7. STOCKHOLDERS’ EQUITY

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

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 a $200,000 debentures 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. On August 26, 2013, the Company returned 1,600,000 shares of its common stock owned by Mr. Martin to its treasury.