STOCK HOLDERS EQUITY

12 Months Ended

Dec. 31, 2011

STOCK HOLDERS EQUITY

STOCK HOLDERS EQUITY

8.STOCK HOLDERS EQUITY:

The shareholders approved on December 30, 2011 a resolution to an alteration of the share capital of the Company by way of a reverse stock split by consolidating all of the currently authorized share capital of 500,000,000 common shares without par value, of which 191,596,371 common shares were issued and outstanding, on a one new for fifteen old basis, resulting in an authorized share capital of 33,333,333 common shares without par value, of which 12,772,568 common shares will be issued and outstanding.

The shareholders approved on December 30, 2011 a resolution to the reverse stock split, to approve a subsequent alteration of the share capital of the Company by increasing the authorized capital of the Company from 33,333,333 common shares without par value to 500,000,000 common shares without par value, of which 12,772,568 common shares will be issued and outstanding.

Shares subscribed are the value of the common stock assigned to the 800,000 shares issued in connection with notes payable.  The 800,000 shares were issued in January 2012.