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COMMON STOCK
12 Months Ended
Dec. 31, 2011
Stockholders Equity Note [Abstract]  
COMMON STOCK

4. COMMON STOCK

 

On August 22, 2011 the Board of Directors authorized the issuance of 3,912,000 shares of common stock in satisfaction of two notes payable to stockholders in the amount of $45,000 plus accrued interest of $3,900. See Note 3.

 

Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock do not have cumulative voting rights. Holders of common stock are entitled to share ratably in dividends, if any, as may be declared from time to time by the Board of Director in its discretion from funds legally available therefore. In the event of liquidation, dissolution or winding up of the Company, the holders of common stock are entitled to share pro rata in all assets remaining after payment in full of all liabilities. All of the outstanding shares of common stock are fully paid and non-assessable. Holders of common stock have no preemptive rights to purchase the Company’s common stock. There are no conversions or redemption rights or sinking fund provisions with respect to the common stock.