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Note 9 Subsequent Events
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3 Months Ended |
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Jun. 30, 2012
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| Note 9 Subsequent Events: | |
| Note 9 Subsequent Events | NOTE 9 SUBSEQUENT EVENTS
On July 19, 2012, the Company filed an Information Statement on Form 14C with the SEC to implement a 10,000 for 1 reverse split and a merger with its wholly owned subsidiary, Oxysonix Corporation (the Merger). Oxysonix will be the surviving entity of the Merger. Each ten thousand (10,000) outstanding shares of Adarna common stock, $0.0001 par value per share, will be automatically converted into one (1) share of Oxysonix common stock, $0.0001 par value per share. All shares of Adarna preferred stock will also be converted into common stock on the effective date of the merger, resulting in a total of 4,971,774 shares of Oxysonix common stock issued and outstanding out of a total of 50,000,000 authorized common shares; and 20,000 shares of Series 1 Preferred Stock issued and outstanding out of a total of 10,000,000 authorized preferred shares. The Merger is expected to become effective on or about September 30, 2012, however, the effective date of the merger may be delayed based on the amount of time required to address any comments raised by the SEC in connection with completion of the merger. |