6 - Common Stock

On November 14, 2011, the Board approved a private placement to sell up to 2,000,000 shares of the Company's common stock, no par value, at a price of $1.50 per share. During the three months ended February 29, 2012, 1,997,388 shares were sold for proceeds totaling approximately $2,996,000.

During the three months ended February 29, 2012, the Company issued 72,500 shares of common stock at $2.80 per share to consultants for services, and recognized $203,000 of stock-based compensation based on the fair market value of the Company's stock price at the commitment date for the services.