| During the year ended December 31, 2004, we issued an aggregate of 19,215,321 shares of common stock in settlement of payroll and certain other ongoing costs, of which 12,118,601 shares were issued under a registration statement and are freely tradable. Unless and until we receive sufficient financing, we expect to continue to be forced to rely on issuances of common stock under similar arrangements in settlement of payroll and such other costs. Issuances of equity will dilute existing stockholder’s ownership and will have a depressive effect on our stock price, |
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