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EX-31.1 - CERTIFICATION - BROADCAST LIVE DIGITAL CORP.bfld_ex31.htm
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v2.4.0.6
Stockholders' Deficit
12 Months Ended
Aug. 31, 2012
Notes  
Stockholders' Deficit

Note 4 - Stockholders’ Deficit

 

Shares Authorized

 

Upon formation the total number of shares of all classes of stock which the Company is authorized to issue is Five Hundred Ten Million (510,000,000) shares of which Ten Million (10,000,000) shares shall be Preferred Stock, par value $0.0001 per share, and Five Hundred Million (500,000,000) shares shall be Common Stock, par value $0.0001 per share.

 

On September 17, 2012, effective October 2, 2012, the Company filed a Certificate of Amendment of Certificate of Incorporation and effectuate a forward split of all issued and outstanding shares of common stock, at a ratio of five hundred and sixty-for-one (560:1) (the "Stock Split").

 

On September 26, 2012, effective November 15, 2012, the Company filed a Certificate of Amendment of Certificate of Incorporation and changed its total number of common shares which the Company is authorized to issue from Two Hundred and Eighty Billion (280,000,000,000) shares, par value $0.0001 per share, to Nine Hundred Million (900,000,000) shares, par value $0.0001 per share.

 

Common Stock

 

On April 27, 2010, the Company issued 840,000,000 common shares to its Chief Executive Officer valued at $150 for compensation upon formation of the Company.

 

For the period from June 23, 2010 through November 30, 2010, the Company sold 472,528,000 shares of its common stock in a private placement at $0.00089 per share to 40 individuals for $42,190.

 

In September, 2012, the Company authorized the cancellation of 315,176,400 shares owned by various shareholders and that the 315,176,400 shares be returned to treasury.

 

On October 5, 2012, the Company had entered certain agreements with various shareholders to cancel an aggregate of 858,600,400 shares owned by them.

 

Capital Contribution

 

In May 2010, the Company’s former Chief Executive Officer contributed $100 for general working capital to the Company.