Stockholders' Deficit | NOTE 6 STOCKHOLDERS DEFICIT The Company was formed with one class of common stock, $0.0001 par value and is authorized to issue 100,000,000 common shares and one class of preferred stock, $0.0001 par value and is authorized to issue 10,000,000 preferred shares. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they chose to do so, elect all of the directors of the Company. During the year ended December 31, 2015, the Company completed the following transactions: ● On January 5, 2015, the Company issued 35,000 shares of its common stock at a price of $0.10 per share for $3,500 to individuals pursuant to its registration statement on Form S-1. Proceeds of $3,500 were received in advance, during the period ended December 31, 2014. ● On December 17, 2015, the Company issued 100,000 shares of its common stock at a price of $0.10 per share for the acquisition of its mineral property interest (Note 4). During the year ended December 31, 2015, the Company completed the following transactions: ● On February 27, 2014, the Company issued 21,000,000 shares of common stock to its founders, Jeffrey Cocks, Michael Levine and BCIM Management, LP. Jeffrey Cocks and Michael Levine are the Companys directors and Jeffrey Cocks is the Companys sole officer. The Company issued this stock to Mr. Cocks, Mr. Levine and BCIM Management, LP in exchange for $2,100 of services rendered to the Company in its formation at a price of $0.0001 per share. ● From October 30, 2014 to November 24, 2014, the Company issued 815,000 shares of its common stock at a price of $0.10 per share for $81,500 to individuals pursuant to its registration statement on Form S-1. Of the total proceeds, $73,000 was received during the period ended December 31, 2014, and the remaining $8,500 was received during the year ended December 31, 2015. As at December 31, 2015, there are 21,950,000 shares of common stock outstanding. |