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Change of Management and Control
6 Months Ended
Jun. 30, 2011
Notes to Financial Statements  
NOTE 12 - Change of Management and Control

On November 29, 2010, Joseph Levi, the principal shareholder of the Company entered into a stock purchase agreement which provided for the sale of 60,000,000 shares of common stock of the Company (the "Purchased Shares") to Leonard Sternheim (the Purchaser). The consideration paid for the Purchased Shares, which represented at the time of the transaction 68.81% of the issued and outstanding shares of the Company was $7,500. The Purchaser used his personal funds to purchase the purchased shares.

 

On November 29, 2010, in connection with the acquisition of the purchased shares, Leonard Sternheim was appointed as a director, and as President, Chief Executive Officer and Chief Financial Officer of the Company, effective simultaneous with the sale of Mr. Levi's shares to Mr. Sternheim.

 

On November 29, 2010, in connection with the acquisition of the Purchased Shares, Joseph Levi resigned from his positions as officer and director of the Company.

 

On December 24, 2010 Mr. Sternheim sold 10,000,000 of the Purchased Shares to Zegal & Ross Capital LLC.

 

On March 17, 2011 Eleizer Oppenheimer resigned from his position as a director of the Company.

 

In March 2011 the Board of Directors elected Mark Holcombe and Mendel Mochkin as Members of the Board. The Board also elected Mr. Mochkin as Vice President of the Company.