XML 30 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE 6 - STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 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 Company issued 1,000,000 shares of common stock to Nadav Elituv on May 14, 2010 in exchange for software development services related to interactive displays valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to The Cellular Connection, Ltd. on May 14, 2010 in exchange for business development services related to going public valued at $10,000. Stuart Turk, as the principal owner of The Cellular Connection, Ltd., has

voting and dispositive control over these shares.

 

The Company issued 1,000,000 shares of common stock to Bradley Southam on May 14, 2010 in exchange for graphic arts development services related to interactive displays valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Evan Schwartzberg on May 14, 2010 in exchange for accounting and bookkeeping services valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Brett W. Gold on May 14, 2010 in exchange for introducing us to potential customers valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Al Kau on May 14, 2010 in exchange for introducing us to potential customers valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Larry Burke on May 14, 2010 in exchange for design and technical services related to potential customer usage valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Aaron Shrira on May 14, 2010 in exchange for introducing us to potential customers valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Danielle Goose on May 14, 2010 in exchange for introducing us to potential customers valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to William Reil on May 14, 2010 in exchange for introducing us to potential customers valued at $10,000.

 

The Company issued 1,000,000 shares of common stock to Metro One Development, Inc. in trust on May 14, 2010 in exchange for technical knowledge on its interactive displays valued at $10,000.

 

On May 14, 2010, 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. As such, the Company determined the value of the consulting services on May 14, 2010 was a more reliable measure of fair value. The value of these services totaling $110,000 is recorded as general and administrative expenses in the statement of operations.

 

On April 15, 2011, the Company repaid $30,000 of advances due to a related

party by exchanging 30,000,000 shares of common stock with the Company's Chief

Executive Officer and majority shareholder.

 

On April 18, 2011, the Company issued a total of 5,000,000 shares of common

stock valued at $5,000 as compensation to a director and the Chief Financial

Officer.

 

On August 31, 2011, the Company filed a Form S-8 with the SEC registering

150,000,000 shares of the Company's common stock pursuant to the adoption of

a Stock Option Plan on August 30, 2011.

 

On October 26, 2011, the Company issued 30,000,000 shares of common stock valued at $3,000,000 as compensation for business development services. The services are valued based on the closing price of $0.10 per share for the shares of common stock exchanged for the services.

 

On October 26, 2011, the Company issued 6,000,000 shares of common stock valued at $600,000 as compensation for consulting services. The services are valued based on the closing price of $0.10 per share for the shares of common stock exchanged for the services.

 

On October 26, 2011, the Company issued 16,000,000 shares of common stock valued at $1,600,000 as compensation for design and technical services. The services are valued based on the closing price of $0.10 per share for the shares of common stock exchanged for the services.

 

On April 16, 2012, the Company issued 60,000,000 shares of common stock valued

at $143,000 expensed during the year ended December 31, 2012 as stock-based

compensation for business development, consulting, design and technical

services. The services are valued based on the closing price of the Company's

common stock on the date of the agreement exchanged for the services.

 

On June 21, 2012, the Company issued 30,000,000 shares of common stock valued at $54,000 as stock-based compensation for business development and consulting services.

The services are valued based on the closing price of the Company's

common stock on the date of the agreement exchanged for the services.

 

From October 10, 2012 to October 18, 2012, the Company issued 140,000,000 shares of common stock valued at $226,600 for settlement of $14,000 in notes payable. As a result, the Company recorded a loss on settlement of debt of $212,600.