COMPOSITION OF NET ASSETS (STOCKHOLDERS’ EQUITY)

3 Months Ended

Jun. 30, 2011

COMPOSITION OF NET ASSETS (STOCKHOLDERS' EQUITY)

COMPOSITION OF NET ASSETS (STOCKHOLDERS' EQUITY)

NOTE 4:                      COMPOSITION OF NET ASSETS (STOCKHOLDERS’ EQUITY)

Common Stock

The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001 with each share having one voting right.  There are 11,629,399 and 11,889,363 common shares outstanding at June 30, 2011 and December 31, 2010, respectively.

During the six months ended June 30, 2011, the Company sold 165,000 shares of its common stock for $165,000 in cash, issued 175,000 shares of its common stock for $175,000 due to its CEO, rescinded the acquisition of one investment valued at $65,000 for which 3,250,000 shares of its common stock had been issued, cancelled 600,000 of these shares and obtained stock subscriptions for the remaining 2,650,000 shares of common stock.

Effective August 31, 2010, the Company completed a 50:1 reverse stock split.  All share transactions disclosed in the financial statements have been restated to give effect to the change.