|
NOTE 5. EQUITY
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| 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
March 2013, Michael Smith transferred 1,600,000 shares
of the Company’s common stock, to the Company for
consideration of $100. These shares were returned to
treasury and cancelled. In addition, in March 2013,
John Barton, a former officer and director of the
Company, and a number of other shareholders transferred
an aggregate of 2,031,707 shares of the Company’s
common stock to the Company for aggregate consideration
of $800. All such shares were returned to treasury and
cancelled.
In
March 2013, an additional 45,000 outstanding shares of
common stock were cancelled, including 20,000 of treasury
stock.
|
| 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
|