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Subsequent Events
9 Months Ended
Sep. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events

Note 7: Subsequent Events

 

On October 5, 2012, the Company issued 130,000 stock options pursuant to the terms of the 2010 Employee Stock Option Plan. The exercise price of the options is $.99 per share and the options vest equally at the rate of 25% per year with the first options vesting on October 5, 2013. On that same date, the Company issued 880,000 stock options pursuant to the terms of the 2010 Employee Stock Option Plan. The exercise price of the options is $0.99 per share, and they shall vest equally over 4 years at the rate of 25%, or 55,000 options per year, with the first options vesting on October 5, 2013. These options are subject to the Company achieving certain financial goals.

 

On October 23, 2012 SMTP engaged a consulting firm to aid in increasing SMTP’s online presence, brand awareness and sales. This contract is for a total value of $300,000 over the next twelve months up to 50% of which can be paid in stock and commits SMTP to make certain payments.

 

On October 29, 2012, the Company issued 454,863 warrants to a consulting firm provider with an exercise price equal to the market price of the Company’s stock on the day of issuance. The warrants shall vest equally over a six month period.