7. STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2013

Notes to Financial Statements

7. STOCKHOLDERS' EQUITY

On June 25, 2013, Victory sold 10,000,000 shares of the common stock at $.25 per share. Victory raised a total of $2,500,000 as part of this financing, $200,000 of which was allocated at the closing for the retirement of the $200,000 debenture note payable. Victory also incurred approximately $300,000 in direct offering costs related to the selling of 10,000,000 common shares. These offering costs were netted against the proceeds received from the issuance.