Quarterly report pursuant to sections 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
 6 Months Ended
Dec. 31, 2011
Stockholders' Equity

Note 4 Stockholders’ Equity

 

The Company has issued the following shares of common stock since inception:

 

Transaction Type   Quantity of Shares     Valuation     Value per Share  
Cash – related parties     2,550,000 *   $ 3,000     $ 0.001  
Cash – third parties     776,000 **     38,800       0.050  
Services – related parties (1)     10,000 *     500       0.050  
Services – third parties (2)     10,000 **     500       0.050  
Intellectual property – related party (3)     490,000 *     24,500       0.050  
      3,836,000     $ 67,300       $ 0.001 – 0.050  

 

(1) Valuation based upon cash offering price paid by founders on same date.
(2) Valuation based upon recent cash offering price to third parties.
(3) The Company issued these shares of common stock, to its Chief Executive Officer and Director, for the acquisition of certain intellectual property (“IP”).

 

Under Staff Accounting Bulletin Topic 5(G), “Transfers of Nonmonetary Assets by Promoters or Shareholders”, the IP was contributed to the Company at its historical cost basis of $0, as determined under generally accepted accounting principles. The Company has expensed this stock issuance as a component of research and development.

 

The Company also considered the valuation of the IP, whereby these assets had never been previously developed for commercialization. The IP acquired will be used by the Company in the attempt of furthering the business plan.

 

* Shares were issued in August 2010

** Shares were issued in December 2010