XML 68 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 2012
Notes  
STOCKHOLDERS' EQUITY

NOTE 9 - STOCKHOLDERS’ EQUITY

 

The Company is authorized to issue up to 700,000,000 shares of its $0.00001 par value preferred stock and up to 700,000,000 shares of its $0.00001 par value common stock.

 

On December 18, 2012, we closed the Securities Exchange Agreement with Prince México.  Pursuant to the terms of the Agreement, we issued 12,600,000 shares of our unregistered common stock in exchange for 100% of Prince México’s issued and outstanding common stock and obtained cancellation of a total of 26,483,100 shares of common stock held by the Company’s sole officer and director.  As of December 31, 2012, the shares were neither issued, nor cancelled, due to an administrative delay in effecting both. This transaction was accounted for as a recapitalization of Prince Mexico and thus retroactively reflecting the equity of Prince Mexico the accounting acquirer.

 

As a result of the reverse merger, the shares that were outstanding prior to the reverse merger of 29,566,901 net of the canceled shares stated above, were recorded based on the net liabilities assumed of $23,776 from Eurasia Design, the accounting acquire.

 

On December 28, 2012, the Company filed a certificate of amendment with the State of Nevada to increase its authorized shares of stock, and correspondingly increasing the number of issued and outstanding shares on the basis of 7 for 1.  Resultantly, the Company’s authorized capital was increased in a ratio of 7 for 1 to 700,000,000 shares of common stock, having a $0.00001 par value per share and 700,000,000 shares of preferred stock, having a $0.00001 par value per share.  In connection with the increase in authorized capital, the Company correspondingly increased the number of issued and outstanding common stock on the basis of seven (7) “new” shares for each one (1) “old” share issued and outstanding.  The action is being treated as a 7:1 forward split and was undertaken pursuant to a unanimous written consent of the Board of Directors, without a meeting, notice or vote as provided in Nevada Revised Statutes 78.207.  The action became effective on January 22, 2013.  All references to share and per share information in the financial statements and related notes have been adjusted to reflect the stock split on a retroactive basis.

 

During the year ended December 31, 2012, there have been no other issuances of common stock.