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Stockholders' Equity
12 Months Ended
Dec. 31, 2011
Stockholders' Equity [Abstract]  
STOCKHOLDERS' EQUITY

NOTE J — STOCKHOLDERS’ EQUITY

ISSUANCES OF COMMON STOCK

During 2011, Milestone issued 75,000 shares valued at $45,000 for the directors compensation.

During 2011, Milestone issued 327,222 shares valued at $191,214 for payment of consulting services.

During 2011, Milestone issued 38,699 shares valued at $30,000 for payment of employee compensation.

During 2011, Milestone sold 99,999 shares valued at $30,000.

During 2011, Milestone’s to be issued shares are 12,153 valued at $4,375 for the officer’s deferred compensation.

During 2011, Milestone’s to be issued shares are 748,990 valued at $420,000 for employee for bonus compensation.

During 2011, Milestone’s to be issued shares are 103,300 valued at $60,813 for the consulting services.

 

SHARES TO BE ISSUED

As of December 31, 2011 and 2010, there were 1,501,456 and 637,013 shares that have been deferred from being issued, subject to employment agreements with the Chief Executive Officer, Chief Financial Officer and employees of the Company. Such shares will be issued to each party upon termination of their employment.

OUTSTANDING WARRANTS

At December 31, 2011, there were 45,000 warrants outstanding. These warrants were issued in connection with the Long Term note of $450,000, exercisable at $0.32 per share, expiring in June 2012.

There were no warrants issued in 2011 and 2010.

SHARES RESERVED FOR FUTURE ISSUANCE

At December 31, 2011 and 2010 there were 3,694,072 and 3,521,850 shares reserved for future; 1,599,281 and 1,538,503 shares underlying other stock options and warrants that were outstanding at December 31, 2011 and 2010, respectively: 1,501,457 shares in 2011 and 637,013 shares in 2010 to be issued in settlement of deferred compensation to Officers of the Company; and 593,335 shares in 2011 and 2010, respectively, for Performance Options issued to an Officer of the Company. 73,333 options were issued but not vested in 2010 for the Performance Options noted above.

In December 2007, the Board of Directors authorized the Company to issue up to $2 million of its Company stock to vendors or employees, and to grant them piggy back registration rights in the usual form, at a value of not less than 90% of the market value on the date of the agreement for the vendor or employee to accept said shares. Such future shares are not included in the above noted shares reserved for future issuance.

In June 2011, the Shareholders of the Company approved the 2011 Stock Option Plan (the “2011 Plan”) that provides for stock options to our employees, directors and consultants an incentive and non-qualified stock options to purchase up to 2,000,000 shares of Common Stock. Such future shares are included in the above noted shares reserved for future issuances.