COMMON STOCK

3 Months Ended

Mar. 31, 2012

8 – COMMON STOCK

	Number of Common Shares
	March 31,		December 31,
	2012		2011
Authorized – 675,000,000 Voting Shares ($0.001 par value)
Number of shares issued and outstanding		203,438,640		195,490,599
Number of shares sold not yet issued (a)		—		285,697
Number of shares to be issued for compensation (a)		—		7,629,688
		203,438,640		203,405,984

(a) The issuance of these common shares were approved by the Board of Directors; however, the shares are not considered to be “issued and outstanding” until they have been formally issued by our transfer agent. These shares are detailed below under the caption “Common Shares to be issued for 2011. These shares were issued on May 1, 2012 (note 12).

Common Shares Issued During 2011

On January 4, 2011, the Company satisfied a $5,036 accounts payable balance by issuing 18,518 shares of common stock to a utility company at $0.27 per share.

During February 2011, the Company raised $8,021 through the sale of 29,366 shares of common stock for cash to three investors, at stock prices between $0.25 and $0.32 per share, less commissions of $1,203.

During March and April 2011, the Company raised $107,486 through the sale of 209,288 flow-through common shares to eight investors at stock prices ranging between $0.51 and $0.52 per share, depending on the current exchange rate at the time of the transaction, less commissions of $16,122. The Company has recorded a corresponding tax benefit of $28,484.

Common Shares to be Issued for 2011

The following share transactions were approved by the Board of Directors, but were not formally issued by our transfer agent until May 1, 2012 (note 12).

Effective May 2011, the Company approved the issuance of 1,000,000 common shares as compensation to an officer in accordance with a compensation agreement. The individual was granted 500,000 shares immediately. The remaining balance of 500,000 shares was issued in November 2011. The Company has recorded total stock compensation expense related to the grant of $450,000 reflecting a share value of $0.45 per share.

Effective May 2011, the Company approved the issuance of 750,000 common shares as compensation to an officer. The Company has recorded stock compensation expense of $300,000 reflecting a share value of $0.40 per share.

On May 31, 2011 the Company satisfied a $29,841 accounts payable balance by issuing 64,785 shares of common stock to a utility company, based on a stock price of $0.46 per share.

During May to September 2011, Company raised $23,257 through the sale of 48,840 flow-through common shares to three investors at stock prices ranging between $0.48 to $0.51 per share, depending on the current exchange rate at the time of the transaction, less commissions of $1,974. The Company has recorded a corresponding tax benefit of $6,163.

In July 2011, the Company raised $1,000 through the sale of 5,111 common shares for cash at $0.20 per share less commission of $150.

In September 2011, the Company raised $5,031 through the sale of 15,614 common shares for cash at $0.35 per share including 1,420 shares for commission.

In September 2011, the Company raised $5,000 through the sale of 11,628 common shares for cash at $0.43 per share, less commission of $797.

In October 2011, the Company raised $5,001 through the sale of 15,625 common shares for cash at $0.32 per share, less commission of $750.

Effective October 2011, the Company approved the issuance of 5,300,000 common shares as compensation for services to 9 individuals. The Company has recorded stock compensation expense of $2,399,000 reflecting share values of $0.39, $0.50 and $0.51 per share

Effective October 2011, the Company approved the issuance of 79,688 common shares as additional commissions to 10 individuals. The Company has recorded stock compensation expense of $40,641, reflecting share values of $0.51 per share.

During November and December 2011, the Company raised $15,104 through the sale of 84,703 common shares for cash at $0.16 to $0.19 per share, less commissions of $2,266.

During November and December 2011, the Company raised $10,689 through the sale of 39,391 common shares for cash at $0.27 to $0.28 per share, less commissions of $1,603.

Effective December 2011, the Company approved the issuance of 500,000 common shares as compensation to an officer of the Company. The Company has recorded stock compensation expense of $170,000 reflecting a share value of $0.34 per share.

Common Shares Issued During 2012

The following share transactions were approved by the Board of Directors, but were not formally issued by our transfer agent until May 1, 2012 (note 12).

In February 2012, the Company raised $1,006 through the sale of 3,211 common shares for cash at $0.31 per share, less commission of $151.

In March 2012, the Company raised $7,276 through the sale of 29,445 common shares for cash at $0.25 per share, less commissions of $1,091.

ecoTECH Energy Group Inc. 10-Q