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Subsequent Events
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12 Months Ended | ||
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Dec. 31, 2011
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| Subsequent Events [Text Block] |
In January, 2012, we issued to a number of accredited investors an additional series of 10% Senior Secured Convertible Bridge Notes in the aggregate principal amount of $520,000.
In February, 2012, Timothy Schatz was appointed Chief Financial Officer by the Board of Directors.
In February, 2012, we signed an amendment to our operating lease for the facility on 58 West Buffalo St, Chandler, Arizona expanding the amount of leased space for the remaining duration of the lease.
In March, 2012, we issued to a number of accredited investors an additional series of 10% Senior Secured Convertible Bridge Notes in the aggregate principal amount of $65,100.
In March, 2012, one holder of a 10% Senior Secured Convertible Bridge Note was repaid a principal amount of $65,000.
In April, 2012, we issued to a number of accredited investors an additional series of 10% Senior Secured Convertible Bridge Notes in the aggregate principal amount of $125,000.
In March and April 2012, all holders of 10% Senior Secured Convertible Bridge Notes with a maturity date of February 2, 2012 extended the maturity to May 2, 2012. These notes are secured by the assets of the Company.
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