ITEM 8.01 OTHER EVENTS.
On September 18, 2012, the Company issued 1,738,452 shares of common stock at
$0.81 per share pursuant to the subscription agreements reported in the
Company's Form 8-K filed on September 13, 2012. Net of the placement agent's
fees and expenses and other offering expenses, the Company obtained net proceeds
of approximately $1.2 million, which it plans to use for general corporate
purposes, including working capital. This issuance was made pursuant to the
Company's existing shelf registration statement (File No. 333-161700), which was
declared effective by the Securities and Exchange Commission on September 29,
2009.
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