Annual report pursuant to section 13 and 15(d)

8. PREFERRED STOCK (Tables)

v2.4.0.8
8. PREFERRED STOCK (Tables)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Company’s agreements with the holders of its Series B Preferred Stock:

Agreement Date   Amount of Dividends Paid     Shares of Common Stock Issued     Extended Forbearance Date
                 
August 12, 2012   $ 732,000       157,000     January 1, 2014
December 26, 2012   $ 732,000       144,500     June 30, 2014
March 27, 2013   $ 732,000       139,000     September 30, 2014
July 26, 2013   $ 731,000       175,000     December 31, 2014
September 17, 2013   $ 731,000       197,000     March 31, 2015
Total   $ 3,658,000       812,500      
                     
Accrued and unpaid dividends   $ 3,657,000