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CAPITAL STOCK
12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
CAPITAL STOCK

 

NOTE 4 – CAPITAL STOCK

 

Common Stock

 

As of December 31, 2013 and 2012, the Company was authorized to issue 850,000,000 shares of $0.0001 par value common stock.  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.

 

Series A Convertible Preferred Stock

 

The Company is authorized to sell or issue 50,000,000 shares of preferred stock.

 

During the period ended December 31, 2011, the Company issued seven shares of its preferred stock. The Company and the preferred shareholders have agreed to amend the preferred shareholder agreements so that each share of preferred stock has the right to convert into 214,286 shares of the Company’s common stock and receive a 1% share of any artifacts found at the Church Hollow Site. As of December 31, 2013, no shares of preferred stock had been converted into shares of the Company’s common stock.

 

Warrants and Options

 

As of December 31, 2013, a convertible note holder had a warrant to purchase 4,000,000 shares of its common stock with an exercise price of $.005 per share for a period of ten years beginning on November 20, 2012.