day period prior to the conversion.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">50,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">125,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 6</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">70% of the lower of the average of the three (3) lowest trading prices for the fifteen (15) day trading period 1 day prior to conversion.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">50,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 7</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">75% of the &ldquo;Market Price&rdquo;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">848,334</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion terms 8</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Convertible into $0.07/share.&nbsp;&nbsp;After six month from the date of this note, conversion price shall equal the lower of $0.07/share or the variable conversion price - 75% of the average three (3) lowest closing prices during the ten (10) trading day period.</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">765,000</font></td><td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">792,500</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,475,334</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The debt holders are entitled, at their option, to convert all or part of the principal and accrued interest into shares of the Company&rsquo;s common stock at conversion prices and terms discussed above.&nbsp;&nbsp;&nbsp;&nbsp;The Company classifies embedded conversion features in these notes as a derivative liability due to management&rsquo;s assessment that the Company may not have sufficient authorized number of shares of common stock required to net-share settle or due to the existence of a ratchet due to an anti-dilution provision. See Note 4 regarding accounting for derivative liabilities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.7pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015, the Company converted debt and accrued interest, totaling $791,444 into 29,796,782 shares of common stock.&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company converted debt and accrued interest, totaling $3,421,019 into 48,998,342 shares of common stock.&nbsp;&nbsp;&nbsp;&nbsp;Conversions of debt to equity occurring after the maturity date and penalties incurred resulted in a loss on settlement of $183,907.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"></p> <!-- Field: Page; Sequence: 11 --> <div style="margin-top: 6pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <div style="page-break-before: always; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <!-- Field: /Page --> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>MAX SOUND CORPORATION</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>NOTES TO FINANCIAL STATEMENTS</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>AS OF MARCH 31, 2015</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>(UNAUDITED)</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Convertible debt consisted of the following activity and terms:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Convertible Debt Balance as of December 31, 2014</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,028,418</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">4% - 10%</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">February 26, 2015 - June 18, 2016</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Borrowings during the three months ended March 31, 2015</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">792,500</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">8% - 10%</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Non-Cash Reclassification of accrued interest converted</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">22,361</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Repayments</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(55,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion&nbsp;&nbsp;of debt to into 29,796,782 shares of common stock with a valuation of $791,4448 ($0.02 - $0.039/share) including the accrued interest of $22,361</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(791,444</font></td><td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Convertible Debt Balance as of March 31, 2015</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,996,815</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">4% - 10%</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">February 26, 2015 - June 18, 2016</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">(C)</font></td> <td style="width: 94%; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Debt Issue Costs</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.7pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015, the Company paid debt issue costs totaling $26,938.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The following is a summary of the Company&rsquo;s debt issue costs:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font-family: Times New Roman, Times, Serif; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>Three Months Ended</b></font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font-family: Times New Roman, Times, Serif; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>Three Months Ended</b></font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>March 31, 2015</b></font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font-family: Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>March 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Debt issue costs</font></td><td style="width: 8%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">221,693</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 8%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">146,055</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Accumulated amortization of debt issue costs</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(184,960</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(118,529</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Debt issue costs - net</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">34,733</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">27,526</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015 and 2014 the Company amortized $17,361 and $38,983 of debt issue costs, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 1%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 4%"><font style="font: 11pt Times New Roman, Times, Serif">(D)</font></td> <td style="width: 95%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Debt Discount &amp; Original Issue Discount</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015 and December 31, 2014, the Company recorded debt discounts and original issue discounts totaling $841,373 and $3,199,391, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The debt discount recorded in 2015 and 2014 pertains to convertible debt that contains embedded conversion options that are required to bifurcated and reported at fair value and original issue discounts.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The Company amortized $953,494 and $728,736 during the three months ended March 31, 2015 and 2014, respectively, to amortization of debt discount&nbsp;expense.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Three Months Ended</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Three Months Ended</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>March 31, 2015</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>March 31, 2014</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Debt discount</font></td><td style="width: 8%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,532,438</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 8%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 12%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,923,369</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Accumulated amortization of debt discount</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; 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width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>March 31, 2015</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>December 31, 2014</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Website Development</font></td><td style="width: 8%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 12%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">294,795</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 8%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 12%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">294,795</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Furniture and Equipment</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">99,881</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">99,881</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Leasehold Improvements</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">6,573</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">6,573</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Software</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">53,897</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">53,897</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Music Equipment</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">2,247</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">2,247</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Office Equipment</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">74,412</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">71,652</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Domain Name</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1,500</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1,500</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Sign</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">628</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">628</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Total</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">533,933</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">531,173</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Less: accumulated depreciation and amortization</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(361,487</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(342,277</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Property and Equipment, Net</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">172,446</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">188,896</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> </table> 533933 531173 99881 1500 628 74412 53897 6573 2247 294795 1500 628 56897 53897 6573 99881 294795 361487 342277 19207 26464 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>NOTE 6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STOCKHOLDERS' EQUITY</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">On November 10, 2014, the Company with the consent of the Majority Shareholder and Unanimous Written Consent of the Board of Directors filed with the State of Delaware an Amended Certificate of Incorporation increasing the authorized shares of common stock by 50,000,000 shares of common stock, and changing the par value to $.00001 per share.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">On March 4, 2015, the Company with the consent of the Majority Shareholder and Unanimous Written Consent of the Board of Directors created and authorized the issuance of Series A Convertible Preferred stock, with a par value of $0.00001 per share. The face amount of state value of each Preferred Share of stock is $0.96.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><b>(A) &#9;Common Stock</b>&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015, the Company issued the following common stock:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Transaction Type</b></font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Quantity</b></font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Valuation</b></font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Range of Value per share</b></font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion of convertible debt and accrued interest</font></td><td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">29,796,782</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">791,444</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.02715 - $0.14175</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Services - rendered</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">950,000</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">32,730</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.028 - $0.063</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Return of shares</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(120,000,000</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(1,200</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.00001</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Preferred stock issued in exchange of common stock</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">5,000,000</font></td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">50</font></td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.00001</font></td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Total shares issued</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(89,253,218</font></td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,401,650</font></td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;The following is a detailed description of transactions noted above:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif"><i>1.&#9;Conversion of convertible debt and accrued interest</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the three months ended March 31, 2015, the Company converted debt and accrued interest, totaling $791,444 into 29,796,782 shares of common stock</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">2. <i>&#9;Services Rendered</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On February 28, 2015, the Company entered into a services agreement. In connection with this agreement, the consultant will receive 700,000 shares of fully vested common stock.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company issued 250,000 shares of common stock valued at $12,850 in connection with employment agreements entered into (See Note 9 (A).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">2. <i>&#9;Return of Shares and Issuance of Preferred shares</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif"><i>&nbsp;</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On March 4, 2015 the Company filed a form 8K with the SEC associated with the Company entering into a Securities Exchange Agreement and the Company filing with the Secretary of State Delaware a Certificate of Designations, Preferences and Rights whereby, among other things, the Company for good and valuable consideration, agreed that in consideration of a large shareholder exchanging 120,000,000 shares of common stock back to the Company, the shareholder would receive 5,000,000 shares of Series A Convertible Preferred Stock of the Company at a Stated Value of $0.96 per share and a Conversion Price of $.0.04 per share. The Series A Convertible Preferred Stock carries certain voting preferences and will accrue dividends at a rate of 8% per annum Stated Value, payable in cash or in kind at the election of the Board of Directors. For the three months ended March 31, 2015, the Company recorded $30,000 as a dividend payable.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <!-- Field: Page; Sequence: 15 --> <div style="margin-top: 6pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <div style="page-break-before: always; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <!-- Field: /Page --> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>MAX SOUND CORPORATION</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>NOTES TO FINANCIAL STATEMENTS</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>AS OF MARCH 31, 2015</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>(UNAUDITED)</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company issued the following common stock:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif"><b>Transaction Type</b></font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Quantity</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Valuation</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Range of Value per share</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion of convertible debt and accrued interest</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">48,998,342</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,421,019</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.02715 - $0.14175</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Services - rendered</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,150,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">678,030</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.093 - $0.365</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Acquisition of intangibles</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">15,000,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,514,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.0985 - $0.12</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Return of shares</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(4,250,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.00 - $0.00</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Settlement of accounts payable</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,000,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">90,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.09</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Total shares issued</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">63,898,342</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">5,703,049</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">The following is a detailed description of transactions noted above:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif"><i>1.&#9;Conversion of convertible debt and accrued interest</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company converted debt and accrued interest, totaling $3,421,019 into 48,998,342 shares of common stock.&nbsp;&nbsp;&nbsp;&nbsp;Conversions of debt to equity occurring after the maturity date and penalties incurred resulted in a loss on settlement of $183,911.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">2. <i>Services Rendered</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company issued 1,250,000 shares of common stock valued at $386,250 in connection with employment agreements entered into (See Note 9 (A).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On January 15, 2013, the Company entered into an agreement for legal services, pursuant to which the Company will pay $2,000 and issue 50,000 shares of fully vested common stock for the preparation, filing costs and fees of each provisional and regular patent application.&nbsp;&nbsp;Through September 30, 2014, a total of 44 applications have been filed.&nbsp;&nbsp;In connection with this agreement:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 15%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%"></td> <td style="width: 84%; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company issued 800,000 shares of fully vested common stock for services having a fair value of $131,500 ($0.11 - $0.168/share).</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On March 17, 2014, the Company entered into an advisory board agreement for a period of three years. In consideration for these services, during the nine months ended September 30, 2014, the Consultant was granted 100,000 shares of fully vested common stock valued at $9,300 ($0.09/share). (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 4, 2014, the Company entered into consulting services agreement. In consideration for these services, during the nine months ended September 30, 2014, the Consultant was granted 200,000 shares of fully vested common stock valued at $21,980 ($0.11/share). (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company entered into a consulting services agreement related to marketing and the creation of Company awareness. In connection with this agreement, the consultant shall be paid $20,000 and was issued 200,000 fully vested shares of common stock valued at $31,000 ($0.16/share). (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On August 6, 2014, the Company entered into an advisory board agreement for a period of three years. In consideration for these services, during the nine months ended September 30, 2014, the Consultant was granted 100,000 fully vested shares of common stock valued at $16,500 ($0.17/share). (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On September 23, 2014, the Company entered into service agreement for a period of two years with the Company&rsquo;s transfer agent. In consideration for these services, during the nine months ended September 30, 2014, 300,000 shares of fully vested common stock valued at $49,500 ($0.17/share) were granted and expensed.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On September 10, 2014, the Company entered into an advisory board agreement. In consideration for these services, during the nine months ended September 30, 2014, the Consultant was granted 100,000 shares of fully vested common stock valued at $16,000 ($0.16/share). (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On July 29, 2014, the Company entered into an investor relations agreement. In connection with this agreement, the Company is to issue 100,000 shares of common stock monthly and $5,500 in monthly fees. As of September 30, 2014, the agreement was terminated. In total, the consultant was issued 100,000 shares of fully vested common stock valued at $16,000 ($0.16/share) and was paid $5,500. (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <!-- Field: Page; Sequence: 16 --> <div style="margin-top: 6pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <div style="page-break-before: always; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <!-- Field: /Page --> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>MAX SOUND CORPORATION</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>NOTES TO FINANCIAL STATEMENTS</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>AS OF MARCH 31, 2015</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>(UNAUDITED)</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">3. <i>Acquisition of intangibles</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt"><font style="font: 11pt Times New Roman, Times, Serif">During the nine months ended September 30, 2014, the Company issued 15,000,000 common shares in connection with license agreements entered into and intangibles acquired. See Note 1(I)</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">4. <i>Return of Shares</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On August 3, 2012, the Company entered into an endorsement agreement with an unrelated third party for a period from August 3, 2012 through August 3, 2015.&nbsp;&nbsp;&nbsp;&nbsp;In exchange for the services provided, the Company issued 3,000,000 shares of common stock having a fair value of $960,000 ($0.30/share) based upon fair value on the date of grant. As of January 2014, the August 3, 2012 agreement has been terminated and 3,000,000 shares have been returned to the Company (See note 7(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">In July of 2013, the Company entered into a financial advisor agreement for a period of six months with the advisor providing various assistance including introductions to potential investors. The Agreement calls for a fee of $25,000 with an additional $7,500 due and payable on the 1st day of the subsequent five months. On July 8, 2013, the Company issued 1,500,000 common shares as consideration for these services valued at $315,000. On April 15, 2014, the parties entered into a mutual termination agreement, as a result, 1,250,000 shares were returned to the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27.5pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">5.<i>&#9;Settlement of accounts payable</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 56.1pt; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company settled accounts payable totaling $154,320 through the issuance of $1,000,000 common shares with a valuation of $90,000. The Company recognize a gain on settlement of $64,320.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif"><b><i>&nbsp;(B) Stock Warrants</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.7pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On November 25, 2014, the Company issued 200,000 warrants for services rendered. The Company recognized compensation expense of $11,972 on the date of issuance with the offset being recorded to derivative liabilities since the Company applied the provisions of ASC No. 815, pertaining to the potential settlement in a variable amount of shares given the company&rsquo;s shares are tainted.&nbsp;&nbsp;&nbsp;&nbsp;The Company recorded the fair value of the warrants&nbsp;&nbsp;&nbsp;&nbsp;based on the fair value of each warrant grant estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions, dividend yield of zero, expected volatility of 128%; risk-free interest rates of 0.91%, expected life of three years. The warrants vested immediately.&nbsp;&nbsp;The warrants expire in three years from the date of issuance and have an exercise price of $0.10 per share (See Note 9(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">During the year ended December 31, 2014, the Company issued 750,000 warrants in connection with the entry into certain convertible debenture agreements. Each warrant vests immediately and expire February 26, 2017 &ndash; August 12, 2017 with an exercise price of $0.40.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The following tables summarize all warrant grants as of March 31, 2015, and the related changes during these periods are presented below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 20%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Balance, December 31, 2014</b></font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 19%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 19%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.38</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 19%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.7</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Granted </b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercised</b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Cancelled/Forfeited</b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Balance, March 31, 2015</b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.38</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.4</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <!-- Field: Page; Sequence: 17 --> <div style="margin-top: 6pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <div style="page-break-before: always; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <!-- Field: /Page --> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>MAX SOUND CORPORATION</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>NOTES TO FINANCIAL STATEMENTS</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>AS OF MARCH 31, 2015</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>(UNAUDITED)</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">A summary of all outstanding and exercisable warrants as of March 31, 2015 is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Weighted Average</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercise</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Warrants</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Warrants</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Remaining</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Aggregate</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Price</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Outstanding</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercisable</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Contractual Life</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Intrinsic Value</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.10</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2.66</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.25</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.20</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.40</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,850,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,850,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.49</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.45</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.76</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.4 years</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;A summary of all outstanding and exercisable warrants as of December 31, 2014 is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Weighted Average</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercise</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Warrants</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Warrants</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Remaining</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Aggregate</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Price</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Outstanding</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercisable</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Contractual Life</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Intrinsic Value</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.10</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2.90</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.25</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.44</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.40</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,850,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,850,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.73</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.45</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.00</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.7 years</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif"><b><i>(C) Stock Options</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 29.7pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">The following tables summarize all option grants as of March 31, 2015, and the related changes during these periods are presented below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Outstanding - December 31, 2014</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">15,566,652</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.13</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.32</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Granted</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Exercised</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Forfeited or Canceled</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Outstanding - March 31, 2015</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">15,566,652</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.07</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Exercisable - March 31, 2015</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">15,566,652</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <!-- Field: Page; Sequence: 18 --> <div style="margin-top: 6pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <div style="page-break-before: always; margin-top: 6pt"><table cellpadding="0" cellspacing="0" style="width: 100%"><tr><td style="text-align: center; width: 100%">&nbsp;</td></tr></table></div> <!-- Field: /Page --> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>MAX SOUND CORPORATION</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>NOTES TO FINANCIAL STATEMENTS</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>AS OF MARCH 31, 2015</b></font></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 11pt Times New Roman, Times, Serif"><b>(UNAUDITED)</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b><i>&nbsp;</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b><i>(D) Share Exchange</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">On May 11, 2010, the Company acquired the rights to an audio technology known as Max Audio Technology (Max) through a share exchange, whereby the Company issued 30,000,000 shares of common stock to two individuals in exchange for their rights in Max having a value of $7,500,000 based upon recent market value ($0.25/share) (See Note 8(B)).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">On January 17, 2011, the Company acquired the rights to software technology known as Blog Software, Social Media Vault, Social Media Bar and Trending Topix (BSST) through a share exchange, whereby the Company issued 3,000,000 shares of common stock to two individuals in exchange for their rights to BSST having a value of $300,000 based upon recent market value ($0.10/share).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>&nbsp;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">On November 15, 2012, the Company acquired the rights to an audio technology known as Liquid Spins, Inc. through a share exchange, whereby the Company issued 24,752,475 shares of common stock for their rights in Liquid Spins technology and other assets having a value of $10,000,000 based upon recent market value ($0.404/share).&nbsp;&nbsp;&nbsp;&nbsp;The following assets were acquired in the transaction:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Three Months Ended</b></font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Year Ended</b></font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>March 31, 2015</b></font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Intangible at fair value, Opening Balance</font></td><td style="width: 8%"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 12%; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">9,303,679</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 8%"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 12%; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">9,303,679</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Consideration transferred&nbsp;&nbsp;at fair value:</b></font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;Common stock - 24,752,475 Shares</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Net assets acquired:</b></font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Current assets</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Cash</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;Total net assets acquired</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">8,011</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Amortization</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(1,206,949</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td><td><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(965,559</font></td><td style="text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Intangible at fair value, Ending Balance</font></td><td style="padding-bottom: 2.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">8,096,731</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 2.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">8,338,121</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">During the year ended December 31, 2013, the Company received an additional $8,011 related to the acquisition which reduced the carrying value of the intangible asset as of December 31, 2013.&nbsp;&nbsp;For the year ended December 31, 201, the Company recorded $965,559_ of amortization expense.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">For the year ended December 31, 2014 and 2013, the Company recorded $965,559 and $343,898, respectively, of amortization expense.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">For the three months ended March 31, 2015 and 2014, the Company recorded $241,390 and $241,389, respectively, of amortization expense.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif"><b><i>(D) Share Exchange</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">For the three months ended March 31, 2015 and 2014, the Company recorded $241,390 and $241,389, respectively, of amortization expense.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="margin: 0pt">&nbsp;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Transaction Type</b></font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Quantity</b></font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Valuation</b></font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><font style="font: 11pt Times New Roman, Times, Serif"><b>Range of Value per share</b></font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Conversion of convertible debt and accrued interest</font></td><td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">29,796,782</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">791,444</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.02715 - $0.14175</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Services - rendered</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">950,000</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">32,730</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">$0.028 - $0.063</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Return of shares</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(120,000,000</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(1,200</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.00001</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Preferred stock issued in exchange of common stock</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">5,000,000</font></td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">50</font></td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.00001</font></td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Total shares issued</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(89,253,218</font></td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1,401,650</font></td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="margin: 0pt">&nbsp;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Transaction Type</b></font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Quantity</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Valuation</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Range of Value per share</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Conversion of convertible debt and accrued interest</font></td><td style="width: 5%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 5%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 1%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">48,998,342</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 5%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 11%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">3,421,019</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 5%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 11%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$0.02715 - $0.14175</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Services - rendered</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">3,150,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">678,030</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$0.093 - $0.365</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Acquisition of intangibles</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">15,000,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1,514,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$0.0985 - $0.12</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Return of shares</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(4,250,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$0.00 - $0.00</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Settlement of accounts payable</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1,000,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">90,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">0.09</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Total shares issued</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">63,898,342</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">5,703,049</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> </table> <p style="margin: 0pt">&nbsp;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 20%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Balance, December 31, 2014</b></font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 19%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 19%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.38</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 19%; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.7</font></td><td style="width: 1%; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Granted </b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercised</b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Cancelled/Forfeited</b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Balance, March 31, 2015</b></font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.38</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.4</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="margin: 0pt">&nbsp;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Weighted Average</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercise</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Warrants</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Warrants</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Remaining</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Aggregate</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Price</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Outstanding</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Exercisable</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Contractual Life</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>Intrinsic Value</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.10</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 16%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2.90</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 3%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 15%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.25</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">200,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.44</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.40</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,850,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,850,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.73</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">0.45</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.00</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">3,750,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">1.7 years</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="margin: 0pt">&nbsp;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Weighted Average</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Exercise</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Warrants</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Warrants</b></font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Warrants</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Remaining</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Aggregate</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Price</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Outstanding</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Exercisable</b></font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Exercisable</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Contractual Life</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Intrinsic Value</b></font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 16%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">0.10</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 3%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 16%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">200,000</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 3%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 16%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">200,000</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 16%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">200,000</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 3%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 15%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">2.90</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 3%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 15%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">0.25</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">200,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">200,000</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">200,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">0.44</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">0.40</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">2,850,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">2,850,000</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">2,850,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1.73</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">0.45</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">500,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">500,000</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">500,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1.00</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">3,750,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">3,750,000</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">3,750,000</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">1.7 years</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="margin: 0pt">&nbsp;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Three Months Ended</b></font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Year Ended</b></font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>March 31, 2015</b></font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Intangible at fair value, Opening Balance</font></td><td style="width: 8%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 12%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">9,303,679</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="width: 8%"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="width: 12%; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">9,303,679</font></td><td style="width: 1%; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Consideration transferred&nbsp;&nbsp;at fair value:</b></font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;Common stock - 24,752,475 Shares</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>Net assets acquired:</b></font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Current assets</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Cash</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;Total net assets acquired</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">8,011</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Amortization</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(1,206,949</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">(965,559</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 1pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">Intangible at fair value, Ending Balance</font></td><td style="padding-bottom: 2.5pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">8,096,731</font></td><td style="padding-bottom: 2.5pt; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="padding-bottom: 2.5pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">$</font></td><td style="border-bottom: Black 2.5pt double; text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; 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color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 10pt/normal Times New Roman, Times, Serif; 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word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td> <td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></td><td style="text-align: right"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&mdash;&nbsp;&nbsp;</font></td><td style="text-align: left"><font style="font: 10pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; 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text-indent: 27.5pt"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">As of December 31, 2014 and December 31, 2013, the Company owns certain trademarks and technology rights.&nbsp;&nbsp;&nbsp;&nbsp;See Note 1 (I).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">Intangible assets were comprised of the following at March 31, 2015 and December 31, 2014:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif"><b>Useful Life</b></font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>March 31, 2015</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-family: Times New Roman, Times, Serif; text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Distribution rights</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 21%; font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">10 Years</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 19%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">9,647,577</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="width: 5%; font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="width: 19%; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">9,647,577</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Trademarks</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Indefinite</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">7,500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">7,500,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Licensing Rights</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Indefinite</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,064,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">2,064,000</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Software</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">3 Years</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&mdash;&nbsp;&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Other</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Indefinite</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">275</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">275</font></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: right; padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Accumulated amortization</font></td><td style="padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-bottom: 1pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(1,624,847</font></td><td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">(1,361,257</font></td><td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: right; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: right; padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">Net carrying value</font></td><td style="padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">17,587,005</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><font style="font: 11pt Times New Roman, Times, Serif">17,850,595</font></td><td style="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">For the three months ended March 31, 2015 and 2014, amortization expense related to the intangibles with finite lives totaled $263,590 and $241,390, respectively, and was included in general and administrative expenses in the statement of operations.&nbsp;&nbsp;&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> P3Y P5Y P10Y 9647577 444000 7500000 275 1620000 7500000 275 9647577 -1624847 -1361257 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal"><b>NOTE 10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SUBSEQUENT EVENTS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt/normal Times New Roman, Times, Serif; color: Black; letter-spacing: normal; word-spacing: normal">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">Through the filing of these financial statements, the Company converted a total of approximately $223,000 in convertible debt comprised of principal and accrued interest into approximately 9,704,897 common shares.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 1, 2015, the principal stockholder converted $150,000 of the line of credit owed into 5,000,000 shares of common stock at $0.03 per share.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 1, 2015, the Company issued 150,000 shares of common stock having a fair value of $4,470 ($0.0284/sh) in exchange for consulting services.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 1, 2015, the Company issued 300,000 shares of common stock having a f air value of $8,520 ($0.0284/sh) in exchange for consulting services.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 1, 2015, the Company extended the November 26, 2012 employment agreement with its VP of Music Development for another two year period, ending on November 27, 2016. The employee will receive 125,000 shares of common stock per quarter starting on April 1, 2015, and a salary of $10,000 per month. The employee's month base salary will increase to $14,000 per month in the event the Corporation received $1,000,000 from funding or revenues in the 2015 calendar year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 21, 2015, the Company entered into an agreement whereby the Company will issue up to $54,600 in a convertible note. The note matures on April 21, 2016 and bears an interest charge of 8%. The conversion price equals the &ldquo;Variable Conversion Price&rdquo;, which is 65% of the lowest two trading prices for the common stock during the fifteen (15) trading day period prior to the conversion. The holder of the note has a right to convert all or any part of the outstanding unpaid principal amount into shares of common stock after six months. The Company received $52,000 of proceeds less and $2,600 in legal costs on April 21, 2015.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 21, 2015, the Company entered into an agreement whereby the Company will issue up to $204,000 in a convertible note. The note matures on January 23, 2016 and bears an interest charge of 8%. The conversion price equals the &ldquo;Variable Conversion Price&rdquo;, which is 65% of the lowest three trading prices for the common stock during the ten (10) trading day period prior to the conversion. The holder of the note has a right to convert all or any part of the outstanding unpaid principal amount into shares of common stock after six months. The Company received $200,000 of proceeds less and $4,000 in legal costs on April 27 , 2015.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 24, 2015, the Company entered into an agreement whereby the Company will issue up to $103,000 in a convertible note. The note matures on December 10, 2016 and bears an interest charge of 8%. The conversion price equals the &ldquo;Variable Conversion Price&rdquo;, which is lower of the either (i) the closing sale price of the common stock on the trading day immediate receding the closdite or and (ii) 65% of the lowest trading prices for the common stock during the ten (10) trading day period prior to the conversion. The holder of the note has a right to convert all or any part of the outstanding unpaid principal amount into shares of common stock after six months. The Company received $100,000 of proceeds less and $3,000 in legal costs on April 27, 2015.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 21, 2015, the Company entered into an agreement whereby the Company will issue up to $105,000 in a promissory note. The note matures on December 21, 2015 and bears an interest charge of 8%. On April 21, 2015, the Company entered into an agreement whereby the Company will issue up to $105,000 in a promissory note. The note matures on December 21, 2015 and bears an interest charge of 8%.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On April 21, 2015, the Company entered into an agreement whereby the Company will issue up to $105,000 in a convertible note. The note matures on April 21, 2016 and bears an interest charge of 8%. The conversion price equals the &ldquo;Variable Conversion Price&rdquo;, which is 65% of the lowest two trading prices for the common stock during the ten (10) trading day period prior to the conversion. The holder of the note has a right to convert all or any part of the outstanding unpaid principal amount into shares of common stock after six months. The Company received $95,000 of proceeds less $5,000 in debt issue costs and $5,000 in legal costs on April 21, 2015.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">On May 1, 2015, the Company entered into an agreement whereby the Company will issue up to $150,000 in a convertible note. The note matures on November 1, 2015 and bears an interest charge of 8%. The conversion price equals the &ldquo;Variable Conversion Price&rdquo;, which is 60% of the lowest two trading prices for the common stock during the ten (10) trading day period prior to the conversion. The holder of the note has a right to convert all or any part of the outstanding unpaid principal amount into shares of common stock after six months. The Company received $147,000 of proceeds less and $3,000 in legal costs on May 1, 2015.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Subsequent to March 31, 2015, the Company received $106,000 from the principal stockholder under the terms of the line of credit and repaid $5,000 to the principal stockholder under the terms of the line of credit.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">&nbsp;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif">Subsequent to March 31, 2015, the Company repaid $455,729 on convertible notes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 11pt Times New Roman, Times, Serif"><b>&nbsp;&nbsp;</b></font></p> <p style="margin: 0pt">&#160;</p> 194495295 5000 45863963 37761355 15566652 6500000 29778963 12700000 3385000 263590 241390 29796782 48998342 784768 3421019 -120000000 0.04 0.04 84253218 3750000 3750000 P1Y4M24D 0.40 0.45 0.25 .10 3750000 2850000 500000 200000 200000 3750000 2850000 500000 200000 200000 1.4 1.49 0.76 0.20 2.66 9303679 8011 -1206949 -965559 8096731 8338121 24752475 24752475 0 0 1.3782 140.30 3 3 0.01 .037 15566652 0 0.02715 0.14175 0.14175 0.02715 50 2841 3733 792500 2996815 3028418 15665 -55000 -784768 0.04 0.04 0.10 0.10 0.08 0.025 0.025 0.10 0.10 0.10 February 26, 2015 - June 18, 2016 0.14 0.14 0.22 0.22 February 26, 2015 - June 18, 2016 February 26, 2015 - June 18, 2016 65% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the fifteen (15) trading day period prior to the conversion. 65% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the fifteen (15) trading day period prior to the conversion. 65% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion. 65% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion. 65% of the &#147;Market Price&#148;, which is the lowest trading prices for the common stock during the ten (10) trading day period prior to the conversion. 65% of the &#147;Market Price&#148;, which is the lowest trading prices for the common stock during the ten (10) trading day period prior to the conversion. 70% of the &#147;Market Price&#148;, which is lower of the average closing bid price for the common stock during the ten (10) trading day period 70% of the &#147;Market Price&#148;, which is lower of the average closing bid price for the common stock during the ten (10) trading day period 70% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the fifteen (15) trading day period prior to the conversion. 70% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the fifteen (15) trading day period prior to the conversion. 70% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion. 70% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion. 70% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the twenty (20) trading day period prior to the conversion. 70% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the twenty (20) trading day period prior to the conversion. 70% of the lower of the average of the three (3) lowest trading prices for the fifteen (15) day trading period 1 day prior to conversion. 70% of the lower of the average of the three (3) lowest trading prices for the fifteen (15) day trading period 1 day prior to conversion. 75% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion. 75% of the &#147;Market Price&#148;, which is the average of the lowest three (3) trading prices for the common stock during the ten (10) trading day period prior to the conversion. Convertible into $0.07/share.&#160;&#160;After six month from the date of this note, conversion price shall equal the lower of $0.07/share or the variable conversion price - 75% of the average three (3) lowest closing prices during the ten (10) trading day period. Convertible into $0.07/share.&#160;&#160;After six month from the date of this note, conversion price shall equal the lower of $0.07/share or the variable conversion price - 75% of the average three (3) lowest closing prices during the ten (10) trading day period. 689500 689500 1303250 747500 150000 250000 250000 175000 125000 50000 50000 848334 848334 765000 765000 15000000 1514000 .0985 0.12 1 1 1000000 90000 -639570 -651799 1200 -13850 -166778 18596 90362 -55000