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NOTE D - STOCK BASED COMPENSATION
3 Months Ended
Sep. 30, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE D – STOCK-BASED COMPENSATION

During the three months ended September 30, 2012, MI issued 72,512 shares of common stock for settlement of services to outside consultants and certain employees.  We valued these shares at the fair market value on the dates of issuance of $8,168.

No warrants were issued or forfeited during the quarter ended September 30, 2012.  A total of 437,760 warrants with a weighted average exercise price of $0.13 and a weighted average remaining life of 3.42 years were outstanding and exercisable as of September 30, 2012.

No options were issued or forfeited during the quarter ended September 30, 2012. A total of 32,097,740 options with a weighted average exercise price of $0.13 and a weighted average remaining life of 3.42 years were outstanding and exercisable as of September 30, 2012.