Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF STOCKHOLDERS' EQUITY

v2.4.0.8
STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)
Series A Preferred Stock
Series B Preferred Stock
Series C Preferred Stock
Series D Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Total Stockholders' Equity
Beginning Balance, amount at Mar. 28, 2011                
Share offering at $0.833 per share, shares 600,000       2,800,000      
Share offering at $0.833 per share, value $ 60       $ 280 $ 503,660   $ 504,000
Share offering at $2.00 per share, shares   1,500,000            
Share offering at $2.00 per share, value   150       2,999,850   3,000,000
Stock-based compensation           212,114   212,114
Net loss for the period             (941,097) (941,097)
Ending Balance, amount at Dec. 31, 2011 60 150     280 3,715,624 (941,097) 2,775,017
Ending Balance, shares at Dec. 31, 2011 600,000 1,500,000     2,800,000      
Share offering at $2.00 per share, shares     760,000          
Share offering at $2.00 per share, value     76     1,519,924   1,520,000
Stock-based compensation           456,998   456,998
Dividends payable on preferred stock             (49,172) (49,172)
Shares acquired as treasury stock and retired, shares         (1,050,000)      
Shares acquired as treasury stock and retired, value         (105) 105    
Stock options exercised, shares         150,000      
Stock options exercised, value         15 299,985   300,000
Net loss for the period             (2,440,538) (2,440,538)
Ending Balance, amount at Dec. 31, 2012 60 150 76   190 5,992,636 (3,430,807) 2,562,305
Ending Balance, shares at Dec. 31, 2012 600,000 1,500,000 760,000   1,900,000      
Stock-based compensation           216,083   216,083
Preferred stock conversion to common, shares (600,000) (1,323,000) (659,000)   6,182,000      
Preferred stock conversion to common, value (60) (132) (66)   618 (360)    
Share offering, shares       727,648        
Share offering, value       73   2,182,871   2,182,944
Share issuance costs           (84,232)   (84,232)
Dividends accrued on Series C shares             (69,096) (69,096)
Dividends accrued on Series D shares             (68,425) (68,425)
Beneficial conversion feature on Series D issuance           176,729 (176,729)  
Net loss for the period             (3,068,701) (3,068,701)
Ending Balance, amount at Dec. 31, 2013   $ 18 $ 10 $ 73 $ 808 $ 8,483,727 $ (6,813,758) $ 1,670,878
Ending Balance, shares at Dec. 31, 2013   177,000 101,000 727,648 8,082,000