NOTE 8 – OBLIGATION TO ISSUE COMMON STOCK

As of December 31, 2012, the Company was obligated to issue an aggregate of 1,740,698 shares of common stock valued at $337,478 to certain investors and Great Northern Reserve Partners, LLC, a former consultant (Andrew Dahl, CEO of the Company, was principal partner of Great Northern and Reserve Partners).

During the quarter ended March 31, 2013, the Company became obligated to issue an additional 165,600 shares valued at $28,152 to certain investors.

As of March 31, 2013, the total amount of shares of common stock to be issued was 1,906,298 at a total value of $365,630.