NOTE 6 - STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2012

Equity [Abstract]

NOTE 6 - STOCKHOLDERS' EQUITY

NOTE 6 - STOCKHOLDERS’ EQUITY

The Company is authorized to issue an aggregate of 500,000,000 common shares with a par value of $0.0001 per share and 1,000,000 shares of preferred stock with a par value of $0.001 per share.  No preferred shares have been issued.

On April 3, 2009, the Company issued 20,000,000 shares of its common stock to its founder and Chief Executive Officer at $0.0001 per share to reimburse $459 of incorporation costs and to pay $1,541 in exchange for services rendered to the Company. Total incorporation costs and services of $2,000 are recorded as general and administrative expenses in the statement of operations. The fair value of the shares was determined by management of the Company on the date of issue of the stock grant.  On April 3, 2009, the shares of the Company were not trading and there were no arm's length transactions in the Company shares with an independent party.  As such, a quoted market price or a recent transaction in the Company shares was not available to estimate fair value. On the date of issue of the stock grant, the Company was recently formed or in the process of being formed and possessed no assets. The fair value of the Company shares was estimated to be equal to the par value of $0.0001 per share of the Company's common stock.          

The tax years 2011, 2010 and 2009 remain open to examination by the major taxing jurisdictions in which the Company operates.  The Company expects no material changes to unrecognized tax positions within the next twelve months.

                                                                        On April 16, 2012, the Company issued 60,000,000 shares of common stock valued at $228,000 with $152,000 expensed during the three months ended June 30, 2012 and $76,000 included in prepaid expenses at June 30, 2012 for compensation for business development, consulting, design and technical services. The services are valued based on the closing price of $0.0038 per share for the shares of common stock exchanged for the services.

On June 21, 2012, the Company issued 30,000,000 shares of common stock valued at $54,000 as compensation for business development and consulting services. The services are valued based on the closing price of $0.0018 per share for the shares of common stock exchanged for the services.