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Subsequent Events
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9 Months Ended |
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Sep. 30, 2012
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| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE I - SUBSEQUENT EVENTS
The Company entered into a Promissory Note for $30,000 on November 27, 2012. The Promissory Note accrues interest at 6% per annum on the unpaid balance from the date of execution. The note is payable in full together with interest on the unpaid principal on October 26, 2013. The Company is entitled to prepay principal without penalty.
On October 10, 2012, the board of directors and a majority of the shareholders approved an increase in the number of authorized common shares to 999,000,000 and a decrease in the par value of the Company’s common stock to $0.001 per share from $0.01 per share. The Company then circulated an information statement to shareholders in accordance with Section 14 of the Securities Exchange Act of 1934. On December 3, 2012, the Company filed a certificate of change with the State of Nevada to increase the authorized number of common shares to 500,000,000 and to decrease the par value of the common shares to $0.001 per share. The Company elected not to increase the number of authorized shares of common stock to the full amount previously authorized by the board and shareholders.
On December 3, 2012, the Company issued 70,000,000 shares of common stock to Darryl Reed. The market value of the shares will be applied to accrued wages due Mr. Reed, and the balance will be treated as compensation. |