UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS SECURITIES
−Removed: During the nine months ended March 31, 2013, the Company received cash of $177,500 for the subscription of 10,793,445 common shares and issued 1,000,000 common shares for cash received in the year ended June 30, 2012.
−Removed: During the nine months ended March 31, 2013, the Company also received cash of $47,500 for the subscription of 2,187,500 common shares.
−Removed: At March 31, 2013, these shares have not been issued and were recorded as stock payable.
−Removed: During the nine months ended March 31, 2013, the Company granted 21,000,000 shares of common stock for services of executives and a consultant.
−Removed: These shares were valued at $460,000 based on the trading price of the stock on the date granted.
−Removed: At March 31, 2013, these shares have not been issued and were recorded as stock payable.
−Removed: On November 27, 2012, Leroy Steury converted a note with unpaid principal and accrued interest of $79,696 to 7,500,000 common shares.
−Removed: On January 29, 2013, Bud Chapman and Fabio Piras were issued 300,000 common shares each, in aggregate of 600,000 shares valued at $11,700, for interest expense on a note.
−Removed: On February 19, 2013, David Janney surrendered 3,670,000 common shares of the 6,170,000 common shares he held in the Company.
−Removed: David Janney was allowed to retain 2,500,000 as part of a settlement with the Company.
+Added: On July 25, 2013 and August 30, 2013, the Company issued 12,695,369 and 22,802,437 common shares, respectively, to repay accrued interest and principal totaling $40,787 related to the note payable to Tonaquint.
The offer and sale of such shares of our common stock were effected in reliance on the exemptions for sales of securities not involving a public offering, as set forth in Rule 506 promulgated under the Securities Act of 1933 (the “Securities Act”) and in Section 4(2) of the Securities Act, based on the following:
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DEFAULTS UPON SENIOR SECURITIES
−Removed: There were no defaults upon senior securities during the period ended March 31, 2013.
+Added: There were no defaults upon senior securities during the period ended September 30, 2013.
MINE SAFETY DISCLOSURE
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.