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Prepaid Expense
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Prepaid Expense

NOTE 9 - PREPAID EXPENSE

 

On May 11, 2011, 1,823,185 common shares valued at $0.75 per share were issued to Capital Group Communication, Inc. in exchange for investor relations services valued at $1,367,389. The services are for a 24 month term. As of March 31, 2012, the prepaid balance is $740,664.

 

On March 23, 2012, 1,000,000 shares of restricted common stock valued at $1.07 per share were issued to Lagoon Labs, LLC in exchange for consultations with management as well as providing investor communications and public relations, with an emphasis on digital and social media. The services are for a 12 month term. As of March 31, 2012, the prepaid balance is $936,249.