SUBSEQUENT EVENTS
|
9 Months Ended |
---|---|
Sep. 30, 2012
|
|
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS |
NOTE 11 - SUBSEQUENT EVENTS
In October 2012, HEP Investments advanced the Company an additional $102,000.
In October 2012, the Company received $25,000 from an investor based on a subscription for 200,000 shares of common stock and 20,000, 3 year, $.125 per share common stock warrants at a unit price of $.125 per unit.
In November 2012, the Company received $2,000 from an investor based on a subscription for 16,000 shares of common stock and 1,600, 3 year, $.125 per share common stock warrants at $.125 per unit.
On October 10, 2012 the Company received a notice of Default on the facility located at 15610 North 83rd Way, Scottsdale, Arizona. On October 25, 2012, the Company received notice that the lease had been terminated. In connection with the early termination of this lease, the Company agreed with the Landlord to pay $55,557, with payments of $5,000 per month until the liability is paid. The facility was vacant. It was planned to move the Companys dedicated laboratory facilities from the current facility to this facility. The Company is currently exploring other options. |