Note 7 - Capital Stock

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Note 7 - Capital Stock

Note 7 -   CAPITAL STOCK

The Articles of Incorporation authorize the Company to issue 5,000,000 shares of preferred stock with a par value of $0.0001, and 100,000,000 shares of common stock with a par value of $0.0001.  No shares of preferred stock have been issued.  Upon formation of the Company, 3,000,000 shares of common stock were issued for $40,000.

The Company completed a public offering on March 14, 2008.  The Company issued 550,000 shares of common stock to 40 PRC citizen shareholders for $110,000.  The common stock issued and outstanding immediately after the offering was 3,550,000.

On December 31, 2012, the Company entered into debt conversion agreement with Mr. Wu, formerly the Company's sole officer and director, pursuant to which $200,000 of debt owed to Mr. Wu by the Company was contributed to additional paid-in capital of the Company.

On September 9, 2013, the Board of Directors approved the further contribution by Mr. Wu of outstanding loans to the Company in the amount of $22,460, which amount has been allocated to additional paid-in capital of the Company.

On December 6, 2013, 46,350 shares of common stock were cancelled and returned to treasury without consideration.

On December 27, 2013, pursuant to approval of the board of directors and the majority stock holder on November 28, 2013 and November 29, 2013 respectively, the Company filed a Certificate of Amendment to the Articles of Incorporation of the Company for the purpose of  clearly providing  the directors of the Company with the authority to issue both common and preferred stock without approval by the stockholders and to grant the authority of the directors of the Company to  issue such shares of common and/or preferred stock in one or more series, with such voting power, designation, preferences and rights or qualifications, limitations or restriction as they may determine by resolution of the Board of Directors.

As at December 31, 2013 the Company has a total of 3,503,650 shares issued and outstanding.

The Company issued a stock award of 1,000,000 shares of common stock of the Company to an officer and director of the Company pursuant to a consulting agreement (ref Note 6 – Related party transactions).  The shares issued have been valued at $1.25 per share, the fair market value of the shares on the grant date as share based compensation which totals $1,250,000. The 1,000,000 shares of common stock were not issued at December 31, 2013, and therefore are recorded as  “Liabilities to be settled with common stock” on the Company’s balance sheets.   On January 22, 2014, the Company issued the 1,000,000 shares to Mr. Leontaritis pursuant to the agreement.