6. Common Stock

In May and June of 2014, the Company issued 12,187,500 shares as part of a follow private placement to the original April 2014 private placement as part of the Medite Enterprise transaction (see Note 2) and raised gross proceeds of $195,000. Additional gross proceeds of $117,188 were received in July 2014 for the issuance of 7,812,350 shares. The company in succession of the original private placement and follow up offering is in process of completing an additional private offering for $800,000.

By majority shareholder vote, the company effective November 13, 2014 has registered to increase authorized common stock shares to 3.5 billion shares. During the quarter, the Company’s Board of Directors has also authorized the change of the company’s name from CytoCore Inc. to Medite Cancer Diagnostics, Inc. The Company is in the process of registering the name Medite Cancer Diagnostics with the State of Delaware. The company believes recent approval is imminent from FINRA, the Financial Industry Regulatory Authority approving the company’s name change after filing for approval in July 2014.

During the second quarter of 2014, the Company issued 3,589,214 shares of its common stock to one of its vendors in satisfaction of a $36,000 liability to the vendor.

During the second quarter of 2014, the Company issued 4,877,111 shares of its common stock to former directors and consultants in satisfaction of certain liabilities owed them for their services in the amount of $82,000.