Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
Security
issuances occurred during the nine months ended December 31, 2016.
Name
of Person or Group
Shares
Consideration
**Consultants
75,000
$ 6,250
**Legal
Consultants
-
-
*
Employees: Benefits
270,000
$ 18,532
24
*
Issued
as “restricted securities” under the 2009 Equity Incentive Plan; the shares issuable thereunder are “registered”
on Form S-8 of the SEC.
**
The
Company issued these securities to persons who were either “accredited investors” or “sophisticated investors”
as those terms are respectively defined in Rules 501 and 506(b) of the SEC; and each person had prior access to all material
information about us. We believe that the offer and sale of these securities was exempt from the registration requirements
of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) thereof
.
Item
3. Defaults Upon Senior Securities.
None;
not applicable.
Item
4. Mine Safety Disclosures.
None;
not applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.