Item 3.02. Unregistered Sales of Equity Securities.
From November 3, 2008 to November 4, 2008, the Registrant entered into
agreements with six stockholders to issue an aggregate of 5,051,000 shares of
its common stock in exchange for the return for cancellation of 505,100 of its
Series A Redeemable Convertible Preferred Stock (the "Exchange"). The shares of
Common Stock issued in the Exchange were issued pursuant to an exemption from
registration under the Securities Act of 1933 (the "Act") provided by Section
3(a)(a) promulgated under the Act.
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