Deferred offering costs consist principally of accounting
fees, legal fees and other fees incurred through the balance sheet date that are related to the proposed common stock offering.
Deferred offering costs related to the common stock offering were offset against the proceeds recorded as equity received from
our common stock offering. On June 21, 2012, deferred offering costs $48,691 were offset against additional paid in capital received
from the common stock offering of $18,000. The Company has paid $11,161 of the deferred offering costs in cash as of June 30,
2012 leaving a remaining balance of $37,530 to be paid.