| Fiscal Year | Shares | Gross proceeds | Offering costs | Net proceeds | Relative fair value allocated to warrants | Amount allocated to common stock and paid-in capital | Per share price range | |||||||||||||||||||||
| 2005 (1) | 71,052,672 | $ | 7,500 | $ | - | $ | 7,500 | $ | - | $ | 7,500 | $ | 0.0001 | |||||||||||||||
| 2006 | 47,368,454 | 50,000 | - | 50,000 | - | 50,000 | 0.0011 | |||||||||||||||||||||
| 2007 | - | - | - | - | - | - | - | |||||||||||||||||||||
| 2008 | 2,631,595 | 50,000 | - | 50,000 | - | 50,000 | 0.019 | |||||||||||||||||||||
| 2009 | - | - | - | - | - | - | - | |||||||||||||||||||||
| 2010 | 18,000,000 | 4,500,000 | 410,680 | 4,089,320 | 1,806,181 | 2,283,139 | 0.25 | |||||||||||||||||||||
| 2011 | 55,685,324 | 10,381,739 | 1,012,361 | 9,369,378 | 3,288,346 | 6,081,032 | 0.05 - 0.27 | |||||||||||||||||||||
| 2012 | 42,295,300 | 8,210,013 | 685,944 | 7,524,069 | 3,779,978 | 3,744,091 | 0.05 - 0.21 | |||||||||||||||||||||
| 2013 | 62,499,938 | 9,999,990 | 500,000 | 9,499,990 | 4,478,014 | 5,021,976 | 0.16 | |||||||||||||||||||||
| (1) | On October 19, 2009, 71,052,626 shares of the Company's common stock owned by the founding shareholder, were surrendered and cancelled in exchange for the Company's interest in a wholly-owned subsidiary. The net assets of the Company's wholly-owned subsidiary prior to the exchange were $-0- as of October 19, 2009. Therefore, the share cancellation was valued at $-0-. |
| Fiscal Year | Shares | Fair value of shares issued | Amount allocated to common stock par value | Amount allocated to paid-in capital | Per share price range | |||||||||||||||
| 2005 | - | $ | - | $ | - | $ | - | $ | 0.00 | |||||||||||
| 2006 | - | - | - | - | 0.00 | |||||||||||||||
| 2007 | - | - | - | - | 0.00 | |||||||||||||||
| 2008 | - | - | - | - | 0.00 | |||||||||||||||
| 2009 | - | - | - | - | 0.00 | |||||||||||||||
| 2010 | 2,625,000 | 811,050 | 2,625 | 808,425 | 0.003 - 0.93 | |||||||||||||||
| 2011 | 5,603,501 | 1,697,567 | 5,603 | 1,691,964 | 0.235 - 0.385 | |||||||||||||||
| 2012 | 1,573,333 | 135,200 | 1,574 | 133,626 | 0.106 - 0.38 | |||||||||||||||
| 2013 | 7,198,294 | 469,737 | 7,198 | 462,539 | 0.035 - 0.068 | |||||||||||||||