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SUBSEQUENT EVENT
3 Months Ended
Mar. 31, 2012
SUBSEQUENT EVENT  
SUBSEQUENT EVENT

NOTE 6 - SUBSEQUENT EVENT

 

The asset  purchase  agreement  entered  into by the  company  and PFN  Holdings

specifies  that the company will acquire a number of assets related to providing

psychic consultation  services under the trade name "Psychic Friends Network" in

exchange  for  50,600,000  shares of common  stock,  following  a 10 for 1 split

currently  issued  common  stock.  In  conjunction  with this  acquisition,  the

company's  sole  director  and  officer  Ya Tang  Chao  will  cancel  50,000,000

post-split shares of its common stock. The cancelation and reissuance  described

in this agreement and as discussed in Note 3, were issued in April of 2012.

 

On March 31, 2012 the  company  entered  into a  contractor  agreement  with ACP

Capital  Inc.  ("ACP")  whereas  the  company  desired  to retain ACP to provide

consulting  services  related to raising  capital.  The  agreement  shall become

effective  March  31,  2012 and shall  continue  until  March 31,  2014 or until

earlier terminated pursuant to the agreement.  In accordance with the agreement,

the company is required to issue to ACP 25,000  shares per quarter,  for a total

of 100,000 shares  annually in  consideration  of the contractor  services.  The

first payment of shares will be issued during the quarter ending June 30, 2012.

 

On April  15,  2012 the  company  entered  into an  investor  relations  service

agreement  with Circadian  Group  ("circadian")  whereas the company  desired to

retain circadian for a twelve (12) month period for services related to investor

relations.  In accordance  with the  agreement,  the company is required to make

cash  payments of $1,500 a month for three (3) months  beginning  on April 15th,

2012 and nine (9)  payments of $2,000  beginning  on July 15th,  2012 and ending

March 15th, 2013. The company is also required to issue 75,000 restricted common

shares of stock to circadian in accordance with the agreement.