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NOTE 14 – SHARE BASED PAYMENTS FOR SERVICES
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Jun. 30, 2011
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| NOTE 14 – SHARE BASED PAYMENTS FOR SERVICES |
NOTE 14 – SHARE BASED PAYMENTS FOR SERVICES
In May 2010, the Company issued 200,000 shares of restricted common stock to two directors. The stock will vest in May 2011. Shares were valued at the current market price of $.20 per share.
On May 1, 2010 the Company entered into an agreement to receive website design and development, internet marketing and search engine optimization for one year. The consultants received 100,000 shares of company common stock. Shares were valued at a current market price of $.20 per share.
On April 29, 2010 the Company entered into an agreement to receive assistance in the development of new data center management technologies. The consultants will also investigate a variety of associated topics regarding data center management. This agreement will run for one year. The consultants received 1,000,000 shares of company common stock. Shares were valued at a current market price of $.20 per share.
On April 15, 2010 the Company entered into an agreement to receive marketing strategies, digital media and social media strategies to expand the Company’s investor base and improve shareholder communication. The consultants received 400,000 shares of company common stock. Shares were valued at the then current market price of $.15 per share.
The following is a summary of the status of options outstanding as of June 30, 2011 and 2010 respectively:
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