NOTE 9 - STOCKHOLDER'S EQUITY

3 Months Ended

Mar. 31, 2015

Note 9 - Stockholders Equity

NOTE 9 - STOCKHOLDER'S EQUITY

NOTE 9 – STOCKHOLDER’S EQUITY

Debt beneficial conversion feature for warrants – During the quarter ended March 31, 2015, the Company raised gross proceeds of $200,000 pursuant to an Unsecured Redeemable Debenture Series F (the “Series F Debentures”) that allocated the face value of the Series F Debentures to the warrants and the debentures based on their relative fair values and, resulted in the recording of beneficial conversion features totaling $200,000 as a discount against the Series F Debentures, with offsetting entry to additional paid-in capital. The discounts are being amortized into interest expense over the term of the Series F Debentures.