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Capital Stock
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12 Months Ended |
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Dec. 31, 2011
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| Notes to Financial Statements | |
| Capital Stock |
NOTE C – CAPITAL STOCK
Common Stock
The Company is authorized to issue up to 190,000,000 shares of common stock at $0.0001 par value per share ("Common Stock"). As of December 31, 2011 and as of the date of this filing, the Company has 7,000,000 shares of Common Stock issued and outstanding.
During January and February 2011, the Company issued an aggregate of 980,000 shares of its Common Stock for an aggregate purchase price of $29,400 or $0.03 per share.
During December 2010, the Company issued an aggregate of 1,020,000 shares of its Common Stock for an aggregate purchase price of $30,600 or $0.03 per share. Also during December 2010, the Company issued 5,000,000 shares to its founder, sole officer and director, H.J. Cole for services valued at $500.
Preferred Stock
The Company is authorized to issue up to 10,000,000 shares of $0.0001 par value Preferred Stock with designations, rights and preferences determined from time to time by the Board of Directors. Accordingly, the Board of Directors is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the holders of the Common Stock. In the event of issuance, the Preferred Stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company. If the Company issues shares of Preferred Stock and it is subsequently liquidated or dissolved, the preferred shareholders may have preferential rights to receive a liquidating distribution for their shares prior to any distribution to common shareholders.
Options/Warrants
As of December 31, 2011 and as of the date of this filing, there are no outstanding options or warrants for the purchase of the Company’s Common Stock.
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