1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Stock Options
|
10/03/2006 |
10/02/2011 |
Common Stock
|
30,000
|
$
0.04
(1)
|
D
|
Â
|
Stock Options
|
07/30/2007 |
07/29/2012 |
Common Stock
|
50,000
|
$
0.04
(1)
|
D
|
Â
|
Stock Options
|
01/31/2008 |
01/30/2013 |
Common Stock
|
100,000
|
$
0.04
(1)
|
D
|
Â
|
Stock Options
|
10/20/2008 |
10/19/2013 |
Common Stock
|
500,000
|
$
0.04
(1)
|
D
|
Â
|
Stock Options
|
12/07/2009 |
12/06/2014 |
Common Stock
|
500,000
|
$
0.08
(2)
|
D
|
Â
|
Stock Options
|
11/15/2010 |
11/14/2015 |
Common Stock
|
500,000
|
$
0.06
(2)
|
D
|
Â
|
Debt Conversion Rights
|
12/31/2010 |
12/31/2011 |
Common Stock
|
5,989,267
|
$
0.03
(3)
|
D
|
Â
|
Debt Conversion Rights (Warrant)
|
12/31/2010 |
12/31/2014(3)
|
Common Stock
|
2,994,633
|
$
0.05
(3)
|
D
|
Â
|
Debt Conversion Rights
|
12/31/2010 |
12/31/2011 |
Common Stock
|
1,667,150
|
$
0.04
(4)
|
D
|
Â
|
Debt Conversion Rights (Warrant)
|
12/31/2010 |
12/31/2014(4)
|
Common Stock
|
833,575
|
$
0.06
(4)
|
D
|
Â
|
Debt Conversion Rights
|
12/31/2010 |
12/31/2011 |
Common Stock
|
5,308,050
|
$
0.04
(5)
|
D
|
Â
|
Debt Conversion Rights (Warrant)
|
12/31/2010 |
12/31/2014(5)
|
Common Stock
|
2,654,025
|
$
0.06
(5)
|
D
|
Â
|
* |
If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** |
Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) |
On April 21, 2009 the Issuer's Board of Directors approved to reset the exercise price to $0.04. |
(2) |
Ms. McMorran was granted an option to purchase shares of common stock under the Issuer's Stock Option Plan dated July 17, 2006. |
(3) |
On December 31, 2010 the Issuer extended a Promissory Note due to Ms. McMorran totaling $179,677.66. Under the terms of the Promissory Note, Ms. McMorran has the right to convert all or any part of the principal sum of the loan into common stock of the Issuer as well as a warrant agreement to purchase one share for every two shares acquired. The expiration date on the warrant is 3 years from the date of conversion. |
(4) |
On December 31, 2010 the Issuer extended a Promissory Note due to Ms. McMorran totaling $66,686. Under the terms of the Promissory Note, Ms. McMorran has the right to convert all or any part of the principal sum of the loan into common stock of the Issuer as well as a warrant agreement to purchase one share for every two shares acquired. The expiration date on the warrant is 3 years from the date of conversion. |
(5) |
On December 31, 2010 the Issuer's Board of Directors approved a Debt Converstion Agreement which grants Ms. McMorran the right to convert gross salary debt owed to her totaling $212,322 into common stock of the Issuer as well as a warrant agreement to purchase one share for every two shares acquired. The expiration date on the warrant is 3 years from the date of conversion. |