Stockholders' Deficit

3 Months Ended

Jun. 30, 2012

Stockholders' Deficit:

Stockholders' Deficit

5.         Stockholders’ Deficit

a)            Authorized:

500,000,000 Common shares with no par value

10,000,000 Preferred shares with no par value

During the three months ended June 30, 2012, the Company effected the following stock transactions:

On November 8, 2011, the Company issued 37,500 shares of common stock for Director compensation for a value of $21,000.  The share price is valued at the adjusted closing price on the date of vesting of the shares which was $0.56 per share.  The compensation agreement calls for a total of 150,000 shares to be issued during a 12 month period. These shares were recorded as subscription payable as of March 31, 2012.

On February 9, 2012, the Company issued 250,000 shares of common stock for director compensation for a value of $117,500.  The share price is valued at the adjusted closing price on the date of vesting of the shares which was $0.4 per share.  The compensation agreement calls for a total of 1,000,000 shares to be issued during a 12 month period. These shares were recorded as subscription payable as of March 31, 2012.

On February 15, 2012, the Company issued 37,500 shares of common stock for director compensation for a value of $22,875.  The share price is valued at the adjusted closing price on the date of vesting of the shares which was $0.61 per share.  The compensation agreement calls for a total of 150,000 shares to be issued during a 12 month period. These shares were recorded as subscription payable as of March 31, 2012.

On March 8, 2012, the Company issued 37,500 shares of common stock for director compensation for a value of $17,250.  The share price is valued at the adjusted closing price on the date of vesting of the shares which was $0.46 per share.  The compensation agreement calls for a total of 150,000 shares to be issued during a 12 month period. These shares were recorded as subscription payable as of March 31, 2012.

During the year ended March 31, 2012, Company had authorized the issuance of 362,500 shares for a total value of $178,625 as disclosed above. However the Company had not issued the stock, hence the said stock was reclassified as stock payable under the Statement of stockholders’ equity.

On May 30, 2012 Company issued 362,500 shares recorded as stock payable during March 31, 2012 period, which was authorized for director compensation.