|
NOTE 5. EQUITY
|
12 Months Ended |
|---|---|
|
Dec. 31, 2012
|
|
| Stockholders' Equity Note Disclosure [Text Block] |
NOTE
5. EQUITY
Preferred Stock
– 1,000,000 shares authorized, none issued or
outstanding.
Common Stock
– In April 2012 the Company purchased 9,125,500
of the Company’s common stock from an unrelated third
party for $9,126.
In
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 fair value of $0.02 per
share.
In April, 2012 the
Company sold 1,000,000 shares of our common stock to a group
of private investors for $51,250.
In
April 2012 the Company 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 the Company 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.
From
July through September 2012 the Company also issued 105,000
shares of our common stock in exchange for consulting
services at a fair value of $0.70 per share.
As
a result of the foregoing, a change of control took place,
and the Company’s ability to use any net operating
losses attributable to Art Design, Inc. for federal income
tax purposes has been forfeited.
Treasury Stock
– In October 2012 the Company purchased 20,000
shares from an unrelated party for $5,000.
Following
the above issuances of common stock, the Company has
17,159,748 shares issued and outstanding as of December 31,
2012.
|
| X | ||||||||||
|
- 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
|