12. Stockholders deficit

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

12. Stockholders deficit

12. Stockholders’ deficit

Authorized common shares

On June 30, 2012, the Company filed a Certificate of Amendment with the Colorado Secretary of State to increase the aggregate number of shares, which the Company has authority to issue to one hundred million (100,000,000) common shares, issued at $0.01 par value per share from 50,000,000 common shares with par value at $0.01. The amendment was approved by the Colorado Secretary of State in May 2012.

On March 25, 2013 the Company filed a certificate of Amendment with the Colorado Secretary of State to increase the aggregate number of shares which the Company has the authority to issue to five hundred million (500,000,000) common shares, issued at $0.01 par value per share from 100,000,000 common shares with par value at $0.01, to authorize three million (3,000,000) series A convertible preferred shares, par value of $0.01 per share, and to the authorize ten million (10,000,000) series B convertible preferred shares, par value $0.01 per share. Each series B convertible preferred shares is convertible into 10 Common shares. The amendment was approved by the Colorado Secretary of State on March 26, 2013. 

Issued common shares

The Company has a total of 47,693,055 issued and outstanding common shares as at September 30, 2014. At December 31, 2013 to the Company had 41,065,544 issued and outstanding common shares.

The Company issued 2,127,490 shares of its common stock to satisfy its obligations under an aggregate principal of $ 284,907 of convertible promissory notes for the nine month period ended September 30, 2014.

The Company issued 4,500,000 shares of its common stock for cash of $ 382,500 during the nine month period ended September 30, 2014.

Warrants Issued

The Company conducted a private placement in the 1st quarter of 2014 that included warrants. A total of 6,000,000 warrants were issued January 16, 2014 that can be exercised on a one for one basis for shares for a 3 year term from issue date at .15 cents a share.