Quarterly report pursuant to sections 13 or 15(d)

Stockholders' Equity

v2.4.0.6
Stockholders' Equity
 3 Months Ended
Sep. 30, 2012
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

Note 4 Stockholders’ Equity

 

The Company issued the following shares of common stock from inception July 26, 2010 through June 30, 2011:

 

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       $          0.001-0.05  

 

The Company issued the following shares of common stock From June 30, 2011 through June 30, 2012:

 

Transaction type   Quantity of Shares     Valuation     Value per share  
Cash- related parties     131,250     $ 10,500     $ 0.08  
Services - third parties (2)     90,000       4,500       0.050  
Services- related party (4)     43,750       3,500       0.080  
      265,000     $ 18,500       $0.05 - $0.08  

  

(1) Valuation based upon cash offering price paid by founders on same date.

 

(2) Valuation based upon recent cash offering price since Company was not yet publicly trade.

 

(3) Valuation based upon recent cash offering price to third parties since Company was not yet publicly traded.

 

(4) 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 was acquired to be used by the Company in the attempt of furthering the original business plan.