11. BONDING

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

11. BONDING

During the six months ending June 30, 2015, 5,864,393 shares of common stock were issued. These shares were valued at $1.40 and $1.27 per share dependent upon the date of issuance. The fair value of the shares of common stock were based on the quoted trading price on the date of issuance. 173,550 of these shares were issued to vendors for services generating a professional fees expense of $242,970. 5,690,843 of these shares were issued to officers and employees as incentive compensation resulting in compensation expense of $7,356,180.