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Note 5 - Stockholder's Deficit
6 Months Ended
Jun. 30, 2021
Notes  
Note 5 - Stockholder's Deficit

Note 5 – Stockholder’s Deficit

 

Preferred Stock

 

The authorized preferred capital of the Company is 50,000,000 preferred shares, par value $0.001, of which none are issued or outstanding.

 

Common Stock

 

The authorized capital of the Company is 200,000,000 common shares, par value $0.001, of which 12,481,724 are issued or outstanding.

 

On January 8, 2012, the Company entered into convertible promissory notes with Robert J. Nielson, a consultant and shareholder, and George Christodoulou, the Company’s President, in the amounts of $7,622 and $8,500, respectively (see Note 6).  The notes are convertible into shares of the Company stock, at the demand of the holders. The conversion rate is the total principal and accrued interest outstanding divided by the Company’s par value, $0.001. For the six months ended June 30, 2021, no shares were issued in satisfaction of payments.