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CAPITAL STOCK
12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
CAPITAL STOCK

CAPITAL STOCK

 

At inception on September 2, 2005, the Company was authorized to have outstanding 10,000 shares of common stock at $0.10 par value per share. On October 24, 2007, the Company amended its Articles of Incorporation to increase the maximum number of authorized common shares to 100,000,000 and changed the par value to $0.001 per share, which has been retro-actively restated to $0.001 in the accompanying financial statements.

 

Share transactions during the year ended December 31, 2010, resulted in an increase in shares outstanding of 2,333,750 shares as follows:

 

Shares issued for cash at $0.02 per share 267,500
Shares issued for cash at $0.04 per share 566,250
Shares issued for future services at $0.113 per share 1,500,000
  2,333,750

 

During the year ended December 31, 2011, shareholders of the Company agreed to forgive $33,201 of debt. The amount was recorded as contributed capital.

 

There were no shares of common stock issued during the year ended December 31, 2012.

 

As of December 31, 2012, there were 5,899,250 shares of common stock issued and outstanding.