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NOTE 4. EQUITY
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9 Months Ended |
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Sep. 30, 2012
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| Stockholders' Equity Note Disclosure [Text Block] |
NOTE
4. EQUITY
In
April 2012 the Company purchased 9,125,500 of the
Company’s common stock from an unrelated third party
for $9,126.
During April 2012 the Company issued 210,000 shares of its common stock to an officer and employee of the Company in exchange for services rendered at a price of $0.02 per share. During April, 2012 we sold 1,000,000 shares of our common stock to a group of private investors for $51,250.
In
April 2012 we sold 8,367,850 shares of our common stock to
our officers, directors and private investors for
$173,902.
Between
April 1, 2012 and August 31, 2012 we sold 5,781,798 shares of
our common stock, at a
price of 0.70 per share, to a group of private investors and
one of our directors. A director in the Company
purchased 250,000 of these shares.
As
a result of the foregoing, a change of control took place,
and the Company’s ability to use any net operating
losses for federal income tax purposes will be significantly
restricted.
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- Definition
The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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