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7. COMMON STOCK
12 Months Ended
Dec. 31, 2017
STOCKHOLDERS' DEFICIT  
COMMON STOCK

In accordance with the Company’s bylaws, the Company has authorized a total of 250,000,000 shares of common stock, par value $0.01 per share. As of December 31, 2017 and December 31, 2016, there were 61,322,567 and 59,731,567 common shares issued and outstanding.

 

During the year ended December 31, 2017, the Company issued 1,591,000 shares of common stock to investors for $50,300 cash.

 

During the year ended December 31, 2016, the Company issued 1,445,000 shares of common stock to investors for $70,000 cash and 1,046,121 shares of common stock valued at $37,029 to a related party in payment of accrued preferred stock dividends.