3 PREPAID EXPENSES
Company has entered into various agreements with consultants whereby the Company issues common stock in exchange for consulting
services. The Company values the common stock and the consulting services based on the closing price of its common stock on the
date of the agreement or the negotiated value of the consulting services. The Company recognized $168,875 and $0 of professional
fee expense in relation to these agreements for the three months ended March 31, 2012 and 2011, respectively. Prepaid expenses
relating to these agreements were $177,187 and $101,563 as of March 31, 2012 and December 31, 2011, respectively.