Note 11 - Subsequent Events

Subsequent to February 28, 2013, the Company raised an additional $300,000 in cash through the issuance of convertible notes payable to two individuals, together with warrants to purchase 358,334 shares of common stock, on terms and conditions generally comparable to previously issued convertible notes and warrants.

Subsequent to February 28, 2013, the Company raised an additional $500,000 in cash through the issuance of a one-year promissory note to a director of the Company. The principal of the note is due in cash in a single payment at maturity and bears simple interest at the rate of 15% per annum. The interest is payable in the form of common stock of the Company at a rate of $0.50 per share and is payable semiannually in arrears. The note has no other conversion features and does not include warrants.