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Subsequent Events
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
Note 12. Subsequent Events

 

On July 10, 2012, the Company awarded 500,000 shares of common stock to a consultant for certain advisory services to be provided.

 

On July 19, 2012, 535,714 of the Warrants with an exercise price of $0.21 per share have been exercised and the Company received proceeds of $112,500 from the exercise of the Warrants.  These Warrants were issued during the year ended January 1, 2011, pursuant to the Subscription Agreement entered into by the Company on April 22, 2010.

 

On July 20, 2012, the Company awarded 55,000 shares of common stock to a consultant for certain investor relations services provided.

 

On July 31, 2012, 6,117 of the stock options granted to an employee with an exercise price of $0.50 per share have been exercised and the Company received proceeds of $3,059 from the exercise of the stock options.

 

On August 7, 2012, the Company awarded 110,294 shares of common stock to a consultant for certain legal services provided.

 

On August 7, 2012, the Company awarded 75,000 shares of common stock and warrants to purchase 250,000 shares of common stock with an exercise price of $0.75 and a term of 2 years to a consultant for certain investor relations services to be provided.