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EXCEL - IDEA: XBRL DOCUMENT - Delaine CorpFinancial_Report.xls
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PROPRIETARY TECHNOLOGY ACQUISITION/CHANGE IN CONTROL
12 Months Ended
Jun. 30, 2012
Schedule of Investments [Abstract]  
Note 5 - PROPRIETARY TECHNOLOGY ACQUISITION/CHANGE IN CONTROL

In June, 2012, the Company entered into an agreement with an individual and acquired a sole and exclusive license in and to certain proprietary technology relating to online procurement of certain goods in exchange for the issuance of 5,456,960 shares of common stock, par value $0.001, and 400,000 shares of preferred stock, par value $0.001, to the Company’s president and sole director. The common shares have been valued at $0.06030 per share, whereas the preferred shares have been valued at $0.36182 per share. The proprietary technology has been recorded as an intangible asset totaling $353,194 as of June 30, 2012.

 

The proprietary technology consists of internet search algorithms tailored to searching, cross referencing, and pricing used auto parts. The search algorithms enable a vast and detailed online catalog of used auto parts, which surpasses what is currently available from any other source. Together with the pricing algorithms, the technology provides the display of product information, together with a price that is both competitive and offers a good profit margin for an online retail entity utilizing the technology. This pricing model is based on availability and wholesale cost of each particular part from a trusted network of automotive recyclers nationwide.