Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders' Equity

NOTE J — STOCKHOLDERS’ EQUITY

ISSUANCES OF COMMON STOCK

During 2013, Milestone issued 39,129 shares valued at $45,000 for the directors compensation.

During 2013, Milestone issued 312,956 shares valued at $400,000 for payment of consulting services.

During 2013, Milestone issued 614,344 shares valued at $860,080 for the conversion of notes payable and accrued interest.

During 2013, Milestone issued 37,425 shares valued at $47,500 for payment of employee compensation.

During 2013, Milestone issued 56,666 shares valued at $34,600 for exercise of stock options to two independent directors.

During 2013, Milestone sold 135,714 shares valued at $200,000.

During 2013, Milestone’s to be issued shares are 204,222 valued at $312,000 for employee for bonus compensation.  

During 2012, Milestone issued 155,172 shares valued at $45,000 for the directors compensation.

During 2012, Milestone issued 543,209 shares valued at $217,415 for payment of consulting services.

During 2012, Milestone issued 105,451 shares valued at $43,125 for payment of employee compensation.

During 2012, Milestone sold 107,143 shares valued at $150,000.

During 2012, Milestone’s to be issued shares are 229,705 valued at $237,000 for employee for bonus compensation.

During 2012, Milestone converted 83,300 to be issued shares to issued shares, valued at $50,813, for consulting services.

During 2012, Milestone converted 12,153 to be issued shares to issued shares, valued at $4,375, for employee compensation.

SHARES TO BE ISSUED

As of December 31, 2013 and 2012, there were 1,839,930 and 1,635,709 shares that have been deferred from being issued, subject to employment agreements with the Chief Executive Officer, Chief Financial Officer and employees of Milestone. Such shares will be issued to each party upon termination of their employment. The number of shares were fixed at date of grant and there are no conditions other than the continued employment by the officers. The grant were fully vested upon grant date.

SHARES RESERVED FOR FUTURE ISSUANCE

At December 31, 2013 and 2012 there were 3,497,761 and 3,752,782 shares reserved for future issuance; 1,657,831 and 1,523,740 shares underlying other stock options and warrants that were outstanding at December 31, 2013 and 2012, respectively: 1,839,930 shares in 2013 and 1,635,709 shares in 2012 to be issued in settlement of deferred compensation to Officers of Milestone; and 593,334 shares in 2013 and 593,334 shares in 2012, for Performance Options issued to an Officer of Milestone. The Performance Options were cancelled in December 2013.

In December 2007, the Board of Directors authorized Milestone to issue up to $2 million of its common 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.