Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS EQUITY

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STOCKHOLDERS EQUITY
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
STOCKHOLDERS EQUITY

NOTE 13. STOCKHOLDERS’ EQUITY

We had 65,000,000 shares of $.001 par value common stock and 10,000,000 shares of $.001 par value preferred stock authorized as of December 31, 2014.

In February 2014, an independent contractor (the “Contractor”) was granted 150,000 shares of our restricted common stock.  Of this amount, 75,000 vested and transferred immediately, with the remaining 75,000 vesting in equal installments through (and transferring on) January 1, 2015.

In March 2014, Norm DesRosiers, one of our Directors, was granted 100,000 shares of our restricted common stock as condition of his Board of Directors Director Service Agreement.  The fair market value of the grant was $28,000 which was determined using our closing stock price at March 1, 2014, the date of the grant.  The restricted stock grant vested immediately.  

In May 2014, William A. Zender, one of our Directors, was granted 75,000 shares of our restricted common stock as condition of his Board of Directors Director Service Agreement.  The fair market value of the grant was $35,250 which was determined using our closing stock price at May 1, 2014 the date of the grant.  The restricted stock grant vested immediately.  

In December 2014, the Board of Directors approved a stock grant for a small group of employees that granted 255,000 shares of restricted common stock.  The fair market value of the grant was $102,000 which was determined using our closing stock price at December 29, 2014, the date of the grant.  The restricted stock grant vested immediately.  

In December 2014, the Compensation Committee of the Board of Directors approved a bonus in the form of stock compensation to our Chief Financial Officer Gary A. Vecchiarelli, based on Mr. Vecchiarelli’s individual performance.  The stock grant was for 100,000 restricted shares of our common stock with a fair market value of $40,000.  The value of the bonus was determined using our closing stock price at December 29, 2014, the date of the grant.

There were 38,990,591 common shares and no preferred shares issued and outstanding at December 31, 2014.