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DEFERRED OFFERING COSTS - ADDITIONAL PAID IN CAPITAL
6 Months Ended
Dec. 31, 2014
DEFERRED OFFERING COSTS - ADDITIONAL PAID IN CAPITAL  
DEFERRED OFFERING COSTS - ADDITIONAL PAID IN CAPITAL

NOTE 7 – DEFERRED OFFERING COSTS – ADDITIONAL PAID IN CAPITAL

 

Deferred offering costs consist principally of accounting, legal and other fees incurred through the close of our common stock offering (August 1, 2012) that were directly related to the offering. Deferred offering costs were offset against net proceeds received from our common stock offering. We recognized total adjustments to additional paid in capital of $45,101; comprised of deferred offering costs of $46,439 offset by debt forgiveness of $1,338.  

 

As of May 14, 2013 a change in control of the Company occurred with respect to its ownership. With a change in control certain liabilities of the Company were forgiven and/or paid for by our founder (a former officer and director), Ms. Jones.