STOCKHOLDER'S EQUITY | 9 Months Ended |
Nov. 30, 2014 |
Stockholders Equity | |
Stockholder's Equity | NOTE 3—STOCKHOLDER EQUITY |
On April 25, 2014, the Company issued 40,000,000 shares of restricted common stock to Elad Enterprise Corp. and 500,000,000 shares of restricted common stock to ETN Services, LLC, both valued at $ .001 for a total of $40,500. |
On August 19, 2014 the Company issued 108,000 shares of restricted common stock to Nieves Rosillo for services rendered to the Company as Secretary. No monies were paid for the shares but the value of the shares is estimated at $12,960 at a price of $.12 per share of common stock. During the months of July and August 2014 the Company sold 1,252,840 shares of free trading common stock. The Company received a total of $15,034 from the sale of this common stock. |
On September 18, 2014, at a meeting of our company’s board of directors, and majority shareholders, a resolution was approved to effect the following: |
1.) That Salvador Rosillo, the Company’s President, CEO and Director, and Elad Properties Enterprise Corp. will cancel Thirty Five Million Shares (35,000,000) respectively, for a total of approximately Seventy Million Shares (70,000,000), and return these shares to the Company Treasury. |
Before this cancelation Salvador Rosillo owned and controlled Forty Million (40,000,000) common shares of restricted stock and Elad Properties Enterprise Corp. owned Forty Million (40,000,000) common shares of restricted stock. |
As a result of this Motion Salvador Rosillo and Elad Properties Enterprise Cop. each cancelled Thirty Five Million (35,000,000) common shares of restricted stock and now each beneficially own and control Five Million (5,000,000) common shares of restricted stock. As a result of this motion Seventy Million (70,000,000) shares of common restricted stock total has been canceled and returned to the Company Treasury. |
2.) A forward stock split at a ratio of Ten to One (10:1) for the shares owned by all current stockholders and the subsequent cancellation of all shares generated via this stock split for Salvador Rosillo, Elad Properties Enterprise Corp., Nieves Rosillo and ETN Services, LLC. The forward stock split and cancellation of shares was approved. |
(The ratio of 10:1 signifies that every one share will become 10 shares); all share and per share amounts have been restated from the first day of the first period presented. |
The total outstanding shares of the Company following both events is 11,860,840 shares of common stock. The shares held by non-affiliates excluding ETN Services LLC is now currently 1,252,840. Elad Properties Enterprise Corp and Salvador Rosillo hold 5,000,000 shares each. ETN Services, LLC holds 500,000 shares and Nieves Rosillo holds 108,000 shares. These shares all represent our common stock. |
For the nine month period ended November 30, 2014 the Company’s CEO and Director has made owner contributions to the Company in the amount of $27,892. |