Conversions of Preferred Derivatives during Fiscal 2013 and Fiscal 2012, are summarized as follows:
| Fiscal 2013 | Fiscal 2012 | |||||||
| Series B Derivatives | ||||||||
| Number of Derivative Shares Converted | 797 | 99 | ||||||
| Number of Common Shares issued pursuant to conversion | 5,310,387 | 660,001 | ||||||
| Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions) | 690,350 | $ | 72,600 | |||||
| Change in value of preferred share derivative liability recorded at time of conversion | 212,415 | $ | (39,600 | ) | ||||
| Par value of Common Shares issued | 5,310 | $ | 660 | |||||
| Additional paid in capital recorded as a result of the conversions | 685,040 | $ | 71,940 | |||||
| Series C Preferred Derivatives | ||||||||
| Number of Derivative Shares Converted | 1,291 | 2,752 | ||||||
| Number of Common Shares issued pursuant to conversion | 8,606,667 | 18,346,673 | ||||||
| Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions) | 1,204,600 | $ | 1,712,667 | |||||
| Change in value of preferred share derivative liability recorded at time of conversion | 414,280 | $ | (518,387 | ) | ||||
| Par value of Common Shares issued | 8,607 | $ | 18,347 | |||||
| Additional paid in capital recorded as a result of the conversions | 1,195,993 | $ | 1,694,321 | |||||
| Series D Preferred Derivatives | ||||||||
| Number of Derivative Shares Converted | — | 4,063 | ||||||
| Number of Common Shares issued pursuant to conversion | — | 58,042,862 | ||||||
| Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions) | — | $ | 9,473,715 | |||||
| Change in value of preferred share derivative liability recorded at time of conversion | — | $ | 4,946,372 | |||||
| Par value of Common Shares issued | — | $ | 58,043 | |||||
| Additional paid in capital recorded as a result of the conversions | — | $ | 9,415,672 | |||||
| Series E Preferred Derivatives | ||||||||
| Number of Derivative Shares Converted | 388 | 1,563 | ||||||
| Number of Common Shares issued pursuant to conversion | 15,946,502 | 63,443,670 | ||||||
| Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions) | 1,275,720 | $ | 5,905,197 | |||||
| Change in value of preferred share derivative liability recorded at time of conversion | — | $ | 1,166,521 | |||||
| Par value of Common Shares issued | 15,947 | $ | 63,444 | |||||
| Additional paid in capital recorded as a result of the conversions | 1,259,774 | $ | 5,841,754 | |||||
| Total Preferred Derivatives | ||||||||
| Number of Derivative Shares Converted | 2,475 | 8,477 | ||||||
| Number of Common Shares issued pursuant to conversion | 29,863,556 | 140,493,206 | ||||||
| Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions) | 3,170,671 | $ | 17,164,180 | |||||
| Change in value of preferred share derivative liability recorded at time of conversion | 626,696 | $ | 5,554,906 | |||||
| Par value of Common Shares issued | 29,864 | $ | 140,493 | |||||
| Additional paid in capital recorded as a result of the conversions | 3,140,807 | $ | 17,023,687 | |||||