6. COMMON STOCK
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12 Months Ended | ||
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Mar. 31, 2012
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Stockholders' Equity Note Disclosure [Text Block] |
Effective
November 5, 2010, the Company effected an 8 for 1 forward
stock split, increasing the issued and outstanding shares of
common stock from 12,000,000 shares to 96,000,000 shares. All
shares and per share amounts have been revised to
retroactively reflect this stock split.
On
March 1, 2009, the Company sold 80,000,000 shares of common
stock to its then president and director at a price of
$0.000125 per share for cash proceeds of $10,000.
From
December 2009 to February 2010, the Company sold a total of
16,000,000 shares of common stock in its public offering at a
price of $0.00625 per share for total cash proceeds of
$100,000.
On
December 21, 2010 and December 22, 2010, the Company sold a
total of 1,000,000 restricted shares of common stock (700,000
shares to the daughter of the Company’s former chairman
and 300,000 shares to a foreign corporation affiliated with
the Brenner Family Holding Corp.) at a price of $0.50 per
share for cash proceeds of $500,000.
The
Company has no stock option plan and has not issued any
warrants or other potentially dilutive securities.
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