Equity

3 Months Ended

Jun. 30, 2012

Equity

Stockholders' Equity Note Disclosure

Note 3 STOCKHOLDER’S EQUITY:

Preferred Stock

As of June 29, 2012, all of the Company’s previously issued 1,781,000 of Preferred shares have been converted into 17,810,000 as authorized by the Company’s Board of Directors. The shares were previously convertible into 17,810,000 common shares as the Company’s Board of Directors authorized the conversion price previously upon date of original issuance.

Previous to June 28, 2012, the Company’s subsidiary, ISA Acceptance Corporation had issued to a related party 22,400 shares of $25 par value 12% dividend non-convertible preferred shares, payable when declared. On June 28, 2012, the Company and its subsidiary converted the Preferred Stock of 22,400 shares into a 6% Note Payable on the books of the subsidiary in the amount of $560,000. This note has been included in the Stock Purchase Agreement that was completed on June 29, 2012 and is included in the assumption of liabilities by

the purchaser. This note and an additional $149,680 in various liabilities were assumed by the purchaser – related party - as a part of the Stock Purchase Agreement. See note 5 - discontinued operations for a complete explanation of the Stock Purchase Agreement an a complete itemization of the assets sold and liabilities assumed within the transaction. 

Common Stock

As of June 30, 2012, an additional 7,065,300 of common shares were issued as a part of the Stock Purchase Agreement to the wholly owned subsidiary, ISA Acceptance Corporation, consummated with the purchaser – related party as consideration for the payment of Intercompany loans and advances totaling $512,234 due to the subsidiary by the Parent Company at June 28, 2012.

There was an additional 17,810,000 of common shares issued to a related party management Company due for the conversion of previously issued Preferred Stock shares of 1,781,000 prior to September 30, 2011. See reference to note 3 above for a further explanation of the issuance.

As a result of these new issues of common shares, there are 48,874,912 in common stock shares outstanding at June 30, 2012.

Stock Options 

As of June 30, 2012, there are no stock options currently outstanding.