NOTE 8 - STOCK TRANSACTIONS
Transactions, other than employees stock issuance, are in accordance with ASC No. 505. Thus issuances shall be accounted for based on the fair value of the consideration received. Transactions with employees stock issuance are in accordance with ASC No. 718. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, or whichever is more readily determinable.
On September 28, 2006 the Company issued a total of 2,500,000 shares of common stock to one director for cash at $0.002 per share for a total of $5,000.
On May 30, 2007 the Company issued a total of 3,500,000 shares of common stock to one director for cash at $0.002 per share for a total of $7,000.
On June 16, 2008, management completed its SB-2 registered offering by selling 4,000,000 common shares at $.01 per share to raise capital of $40,000.
As of August 31, 2012 the Company had 10,000,000 shares of common stock issued and outstanding.
NOTE 9 - STOCKHOLDERS EQUITY
The stockholders equity section of the Company contains the following class of capital stock as of August 31, 2012:
Common stock, $ 0.001 par value: 75,000,000 shares authorized; 10,000,000 shares issued and outstanding.