Quarterly report pursuant to Section 13 or 15(d)

WARRANTS

v2.4.0.8
WARRANTS
3 Months Ended
Jun. 30, 2013
WARRANTS [Text Block]

NOTE 7 – WARRANTS

The following is a summary of the status of all of the Company’s stock warrants as of June 30, 2013 and changes during the three months ended on that date:

    Number     Weighted-Average  
    of Warrants     Exercise Price  
Outstanding at April 1, 2013   -   $ 0.00  
   Granted   2,830,763   $ 0.53  
   Exercised   -   $ 0.00  
   Cancelled   -   $ 0.00  
Outstanding at June 30, 2013   2,830,763   $ 0.53  
Warrants exercisable at June 30, 2013   2,830,763   $ 0.53  

The following table summarizes information about stock warrants outstanding and exercisable at June 30, 2013:

    STOCK WARRANTS OUTSTANDING AND EXERCISABLE
        Weighted-Average    
    Number of   Remaining   Weighted-
    Warrants   Contractual   Average
Exercise Price   Outstanding   Life in Years   Exercise Price
$0.50   1,887,175   1.92   $0.50
$0.60   943,588   1.92   $0.60