6.COMMON STOCK
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3 Months Ended | ||
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Jun. 30, 2011
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Treasury Stock [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 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 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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