oh boy
oh boy, on holiday and the margaritas are good and some bored and there is the internet place here, and I look again at the SEC and this from the next 10q and this says from January 18 to Febray 4 another 6,000,000 cashless options were exercied and issued. to who??? thought I would not get lied to by old management, so disappoiting!!! I just found that management also issued 33,500,000 shares to themselves at 20 cents Novemeber. somebody in manamgement meeds to tell us who received all of that options , i mean all of the cash less ones to
if my reading is right we have shares from options of 9,800,000 and 1,100,000 and 2,900,000 all free trading AND 22,000,000 pp at 5 pennies all free and already somebody exercise 2,000,000 warrants at 7.5 cents o janury 21 AND harp 5,000,000 AND the finders fee of 16,666,667 all free now
SA, hope you will look at this and check the 10q and see what you think? are my numbers wrong
from 10q files April 18, 2011 from SEC EDGAR for quarter end feb 28, 2011
page 14
8. Common Stock
a) As at February 28, 2011, the Company has received stock subscriptions for 450,000 units at
.45 per share pursuant to a private placement for proceeds of $202,500, which is included in common stock subscribed. Each unit consists of one common share of the Company's common stock and one share purchase warrant entitling the holder to purchase one share of common stock at an exercise price of
.52 per share expiring 18 months from the date of issuance. The Company completed the private placement and issued the shares on March 11, 2011. Refer to Note 14(a).
b) On February 23, 2011, the Company issued 20,000 shares of common stock upon the exercise of 20,000 stock options for proceeds of $6,000.
c) On February 4, 2011, the Company issued 2,900,000 shares of common stock upon the cashless exercise of 2,900,000 stock options.
d) On January 31, 2011, the Company issued 2,000,000 shares of common stock upon the exercise of 2,000,000 stock purchase warrants for proceeds of $150,000.
e) On January 18, 2011, the Company issued 1,100,000 shares of common stock upon the cashless exercise of 1,100,000 stock options.
f) On January 12, 2011, the Company issued 20,000 shares of common stock upon the exercise of 20,000 stock options for proceeds of $6,000.
g) On January 11, 2011, the Company issued 22,000,000 units at
.05 per unit for proceeds of $1,100,000 pursuant to a private placement. Each unit consists of one share of common stock and one purchase warrant entitling the holder to purchase one share of common stock at an exercise price of
.075 per share until January 10, 2013.
h) On November 23, 2010, the Company issued 50,000 shares of common stock upon the exercise of 50,000 stock options for proceeds of $15,000.
i) On September 20, 2010, the Company issued 5,000,000 units with a fair value of $3,785,505 to the Chief Executive Officer of the Company to settle debt of $614,352. Each unit consists of one share of common stock and one purchase warrant entitling the holder to purchase one share of common stock at an exercise price of
.25 per share expiring on September 20, 2012.
j) On September 15, 2010, the Company issued 133,333,333 shares of common stock pursuant to the Acquisition Agreement described in Note 6(f).
k) On September 15, 2010, the Company issued 16,666,667 shares of common stock pursuant to the Transaction Fee Agreement described in Note 6(f).
l) On August 23, 2010, the Company issued 9,800,000 shares of common stock upon the cashless exercise of 9,800,000 stock options.
page 15
9. Stock Options
The Company adopted a Stock Option Plan dated April 27, 2007, (the "2007 Stock Option Plan"), under which the Company is authorized to grant stock options to acquire up to a total of 10,000,000 shares of common stock. At February 28, 2011, the Company had no shares of common stock available to be issued under the 2007 Stock Option Plan.
The Company adopted an additional Stock Option Plan dated October 20, 2008 (the "2008 Stock Option Plan"), under which the Company is authorized to grant stock options to acquire up to a total of 10,000,000 shares of common stock. At February 28, 2011, the Company had no shares of common stock available to be issued under the 2008 Stock Option Plan. On August 11, 2010, the Company granted stock options to acquire 3,800,000 common shares at a price of
.05 per share exercisable for 10 years. During the nine months ended February 28, 2011, the Company recorded stock-based compensation of $415,102 as consulting expense.
The Company adopted an additional Stock Option Plan dated August 11, 2010 (the "August 2010 Stock Option Plan"), under which the Company is authorized to grant stock options to acquire up to a total of 10,000,000 shares of common shares. At February 28, 2011, the Company had no shares of common stock available to be issued under the August 2010 Stock Option Plan. On August 11, 2010, the Company granted stock options to acquire 6,000,000 common shares at a price of
.05 per share exercisable for 10 years. During the nine months ended February 28, 2011, the Company recorded stock-based compensation of $655,425 as consulting expense.
On October 21, 2010, the Company granted stock options to acquire 4,000,000 common shares at a price of
.30 per share exercisable for 10 years. During the nine months ended February 28, 2011, the Company recorded stock-based compensation of $1,189,225 as consulting expense.
The Company adopted an additional Stock Option Plan dated November 29, 2010 (the "November 2010 Stock Option Plan"), under which the Company is authorized to grant stock options to acquire up to a total of 40,000,000 shares of common shares. At February 28, 2011, the Company had 6,500,000 shares of common stock available to be issued under the November 2010 Stock Option Plan. On November 29, 2010, the Company granted stock options to acquire 33,500,000 common shares at a price of
.20 per share exercisable for 10 years. During the nine months ended February 28, 2011, the Company recorded stock-based compensation of $5,047,509 as consulting expense.