Note 6. Stockholders' Equity

3 Months Ended

Mar. 31, 2015

Notes

Note 6. Stockholders' Equity

Note 6.  Stockholders’ Equity

The Company has 10,000,000 authorized shares of $.001 par value preferred stock.  As of March 31, 2015 and December 31, 2014, there were no shares of preferred stock outstanding.  The Company also has 80,000,000 authorized shares of $.001 par value common stock.   At March 31, 2015 the Company had 39,689,209 shares outstanding.

Shelf Registration Statement

On September 28, 2012, we filed a universal shelf registration statement with the SEC for the issuance of common stock, preferred stock, warrants, senior debt, subordinated debt and units up to an aggregate amount of $50.0 million. On October 11, 2012, the universal shelf registration statement was declared effective by the SEC.    We may periodically offer one or more of these securities in amounts, prices and terms to be announced when and if the securities are offered.  At the time any of the securities covered by the registration statement are offered for sale, a prospectus supplement will be prepared and filed with the SEC containing specific information about the terms of any such offering.  Since the effective date of the shelf registration, we have successfully sold securities in two separate registered direct offerings utilizing this shelf registration statement.  

Warrants

               A summary of the outstanding warrants issued in prior stock offerings as of March 31, 2015, and changes during the three months then ended, is as follows:

	Shares	Weighted- Average Exercise Price		Weighted- Average Remaining Contract Term (Years)
Outstanding at December 31, 2014	9,857,305	$	2.11
Issued	-		-
Exercised	-		-
Forfeited or expired	-		-
Outstanding as of March 31, 2015	9,857,305	$	2.11	3.44
Exercisable as of March 31, 2015	9,857,305	$	2.11	3.44