Note 8 Stockholders Equity
Upon formation the
aggregate number of shares which the Corporation shall have authority to issue is fifty million (50,000,000) shares, all of which
are designated as Common Stock with a par value of $.001 per share.
On November 16, 2009, the
Company amended its Articles of Incorporation to: (a) authorize the creation of a class of 5,500,000
shares of blank check preferred stock; (b) increased the number of shares of the authorized capital stock to 400,000,000 shares
of which 394,500,000 shall be Common Stock, par value $0.001 per share and 5,500,000 shall be preferred stock, par value $0.001
Immediately prior to the
consummation of the Exchange Agreement giving retroactive effect of share cancellation in connection with the Exchange Agreement
on November 16, 2009, the Company had 3,100,770 common shares issued and outstanding.
The Company issued 28 million
shares of its common stock to Jianye BVI stockholders upon consummation of the Exchange Agreement on November 16, 2009.
Issuance of Common Stock
In April, 2010, 299,378
of the cancelled shares were restored and reported as issued and fully paid common stock.
In the second quarter of
2010 the Company issued 10,000 shares for financial consulting services, valued at $1.00 per share or $10,000 on the date of issuance.
On October 1, 2010, the
Company sold 100,000 shares of its common stock at $0.40 per share for $40,000 in cash.
December 14, 2010, the Company sold 1,000,000 shares of its common stock at $0.70 per share for $350,000 in cash and $350,000 in
stock subscription receivable, 200,000 shares of common stock at $0.50 per share for $100,000 in stock subscription receivable
and 600,000 shares of common stock at $0.15 per share for $60,000 in stock subscription receivable, all of the stock subscription
receivables were reported as an asset on the consolidated balance sheet at December 31, 2010
as the proceeds have been received in the first quarter of 2011 prior to the issuance of the financial statements.
In the third quarter of
2011 the Company issued 50,000 shares of its common stock for financial consulting services, valued at $0.28 per share or $14,000
on the date of issuance.
On December 14, 2010, the
Company entered into a stock subscription agreement with an investor whereby the Company agreed to sell 600,000 shares of its common
stock at $0.15 per share for $90,000. In the third quarter of 2011 the Company received the $90,000 proceeds and issued 600,000
shares of its common stock pursuant to the stock subscription agreement.