Shareholders' Equity

6 Months Ended

Jun. 30, 2019

Note 7.

Shareholders’ Equity

On March 19, 2018, the Company sold in a private placement to LICT, 1,500,000 of its shares common stock for $180,000, or $0.12 per share. These funds are intended to be used to pay administrative costs for the next three years, until an acquisition candidate can be found and appropriate financing obtained. The funds from the sale were received on April 3, 2018.

At the Company’s Annual Meeting of Stockholders on May 8, 2014, its stockholders voted to amend the Company’s Certificate of Incorporation (the “Charter Amendment”) to increase the number of authorized shares of common stock, par value $0.01 per share, from 10,000,000 to 100,000,000. In order to economize costs until necessary, the Company has not yet filed the Charter Amendment with its state of incorporation, Delaware, to effectuate the authorization, but intends to file such Charter Amendment in connection with the proposed acquisition of G.Research, as further described in Note 2.