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Subsequent Event
12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Event

7. SUBSEQUENT EVENT

 

On January 30, 2014, the Company entered into an acquisition agreement with 2050 Motors, Inc. (“2050 Motors”) and certain shareholders of 2050 Motors (collectively the “2050 Motors Shareholders”) wherein the Company has agreed to acquire all of the outstanding shares of common stock of 2050 Motors. In exchange for the 2050 Motors shares, the Company will issue to the 2050 Motors Shareholders up to 24,993,665 shares of the Company’s common stock, post-split. As part of the Agreement, the Company will affect a 4 for 1 reverse stock split, increase the authorized common stock, change the name to 2050 Motors, Inc. and file certain reports with the Security and Exchange Commission. After the closing of the Share Exchange, 2050 Motors will become Company’s wholly-owned subsidiary, and the 2050 Motors Shareholders will own approximately 90% of Company’s common stock, on an as converted, fully diluted basis. The Closing of the Share Exchange is expected to occur in March 2014.