Cardiff Lexington Corp - 10-K filing on 2014-01-21

9. CAPITAL STOCK	12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	On March 28, 2012, a motion to amend the Corporation’s Articles of Incorporation with the State of Colorado to increase the authorized shares of common stock from 60,000,000 to 250,000,000 was brought before the Board and adopted. The board passed the resolution on June 4, 2012 and called a special meeting to be held on July 18, 2012, the agenda of which was to invite all shareholders of record to vote on the proposed amendment. On July 18, 2012 the amendment was passed. During the year ended December 31, 2012, the Company granted 1,250,000 shares of its common stock valued at $25,000 to a note holder as additional consideration for the issuance of a note. The value of the shares has been reflected by the Company as a valuation discount upon issuance of the note. The Company has yet to issue the shares as of December 31, 2012 but has reflected these shares as outstanding in the accompanying statement of shareholders’ deficiency. During the year ended December 31, 2012, the Company issued 2,902,273 shares of common stock to consultants for services rendered that were valued at $139,272. During the year ended December 31, 2012, the Company issued 46,958,514 shares of common stock to officers for the conversion of accrued salaries valued at $724,378. Stock Options Stock based compensation expense related to an employee for the year ended December 31, 2012 and 2011. The Company has issued options to purchase shares of common stock. As of December 31, 2012, the Company has 2,500,000 options outstanding with an exercise price of $0.10 per share. There was no activity in relation to the Company’s Stock Options for the three and year ended December 31, 2012. Warrants The Company also issued warrants to purchase shares of common stock. As of December 31, 2012, the Company has 28,266,613 warrants outstanding with exercise prices ranging from $0.01 per share to $1.75 per share. These warrants expire through November 2015. During the year ended December 31, 2012, the Company issued an additional 1,594,167 warrants in connection with the common stock cash subscriptions and 5,469,166 warrants expired or were surrendered.

9. CAPITAL STOCK

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

On March 28, 2012, a motion to amend the Corporation’s Articles of Incorporation with the State of Colorado to increase the authorized shares of common stock from 60,000,000 to 250,000,000 was brought before the Board and adopted. The board passed the resolution on June 4, 2012 and called a special meeting to be held on July 18, 2012, the agenda of which was to invite all shareholders of record to vote on the proposed amendment. On July 18, 2012 the amendment was passed.

During the year ended December 31, 2012, the Company granted 1,250,000 shares of its common stock valued at $25,000 to a note holder as additional consideration for the issuance of a note. The value of the shares has been reflected by the Company as a valuation discount upon issuance of the note. The Company has yet to issue the shares as of December 31, 2012 but has reflected these shares as outstanding in the accompanying statement of shareholders’ deficiency.

During the year ended December 31, 2012, the Company issued 2,902,273 shares of common stock to consultants for services rendered that were valued at $139,272.

During the year ended December 31, 2012, the Company issued 46,958,514 shares of common stock to officers for the conversion of accrued salaries valued at $724,378.

Stock Options

Stock based compensation expense related to an employee for the year ended December 31, 2012 and 2011. The Company has issued options to purchase shares of common stock. As of December 31, 2012, the Company has 2,500,000 options outstanding with an exercise price of $0.10 per share.

There was no activity in relation to the Company’s Stock Options for the three and year ended December 31, 2012.

Warrants

The Company also issued warrants to purchase shares of common stock. As of December 31, 2012, the Company has 28,266,613 warrants outstanding with exercise prices ranging from $0.01 per share to $1.75 per share. These warrants expire through November 2015.

During the year ended December 31, 2012, the Company issued an additional 1,594,167 warrants in connection with the common stock cash subscriptions and 5,469,166 warrants expired or were surrendered.