Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Stockholders' Equity (Deficit)

v2.3.0.11
Consolidated Statements of Stockholders' Equity (Deficit) (USD $)
Total
Class A Preferred Stock
Common Stock
Accumulated Deficit
Balance at Dec. 31, 2009 $ (1,004,735) $ 0 $ 13,587,403 $ (14,592,138)
Balance, shares at Dec. 31, 2009   0 4,932,635  
Issuance of common stock for services 24,500   24,500  
Issuance of common stock for services, shares     40,000  
Net income (loss) (852,612)     (852,612)
Balance at Dec. 31, 2010 (1,832,847) 0 13,611,903 (15,444,750)
Balance, shares at Dec. 31, 2010   0 4,972,635  
Issuance of common stock for services 128,000   128,000  
Issuance of common stock for services, shares     72,841  
Net income (loss) 495,266     495,266
Issuance of common stock for service:        
Settlement of liabilities to unrelated parties at $0.68 per share, shares     770,000  
Settlement of liabilities to unrelated parties at $0.68 per share 1,156,251   481,251  
Settlement of liabilities to related parties at $0.88 per share, shares     770,000  
Settlement of liabilities to related parties at $0.88 per share     675,000  
Consulting related to property acquisition at $6.10 per share, shares     75,000  
Consulting related to property acquisition at $6.10 per share 457,500   457,500  
Services related to financing transaction at $4.00 per share, shares     3,000  
Services related to financing transaction at $4.00 per share 12,000   12,000  
issuance of common stock in exchange for notes payable to:        
Officers and directors at $8.00 per share, shares     62,500  
Officers and directors at $8.00 per share 500,000   500,000  
Others at $1.00 per share, shares     835,000  
Others at $1.00 per share 835,000   835,000  
Issuance of common stock for cash of $1.00 per share, shares     203,500  
Issuance of common stock for cash of $1.00 per share 203,500   203,500  
issuance of class a (series 1) preferred stock for cash:        
Director for $10,000 per share 1,000,000 1,000,000    
Director for $10,000 per share, shares   100.0    
Other at $10,000 per share 4,225,000 4,225,000    
Other at $10,000 per share, shares   422.5    
Offering costs related to issuance of preferred stock (201,629) (201,629)    
Balance at Dec. 31, 2011 $ 6,978,041 $ 5,023,371 $ 16,904,154 $ (14,949,484)
Balance, shares at Dec. 31, 2011   522.5 7,764,476