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EX-32.2 - Magnolia Lane Income Fundex32.htm
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v2.4.0.6
Stockholders' Equity
6 Months Ended
Oct. 31, 2012
Stockholders' Equity [Abstract]  
STOCKHOLDERS’ EQUITY
NOTE 4 - STOCKHOLDERS’ EQUITY
 
Preferred stock
 
Preferred stock includes 100,000,000 shares authorized at a par value of $0.0001, of which none are issued or outstanding.
 
Common stock
 
Common Stock includes 200,000,000 shares authorized at a par value of $0.0001, of which 10,000,000 have been issued for the amount of $1,000 on May 12, 2009 to the Company’s officers as founders’ shares.
 
On January 21, 2010, the Company issued 4,000,000 shares of common stock for cash in the amount of $40,000, or $0.01 per share.
 
On September 23, 2010, the Company issued 375,000 shares of common stock for cash in the amount of $3,750, or $0.01 per share.
 
For the period from May 12, 2009 (inception) through October 31, 2012, the Company received advances from its founder of $29,734 in aggregate for working capital purposes, which were recorded as contribution of capital.