Quarterly report pursuant to sections 13 or 15(d)

STOCKHOLDERS EQUITY

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STOCKHOLDERS EQUITY
 6 Months Ended
Jun. 30, 2012
Equity [Abstract]  
STOCKHOLDERS EQUITY

 

We have 65,000,000 shares of $.001 par value common stock and 10,000,000 shares of $.001 par value preferred stock authorized as of June 30, 2012 and December 31, 2011. As of December 31, 2011, there were 37,508,091 shares of common stock and -0- preferred shares outstanding. During the six months ended June 30, 2012, we did not sell any additional shares of common stock to the public. On March 29, 2012, our Board of Directors approved a stock grant for a small group of employees that granted 802,500 shares of restricted common stock valued at $0.10 per share. There were 38,310,591 common shares and -0- preferred shares issued and outstanding at June 30, 2012.