COMMON STOCK

12 Months Ended

Jun. 30, 2012

COMMON STOCK

COMMON STOCK

NOTE 5 – COMMON STOCK

At a shareholder meeting held October 29, 2010, shareholders authorized an increase in authorized capital from 200,000,000 to 300,000,000 common shares with a par value of $0.001. All shares have equal voting rights, are non-assessable and have one vote per share.  Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.

In addition, at the shareholder meeting on October 29, 2010, shareholders authorized a share consolidation of 20:1.  These financial statements have been restated retroactively to reflect this share consolidation.

During the fiscal 2011 year, the Company issued a total of 1,620,589 common shares in settlement of $162,059 debt outstanding at consideration of $0.10 per common share, increasing total common shares outstanding at June 30, 2011 to 6,503,276.

There were no stock options, warrants or other potentially dilutive securities outstanding as at June 30, 2012 and June 30, 2011.

The Company’s policy is to record stock at its fair market value on the date of issuance.