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EX-31.2 - EXHIBIT 31.2 - Inca Global, Incincaex312_3312012.htm
EX-31.1 - EXHIBIT 31.1 - Inca Global, Incincaex311_3312012.htm
EXCEL - IDEA: XBRL DOCUMENT - Inca Global, IncFinancial_Report.xls
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EX-32.1 - EXHIBIT 32.1 - Inca Global, Incincaex3213312012.htm
10-K - ANNUAL REPORT - Inca Global, Incinca10k3312012.htm
v2.4.0.6
Stock and Stock Transactions
12 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Stock and Stock Transactions

Note 2. Stock and Stock Transactions

 

Preferred Stock

 

The Company has authorized 10,000,000 shares of preferred stock, with a par value of $0.0001 per share. The Company’s Board of Directors has the ability to determine the rights and preferences of any series of preferred stock issued. There are no shares of preferred stock currently issued or outstanding.

 

Common Stock

 

The Company has authorized 100,000,000 shares of common stock, with a par value of $0.0001 per share.

 

At inception (May 4, 2010), the Company issued 5,000,000 shares of common stock to Accelerated Venture Partners, LLC (“AVP”) for $2,000.

 

On March 7, 2011, AVP tendered 3,500,000 shares to the Company for cancellation. Also on March 7, the Company granted AVP an option to purchase 1,500,000 shares of common stock at par value in exchange for certain consulting services, and AVP immediately exercised this option. The Company has the option to repurchase the shares exercised under the option at par value if the below milestones are not met within a specified time:

  

· Milestone 1 –  Company’s right of repurchase will lapse with respect to 60% of the shares upon securing $5 million in available cash from funding;

 

· Milestone 2 – Company’s right of repurchase will lapse with respect to 40% of the Shares upon securing $10 million in available cash (inclusive of any amounts attributable to Milestone 1).

   

On March 7, 2011, the Company issued 22,350,000 shares of common stock to Daniel Correa at par value.

 

On March 28, 2011, the Company sold a total of 15,000 common shares at a price of $2.00 per share to one investor and raised $30,000 in this offering.

 

As of March 31, 2012, there were 25,362,500 shares issued and outstanding and 5,962,500 shares of common stock were reserved for issuance under the Company’s Stock Option Plan. There were 68,672,500 shares of common stock available for future issuance.