Basically from what I see to many people have see that they've never made a nickle other than their printing press of shares.
CALCULATION OF REGISTRATION FEE
Amount of shares Proposed maximum Proposed maximum Amount of
Title of each class of to be offering price aggregate Registration
securities to be registered Registered per share (4) offering price Fee
Common Stock, par value $0.001 per share, issuable pursuant to Purchase Agreement 30,303,031 (1) $ 0.165 $ 5,000,000.11 $ 682.00
Common Stock, par value $0.001 per share, issued in connection with Purchase Agreement 595,239 (2) 0.165 $ 98,214.44 $ 13.40
Common Stock, par value $0.001 per share, Underlying Debentures 13,211,144 (3) $ 0.165 $ 2,179,838.76 $ 297.33
Totals 44,109,414 $ 7,278,053.31 $ 992.73
(1) Represents the number of shares of common stock of the Registrant that we will put (“Put Shares”) to Hanover Holdings I, LLC, a New York limited liability company (“Hanover Holdings”), pursuant to a Common Stock Purchase Agreement (the “Purchase Agreement”) by and between Hanover Holdings and the Registrant, effective on May 7, 2013. In the event that adjustment provisions of the Purchase Agreement require the Company to issue more shares than are being registered in this registration statement, for reasons other than those stated in Rule 416 of the Securities Act, the Company will file a new registration statement to register those additional shares.
(2) In addition to the Put Shares, we are registering 595,239 shares of common stock we issued to Hanover Holdings as initial commitment shares for entering into the Purchase Agreement.
(3) In addition to the Put Shares and 595,239 shares referenced in note 2, we are registering 13,211,144 shares of common stock underlying 6% Senior Secured Convertible Debentures with an aggregate principal amount of $1,2575,000 issued to fou
Sentiment: Strong Sell