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EQUITY
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9 Months Ended |
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Jun. 30, 2012
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| EQUITY [Abstract] | |
| EQUITY |
NOTE 7 -EQUITY
Common Stock
In December 2011, the Company issued 3,671,301 shares of the Company's common stock to a consultant in exchange for services previously accrued in the amount of approximately $7,300.
In January 2012, the Company issued 5,000,000 shares of the Company's common stock to a consultant in exchange for services valued at approximately $12,500. In February 2012, the Company issued 3,750,000 shares of the Company's common stock to a consultant in exchange for services valued at approximately $9,375.
In April 2012, the Company authorized the issuance of 20,000,000 shares of the Company's common stock to a consultant in exchange for services valued at $50,000. As of June 30, 2012, the Company had recognized $13,636 and the remaining balance is included in prepaid expenses and other current assets.
In April 2012, two officers and directors of the Company converted accrued consulting fees of $36,000 into 9,856,380 shares of common stock.
In April 2012, a consultant to the Company converted accrued consulting fees of $14,000 into 3,835,616 shares of common stock.
In April 2012, four noteholders converted $50,000 of promissory notes into 20,000,000 shares of the Company's common stock.
In May 2012, a convertible noteholder converted $8,000 of a convertible note into 4,444,444 shares of the Company's common stock.
In June 2012, a convertible noteholder converted $8,000 of a convertible note into 8,791,209 shares of the Company's common stock.
In June 2012, two officers and directors of the Company converted accrued consulting fees of $112,954 into 28,596,608 shares of common stock.
Preferred Stock
Dividends payable on Series A Convertible Preferred Stock of approximately $107,000 are included in Accrued Expenses at June 30, 2012. |