Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v2.4.0.8
Subsequent Events
9 Months Ended
Sep. 30, 2013
Subsequent Events  
Note 10. Subsequent Events

Subsequent to September 30, 2013, the Company received cash subscriptions of $250,000 for units comprising 121,952 shares of common stock and 121,952 warrants. The unit price was $2.05 for one share together with a warrant to purchase one share for every share subscribed for. The warrants are exercisable immediately upon issuance for five years at an exercise price of $2.40. Additionally the Company has received subscription agreements for a further $500,000 of units on the same terms as above. Neither the shares nor the warrants relating to the foregoing subscriptions have yet been issued.