Annual report pursuant to Section 13 and 15(d)

8. Transactions with Related Persons

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8. Transactions with Related Persons
12 Months Ended
Dec. 31, 2014
Related Party Transactions [Abstract]  
8. Transactions with Related Persons

From time to time Mr. Richard T. Schumacher, the Company’s President and CEO, makes loans to the Company to provide the Company with operating cash. The balance of these loans at December 31, 2014 was $6,000.

 

On January 28, 2014, Mr. Schumacher invested $10,000 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 40 shares of convertible Preferred Stock (convertible into 40,000 shares of common stock) and a Warrant to purchase 20,000 shares of common stock at an exercise price of $0.3125 per share.

 

On January 28, 2014, Mr. Jeffrey Peterson, invested $17,250 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 69 shares of convertible Preferred Stock (convertible into 69,000 shares of common stock) and a Warrant to purchase 34,500 shares of common stock at an exercise price of $0.3125 per share.

 

On January 28, 2014, Mr. Vito Mangiardi, invested $22,500 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 90 shares of convertible Preferred Stock (convertible into 90,000 shares of common stock) and a Warrant to purchase 45,000 shares of common stock at an exercise price of $0.3125 per share.

 

On January 28, 2014, Mr. Kevin Pollack, invested $22,500 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 90 shares of convertible Preferred Stock (convertible into 90,000 shares of common stock) and a Warrant to purchase 45,000 shares of common stock at an exercise price of $0.3125 per share.

 

On January 28, 2014, Dr. Mickey Urdea, invested $22,500 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 90 shares of convertible Preferred Stock (convertible into 90,000 shares of common stock) and a Warrant to purchase 45,000 shares of common stock at an exercise price of $0.3125 per share.

 

On November 12, 2014, Mr. Schumacher invested $5,000 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 20 shares of convertible Preferred Stock (convertible into 20,000 shares of common stock) and a Warrant to purchase 10,000 shares of common stock at an exercise price of $0.3125 per share.

 

On November 12, 2014, Mr. Jeffrey Peterson, invested $13,000 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for  shares of convertible Preferred Stock (convertible into 69,000 shares of common stock) and a Warrant to purchase 34,500 shares of common stock at an exercise price of $0.3125 per share.

 

On November 12, 2014, Mr. Vito Mangiardi, invested $5,000 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 20 shares of convertible Preferred Stock (convertible into 20,000 shares of common stock) and a Warrant to purchase 10,000 shares of common stock at an exercise price of $0.3125 per share.

 

On November 12, 2014, Mr. Kevin Pollack, invested $5.000 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 20 shares of convertible Preferred Stock (convertible into 20,000 shares of common stock) and a Warrant to purchase 10,000 shares of common stock at an exercise price of $0.3125 per share.

 

On November 12, 2014, Dr. Mickey Urdea, invested $5,000 in our Series K Offering of convertible preferred stock and warrants to purchase shares of common stock, for 20 shares of convertible Preferred Stock (convertible into 20,000 shares of common stock) and a Warrant to purchase 10,000 shares of common stock at an exercise price of $0.3125 per share.

 

On December 23, 2014, Mr. Schumacher participated in a warrant reset agreement in order to re-price his Common Stock Purchase Warrants. Mr. Schumacher exercised 34,350 warrants for a total of $8,587 and received 34,350 shares of common stock and 34,350 new warrants at an exercise price of $0.40 per common share.

 

On December 23, 2014, Mr. Peterson participated in a warrant reset agreement in order to re-price his Common Stock Purchase Warrants. Mr. Peterson exercised 23,000 warrants for a total of $5,750 and received 23,000 shares of common stock and 23,000 new warrants at an exercise price of $0.40 per common share.

 

On December 23, 2014, Mr. Mangiardi participated in a warrant reset agreement in order to re-price his Common Stock Purchase Warrants. Mr. Mangiardi exercised 20,000 warrants for a total of $5,000 and received 20,000 shares of common stock and 20,000 new warrants at an exercise price of $0.40 per common share.

 

On December 23, 2014, Mr. Pollack participated in a warrant reset agreement in order to re-price his Common Stock Purchase Warrants. Mr. Pollack exercised 40,000 warrants for a total of $10,000 and received 40,000 shares of common stock and 40,000 new warrants at an exercise price of $0.40 per common share.

 

On December 23, 2014, Mr. Urdea participated in a warrant reset agreement in order to re-price his Common Stock Purchase Warrants. Mr. Urdea exercised 57,000 warrants for a total of $14,250 and received 57,000 shares of common stock and 57,000 new warrants at an exercise price of $0.40 per common share.