Stockholders' Deficit

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Deficit

12. Stockholders’ Deficit

2013

There were no equity transactions for the three months ended March 31, 2013.

2012

On January 4, 2012, the Company increased the number of the Company’s authorized shares of capital stock from 810,000,000 shares to 3,020,000,000 of which 3,000,000,000 shares will be common stock par value $0.01 per share (“Common Stock”) and 20,000,000 shares will be preferred stock par value $1.00 per share (“Preferred Stock”). Additionally on January 4, 2012, the Company accepted subscriptions in the amount of $150,000 and issued 15,000,000 shares of Common Stock. In connection with these Common Stock issuances, the Company also issued 15,000,000 warrants to purchase Common Stock of the Company, which will expire on December 31, 2013 and extended the expiration date of 20,000,000 warrants which had expired to December 31, 2013.

During January 2012, the Company issued 1,800,000 shares of common stock for consulting services. On the dates of the issuances, the common stock had a fair market value of $0.01 per share. The Company recorded consulting fee expense of $18,000 for the issuance of the shares.

During the three months ended March 31, 2012, the Company issued MIT 5,000,000 shares of common stock in connection with the purchase of MIT, which were valued at fair market value on the date of issuance ($0.01 per share).

During the three months ended March 31, 2012, the Company issued 25,000,000 shares of Common Stock and a convertible debenture due on December 31, 2013, with interest at the rate of 8%, to a related party as the purchase price for the office space previously leased by the Company which was valued at fair market value on the date of issuance ($0.01 per share). In addition, the Company issued 35,000,000 warrants exercisable at $0.01, which entitle the related party to purchase shares of the Company’s common stock of the Company, which will expire on December 31, 2013.

During the three months ended March 31, 2012, the Company accepted subscriptions in the amount of $85,000 and issued 8,500,000 shares of Common Stock. In connection with these Common Stock issuances, the Company also issued 8,500,000 warrants to purchase Common Stock of the Company, which will expire on December 31, 2013, and extended the expiration date of 8,250,000 warrants which had expired to December 31, 2013.

During March 2012, the Company issued 4,800,000 shares of common stock for consulting services. On the dates of the issuances, the common stock had a fair market value of approximately $0.017 per share. The Company recorded consulting fee expense of $81,000 for the issuance of the shares.