Subsequent Events
|
3 Months Ended |
---|---|
Mar. 31, 2012
|
|
Subsequent Events | |
Subsequent Events |
Note 4: Subsequent Events
During April and May 2012 the Company issued 856,444 shares of common stock at a price of $4.25 per share and received gross proceeds of $3,639,887 cash.
On May 3, 2012, the Company entered into a Stock-For-Stock Exchange Agreement with Stanford and its stockholders to acquire all of the outstanding shares of Stanford in exchange for 3,440,000 shares of the Companys common stock. In addition the Company agreed to assume and adopt Stanford's equity compensation plan and its outstanding options, which would represent the right to purchase up to 1,125,000 shares of the Companys common stock. |