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Private Placements
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Private Placements

On January 29, 2010, the Company issued a total of 54,285 shares of restricted common stock in a private placement. The Company received net proceeds from the offering of $190,000.  The Company issued 7,146 shares of common stock for consulting services associated with this private placement valued at market value of $25,000.

 

On May 18, 2010, an additional 5,714 shares of restricted common stock was issued in connection with the January 29, 2010 Private Placement.  These shares were valued at market value of $34,000.

 

On April 21, 2011, the Company issued 414,285 shares of its common stock to eight entities, in exchange for $145,000, pursuant to a Subscription Agreements dated January 20, 2011, March 28, 2011 and March 31,2011.