Preferred and Common Stock | 3 Months Ended |
Mar. 31, 2014 |
Notes | ' |
Preferred and Common Stock | ' |
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NOTE 5 - PREFERRED STOCK |
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On October 19, 2011, the Company filed Articles of Incorporation with the State of Utah so as to authorize 10,000,000 shares of preferred stock having a par value of $0.001 per share. No preferred shares are issued or outstanding at March 31, 2014. |
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NOTE 6 - COMMON STOCK |
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On October 19, 2011, the company filed Articles of Incorporation with the State of Utah so as to authorize 90,000,000 shares of common stock having a par value of $0.001 per share. Immediately after authorization, 13,000,000 shares of the common stock were issued, at par, to Company's founding members. This issuance also resulted in the recognition of $13,000 stock subscription receivable as of December 31, 2011. |
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On June 30, 2012, the $13,000 stock subscription was relieved, in full, in exchange for 2012 compensation paid to the Company's three founding members. |
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On January 19, 2012, the Company initiated a private placement through which it received gross proceeds of $87,563 for the issuance, on April 18, 2012, of 5,843,500 common shares valued at $0.015 per share. Stock issuance costs incurred in connection with this private placement totaled $3,006. |
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On April 18, 2012, the Company also issued 7,860,512 common shares valued at $0.015 per share for a total value of $117,908 to consultants and contractors for future services to be provided from the date of issuance through April 1, 2016. |
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On October 2, 2012, the Company received $1,500 for 100,000 common shares valued at $0.015 per share, issued November 15, 2012. |
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On September 2, 2013, the Company issued 3,000,000 common shares valued at $0.015 per share for a total value of $45,000 to a consultant, as compensation, for prior services. |
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On October 28, 2013, the Company issued 168,334 common shares valued at $0.30 per share for a total value of $50,500 in exchange for a $50,000 note payable and for $500 in accrued interest. |
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In November and December of 2013, the Company received $40,300 for a Stock Subscription Payable. In January and February of 2014, the Company received $38,400 for a Stock Subscription Payable. The Stock Subscription Payable was relieved in February 2014 by the issuance of 262,333 shares of common stock at a value of $0.30 per share. |
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On January 7, 2014, the Company issued 1,800,000 common shares valued at $0.30 per share for a total value of $ 540,000 to a consultant, as compensation, for current and future services to be provided from the date of issuance through January 7, 2015. |