Quarterly report pursuant to Section 13 or 15(d)

I. CAPITAL STOCK

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I. CAPITAL STOCK
9 Months Ended
Sep. 30, 2015
Stockholders' Equity Note [Abstract]  
NOTE I - CAPITAL STOCK

The Company has authorized 15,000,000 shares of preferred stock (designated and undesignated), with a par value of $.001 per share. The Company has designated 215 shares as Series A preferred stock and 538 shares as Series B preferred stock. At both September 30, 2015 and December 31, 2014, there were 185 shares of Series A and 55 shares of Series B outstanding.

 

The Company has authorized 190,000,000 shares of common stock with a par value of $.001 per share. As of September 30, 2015 and December 31, 2014 the Company had 127,054,848 and 125,035,612 common shares issued and outstanding.

 

During the nine months ended September 30, 2015, 2,019,236 warrants were exercised for an aggregate of 2,019,236 shares of the Company’s common stock at $0.13 per share. These warrants were originally granted to shareholders of the August 4, 2010 Series B preferred stock issuance.