Quarterly report pursuant to Section 13 or 15(d)

CAPITAL STOCK

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CAPITAL STOCK
9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
Note 12. CAPITAL STOCK

Preferred Stock

 

We have authorized 25 million shares of preferred stock with $0.001 par value, of which there were 100 shares of Series A Preferred Stock outstanding as of September 30, 2015. Series A Preferred Stock is convertible on a one-for-one basis into common stock and has all of the voting rights of our common stock.

 

There were 16,300,000 shares of Series B Preferred Stock outstanding as of September 30, 2015. Each share of Series B Preferred Stock: (i) has voting rights equal to 100 shares of common stock, and (ii) is convertible, at the option of the holder, on a 1-for-5.384325537 basis, into shares of our common stock.

 

Common Stock

 

We have authorized 350 million shares of common stock, $0.001 par value per share. As of September 30, 2015, 269,637,561 shares of common stock were issued and outstanding.