Quarterly report pursuant to Section 13 or 15(d)

Convertible Preferred Stock (Narrative) (Details)

v2.4.0.8
Convertible Preferred Stock (Narrative) (Details) (Series E Preferred Stock)
9 Months Ended
Sep. 30, 2014
Series E Preferred Stock
 
Voting rights of series E convertible preferred shares

Entitled to vote 1,000 votes per share of Series E Convertible Preferred Shares.

Convertible preferred stock conversion terms

Convertible to common stock at the average closing bid price for the Company’s common stock for the 5 trading days prior to the conversion date, and is adjustable to prevent dilution.  (Convertible to 594,350 common shares at September 30, 2014).

Convertible at the Option of the Company at par value only after repayment of the shareholder loans from Joseph Fiore and subject to the holder’s option to convert.