July, 2010, the Company entered into an assignment agreement with its Director, whereby the Companys Director assigned
to the Company all title, right, and interest in and to the Lighted Ratcheting Wrench invention in exchange for 30,000,000 shares
of the Companys common stock, par value $0.001 (see Note 3).
neither the common stock issued by the Company, nor the inventions assigned by its Director, are objectively measureable, the
Company has offset the $30,000 in par value by a corresponding amount recorded in additional paid in capital, resulting in a net
transaction value of $0.
incurred to develop further the concept of the assigned inventions and filing for the patent protection of those inventions will
be capitalized as intangible assets. During the year ended June 30, 2012, the Company elected to suspend its pursuit of the patent
protection of the Lighted Ratcheting Wrench. Accordingly, previously capitalized patent costs, totaling $6,485 have been written
off and recorded in sales, general and administrative expense, totaling $71,272 for the year ended June 30, 2012.