NOTE E COMMON STOCK
On September 30, 2010, the Company converted $39,652 of expenses owe to Whitehall Montague Company LLC, a related party, into 4,250,000 shares of common stock at $.009 per share.
On November 23, 2010, the Shareholders approved an increase in the Authorized Capital from 75,000,000 to 750,000,000.
NOTE F RELATED PARTY TRANSACTIONS
The holder (Millenium Group, Inc.) of the $10,000 convertible note is owned by Jonathan Mork who is a son of Dempsey Mork, the owner of Orion Investment which holds more than 5% of the common shares from the Company.
The Director, President, Treasurer, and Secretary of the Company, Neville Pearson, who is also Chief Financial Officer of Whitehall Montague Company LLC, which held 4,250,000 shares of the Companys common stock for a brief period during the fourth quarter of 2010 before transferring these shares to the MCC Profit Sharing Plan on November 19, 2010.
NOTE G -SUPPLEMENTAL CASH FLOW INFORMATION
During the year ended December 31, 2010, the company issued common stock for professional and consulting services valued at $39,652.
NOTE H COMMITMENT AND CONTINGENCIES
The Company could become a party to various legal actions arising in the ordinary course of business. Matters that are probable of unfavorable outcomes to the Company and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, the Companys estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters.
As of the date of this report, there are no material pending legal proceedings to which the Company is a party or of which any of their property is the subject, nor are there any such proceedings known to be contemplated by governmental authorities.