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Senior Secured Convertible Debentures
3 Months Ended
Mar. 31, 2013
Senior Secured Convertible Debentures  
Note 4 - Senior Secured Convertible Debentures

All share references have been adjusted to reflect a 50:1 reverse stock split by the Company on January 12, 2012.

 

During the years ended December 31, 2011 and December 31, 2012 the Company raised $4,935,000 from accredited investors via 10% Senior Secured Convertible Debentures. Specifically the Company raised $3,120,000 in 2011 and $1,815,000 on February 29, 2012. These debentures were converted to 19,505,523 shares of the Company’s common stock in accordance with the terms of the debenture, on February 29, 2012. As of the periods ended March 31, 2013 and December 31, 2012, the Company no longer had any outstanding Senior Secured Convertible Debentures.