0001096906-12-000314.txt : 20120214 0001096906-12-000314.hdr.sgml : 20120214 20120214161044 ACCESSION NUMBER: 0001096906-12-000314 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: YouChange Holdings Corp CENTRAL INDEX KEY: 0001442236 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 510665952 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-152959 FILM NUMBER: 12609836 BUSINESS ADDRESS: STREET 1: 7154 E. STETSON DRIVE STREET 2: SUITE 330 CITY: SCOTTSDALE STATE: AZ ZIP: 85251 BUSINESS PHONE: 866-712-9273 MAIL ADDRESS: STREET 1: 7154 E. STETSON DRIVE STREET 2: SUITE 330 CITY: SCOTTSDALE STATE: AZ ZIP: 85251 FORMER COMPANY: FORMER CONFORMED NAME: BlueStar Financial Group, Inc. DATE OF NAME CHANGE: 20080806 10-Q 1 ycng10q20111231.htm FORM 10-Q ycng10q20111231.htm




UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10-Q
(Mark One)
þ
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended December 31, 2011
 
Or
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from                                                       to

Commission file number 333-152959

YouChange Holdings Corp
(Exact name of registrant as defined in its charter)
Nevada
51-0665952
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
   
2708 North 68th Street, Suite 4
85257
Scottsdale, Arizona
(Zip Code)
(Address of principal executive offices)
 
 
866-712-9273
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes þ     No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes þ     No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o
Accelerated filer o
Non-accelerated filer o
Smaller reporting company þ
   
(Do not check if a smaller reporting company)
 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes o     No þ

The number of Common Shares of the Registrant outstanding as of January 31, 2012 was 38,930,605.

DOCUMENTS INCORPORATED BY REFERENCE - None

 
 

 
 
INDEX TO FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2011


PART I - FINANCIAL INFORMATION
 
Item 1.
Financial Statements.
 
Condensed Consolidated Balance Sheets as of December 31, 2011 (unaudited) and June 30, 2011
2
Unaudited Condensed Consolidated Statements of Operations for the Three and Six
 
Months Ended December 31, 2011 and 2010 and for the Period From
 
August 22, 2008 (Inception) to December 31, 2011
3
Unaudited Condensed Consolidated Statement of Changes in Shareholders' Equity (Deficit)
 
for the Period from August 22, 2008 (Inception) to December 31, 2011
4
Unaudited Condensed Consolidated Statements of Cash Flows for the Six
 
Months Ended December 31, 2011 and 2010 and for the Period From
 
August 22, 2008 (Inception) to December 31, 2011
5
Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
15
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
24
Item 4.
Controls and Procedures
24
     
PART II - OTHER INFORMATION
 
Item 1.
Legal Proceedings
25
Item 1A.
Risk Factors
25
Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
25
Item 3.
Defaults Upon Senior Securities
25
Item 4.
Removed and Reserved
25
Item 5.
Other Information
25
Item 6.
Exhibits
26



 
 

 
 
PART I – FINANCIAL INFORMATION

Item 1. Financial Statements
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
CONDENSED CONSOLIDATED BALANCE SHEETS
 
   
December 31,
   
June 30,
 
   
2011
   
2011
 
ASSETS
 
(Unaudited)
       
Current assets:
           
Cash and cash equivalents
  $ 5,269     $ 66,264  
Inventory
    100       3,522  
Prepaid expenses and other current assets
    17,117       14,541  
                 
Total current assets
    22,486       84,327  
                 
Advances to Feature Marketing
    95,875       96,875  
Property and equipment - net
    3,465       4,065  
Capitalized software costs
    158,150       128,650  
Other assets
    7,370       6,500  
                 
Total assets
  $ 287,346     $ 320,417  
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
               
Current liabilities:
               
Accounts payable and other accrued expenses
  $ 148,350     $ 63,212  
Accrued interest payable
    1,542       8,945  
Notes and advances payable - related party
    65,500       37,500  
Notes payable - short-term
    25,000       -  
Convertible notes payable - short-term, net of discount of $21,874 and nil
               
as of December 31, 2011 and June 30, 2011, respectively
    13,126       75,000  
                 
Total current liabilities
    253,518       184,657  
                 
Convertible notes payable - long-term
    25,000       -  
Convertible notes payable - related party, net of discount of nil and $20,729
               
as of December 31, 2011 and June 30, 2011, respectively
    -       4,271  
                 
Total liabilities
    278,518       188,928  
                 
Shareholders' equity:
               
Common stock, $001 par value; 60,000,000 shares authorized;
               
          39,005,605 and 38,426,227 shares issued as of December 31, 2011 and June 30, 2011,
               
          respectively;  38,930,605 and 38,351,227 shares outstanding as of December 31, 2011
               
          and June 30, 2011, respectively
    39,006       38,426  
Additional paid-in capital
    2,129,228       1,941,748  
Treasury stock, at cost (75,000 common shares
               
as of December 31, 2011 and June 30, 2011, respectively)
    (26,250 )     (26,250 )
Deficit accumulated during the development stage
    (2,133,156 )     (1,822,435 )
                 
Total shareholders' equity
    8,828       131,489  
                 
Total liabilities and shareholders' equity
  $ 287,346     $ 320,417  

 
 

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

 
2

 

YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                           
Period from
 
                           
August 22,
 
                           
2008
 
   
Three Months Ended
   
Six Months Ended
   
(Inception) to
 
   
December 31,
   
December 31,
   
December 31,
 
   
2011
   
2010
   
2011
   
2010
   
2011
 
                               
Net revenues
  $ 17,367     $ -     $ 28,200     $ -     $ 37,360  
Cost of products sold
    4,995       -       7,843       -       13,229  
                                         
Gross profit
    12,372       -       20,357       -       24,131  
                                         
Operating expenses:
                                       
Professional fees
    109,224       161,570       170,203       236,672       933,811  
Salaries and wages
    28,014       48,760       63,528       48,760       162,266  
Licensing fees
    -       15,000       -       79,130       89,130  
General and administrative
    18,520       14,592       39,190       29,920       149,719  
Marketing
    17,921       6,263       33,897       18,013       93,423  
Expense of reverse merger
    -       -       -       -       620,040  
                                         
Total operating expenses
    173,679       246,185       306,818       412,495       2,048,389  
                                         
Loss from operations
    (161,307 )     (246,185 )     (286,461 )     (412,495 )     (2,024,258 )
                                         
Other income (expense):
                                       
Interest income
    3,300       4,050       6,600       8,628       34,173  
Interest expense
    (9,665 )     (9,195 )     (30,860 )     (10,310 )     (143,071 )
                                         
Total other income (expense)
    (6,365 )     (5,145 )     (24,260 )     (1,682 )     (108,898 )
                                         
Net loss
  $ (167,672 )   $ (251,330 )   $ (310,721 )   $ (414,177 )   $ (2,133,156 )
                                         
Basic and diluted net loss
                                       
per common share
  $ -     $ (0.01 )   $ (0.01 )   $ (0.01 )        
                                         
Weighted average common
                                       
shares outstanding -
                                       
basic and diluted
    38,930,605       36,059,954       38,843,240       35,935,506          

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

 
3

 

YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT)
 
                           
Deficit
       
                           
Accumulated
       
               
Additional
         
During the
   
Total
 
   
Common Stock
   
Paid-in
   
Treasury
   
Development
   
Shareholders'
 
   
Shares
   
Amount
   
Capital
   
Stock
   
Stage
   
Equity
 
                                     
Balance at inception,
                                   
August 22, 2008
    -     $ -     $ -     $ -     $ -     $ -  
Issuance of common stock
                                               
upon formation
    1,000,000       1,000       -       -       -       1,000  
Net loss
    -       -       -       -       (67,103 )     (67,103 )
                                                 
Balance, June 30, 2009
    1,000,000       1,000       -       -       (67,103 )     (66,103 )
Common stock issued for cash
    4,000,000       4,000       -       -       -       4,000  
Common stock issued for
                                               
intangible asset
    1,500,000       1,500       1,000       -       -       2,500  
Conversion of convertible notes
                                               
payable and accrued interest
    683,197       683       512,998       -       -       513,681  
Effect of reverse merger
    26,766,391       26,767       59,546       -       -       86,313  
Common stock issued in
                                               
connection with reverse merger
    1,456,000       1,456       493,584       -       -       495,040  
Net loss
    -       -       -       -       (1,000,057 )     (1,000,057 )
                                                 
Balance, June 30, 2010
    35,405,588       35,406       1,067,128       -       (1,067,160 )     35,374  
Common stock issued for cash
    1,000,000       1,000       249,000       -       -       250,000  
Common stock issued for services
    1,404,753       1,404       407,922       -       -       409,326  
Conversion of convertible notes
                                               
payable and accrued interest
    615,886       616       161,381       -       -       161,997  
Beneficial conversion feature
    -       -       56,317       -       -       56,317  
Acquisition of treasury stock
    -       -       -       (26,250 )     -       (26,250 )
Net loss
    -       -       -       -       (755,275 )     (755,275 )
                                                 
Balance, June 30, 2011
    38,426,227       38,426       1,941,748       (26,250 )     (1,822,435 )     131,489  
Common stock issued for services
    143,041       143       48,634       -       -       48,777  
Beneficial conversion feature
    -       -       30,199       -       -       30,199  
Conversion of convertible notes
                                               
payable and accrued interest
    436,337       437       108,647       -       -       109,084  
Net loss
    -       -       -       -       (310,721 )     (310,721 )
                                                 
Balance, December 31, 2011
    39,005,605     $ 39,006     $ 2,129,228     $ (26,250 )   $ (2,133,156 )   $ 8,828  

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

 
4

 

YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 
               
Period from
 
               
August 22,
 
               
2008
 
               
(Inception) to
 
   
Six Months Ended December 31,
   
December 31,
 
   
2011
   
2010
   
2011
 
                   
Cash flows from operating activities:
                 
Net loss
  $ (310,721 )   $ (414,177 )   $ (2,133,156 )
                         
Adjustments to reconcile net loss to net cash
                       
used in operating activities:
                       
Amortization of debt discounts
                       
and deferred financing costs
    29,054       5,958       114,642  
Depreciation expense
    600       600       1,800  
Common stock issued for services
    48,777       292,246       458,103  
Common stock issued for interest
    -       -       13,681  
Cash based expense for reverse merger
    -       -       125,000  
Common stock issued for reverse merger
    -       -       495,040  
Changes in operating assets and liabilities:
                       
Inventory
    3,422       -       (100 )
Prepaid expenses and other assets
    (3,446 )     (8,723 )     (35,112 )
Accounts payable and other accrued expenses
    85,138       (14,430 )     147,360  
Accrued interest payable
    1,681       -       14,623  
                         
Net cash used in operating activities
    (145,495 )     (138,526 )     (798,119 )
                         
Cash flows from investing activities:
                       
Software development costs
    (29,500 )     (49,400 )     (158,150 )
Advances to Feature Marketing
    -       (40,000 )     (110,000 )
Repayments from Feature Marketing
    1,000       -       1,000  
Purchase of property and equipment
    -       -       (5,265 )
Cash paid for reverse merger
    -       -       (87,500 )
                         
Net cash used in investing activities
    (28,500 )     (89,400 )     (359,915 )
                         
Cash flows from financing activities:
                       
Proceeds from convertible notes payable
    60,000       233,000       318,000  
Proceeds from notes payable
    35,000       -       535,000  
Borrowings from related parties
    35,500       -       124,492  
Proceeds from sale of common stock
    -       -       255,000  
Repayment of notes payable
    (10,000 )     -       (10,000 )
Repayment of related party payables
    (7,500 )     -       (9,189 )
Fees paid for financing costs
    -       -       (50,000 )
                         
Net cash provided by financing activities
    113,000       233,000       1,163,303  
                         
Increase (decrease) in cash and cash equivalents
    (60,995 )     5,074       5,269  
Cash and cash equivalents, beginning of period
    66,264       44,309       -  
                         
Cash and cash equivalents, end of period
  $ 5,269     $ 49,383     $ 5,269  


The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

 
5

 

YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.  Organization of Business and Basis of Presentation

On March 30, 2010, Youchange, Inc. and BlueStar Financial Group, Inc. (“BSFG”), a Nevada corporation and publicly traded shell company at such time, completed a merger transaction (referred to as the “reverse merger” throughout this filing), which is described in further detail below, and resulted in Youchange, Inc. shareholders obtaining control of BSFG. The surviving publicly traded entity following the reverse merger transaction changed its name to “YouChange Holdings Corp” during May 2010.  The terms “youchange”, “we”, “us”, “our” or the “Company” refer to YouChange Holdings Corp and its consolidated subsidiary, Youchange, Inc., following the date of the merger transaction, and to Youchange, Inc. prior to the date of the reverse merger transaction. All significant intercompany balances and transactions are eliminated in consolidation. Our fiscal year end is June 30.

For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction, and consequently the assets and liabilities and the historical operations reflected in these condensed consolidated financial statements are those of Youchange, Inc. and are recorded at the historical cost basis of Youchange, Inc.  All shares and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of Youchange.

We were organized as a software and services venture in the Green Technology (“GreenTech”) sector to develop a leading social movement to focus on the elimination of electronic waste (“eWaste”) in the United States, which includes any used, obsolete end-of-life consumer electronics and computer devices.  The GreenTech sector is a recognized business sector also known as Environmental Technology or “Envirotech”.  Companies in this sector apply environmental science in an effort to help conserve the environment and choose business approaches that are environmentally and economically sustainable.

The Company’s software includes a destination website, www.youchange.com, where users can join and refer friends to learn about the problem of electronic waste through content, blogs and forums.  Site members are encouraged to take action through the turn-over and sale of their end-of-life, used or obsolete electronics, which reduces the risk of adding to the waste stream.  Members access the youchange calculator and offer database through www.youchange.com and by answering a series of questions, may receive a real-time cash and/or reward points offer. Initially, reward points collected by members may be used to exchange for other items  in the “Shop Green” area of the youchange.com website, which is an online marketplace where points can be exchanged for product. In addition to the youchange.com website, users can join and learn about local events and electronic collection drives through youchange Facebook, Twitter and Linked-In social media pages.  The local electronic collection events play an important part of the youchange strategy and are done in partnership with local sports teams, businesses, individuals, schools and charity groups.

Youchange is developing an electronic Tracking System (“eTS”) to provide asset receiving, refurbishment and disposal recycling tracking through the complete handling cycle of all electronics collected.  In addition, the website and the eTS are expected to allow business to business activity. Businesses can dispose of excess electronics in bulk. The eTS is expected to extend past the website and electronic pricing and rewards calculator previously launched through youchange.com and is intended to be used by local retailers, electronic refurbishment centers and recyclers that may partner with youchange.  Youchange intends on generating revenue through the refurbishment, resale (“reCommerce”) and recycling of the electronics collected, facilitating the sustainability objectives by extending the lifecycle of these items and keeping such items from the electronic waste stream.  Once developed and launched, the youchange eTS is expected to become part of a system that will allow youchange to establish a reCommerce business without an investment in bricks and mortar by partnering with, and charging a management fee to, local retailers, electronic refurbishment centers and recyclers.
 
The Company has realized minimal revenues from its planned business purpose to the date of this filing and currently has limited operations.  Accordingly, the Company is considered to be in the development stage. The Company has been in the development stage since its formation.  The Company has devoted its efforts to business planning and development and has allocated a substantial portion of its time and investment in bringing its product to the market and raising capital.



 
6

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

 
These Unaudited Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant intercompany transactions and accounts have been eliminated. Certain information related to our organization, significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) has been condensed or omitted. The accounting policies followed in the preparation of these Unaudited Condensed Consolidated Financial Statements are consistent with those followed in our annual consolidated financial statements for the year ended June 30, 2011, as filed on Form 10-K. In the opinion of management, these Unaudited Condensed Consolidated Financial Statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to fairly state our financial position, results of operations and cash flows for the periods presented and the presentations and disclosures herein are adequate when read in conjunction with our Form 10-K for the year ended June 30, 2011. Certain reclassifications have been made to the prior period financial statement amounts to conform to the current presentation.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include carrying amounts of long-lived assets and advances to Feature Marketing, deferred financing costs and deferred taxes.

Basic earnings (loss) per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.  Diluted earnings (loss) per share is calculated based on the weighted average shares of Common Stock outstanding during the period plus the dilutive effect of outstanding Common Stock purchase warrants and stock options using the treasury stock method and the dilutive effects of convertible securities using the if-converted method. Basic and diluted loss per share were the same for all periods reported due to the net losses attributable to common shareholders for all periods reported. As of December 31, 2011, we had convertible notes payable outstanding that, with accrued interest, were convertible into approximately 227,500 common shares.  As of December 31, 2011, the conversion ratio for these notes was lower than our closing stock price.  These convertible notes payable are described in more detail in Note 7.

Reverse Merger with BSFG

On March 15, 2010, BSFG and its wholly owned subsidiary BlueStar Acquisition Corporation (“Merger Sub”) entered into an Agreement and Plan of Merger  (the “Merger Agreement”) with Youchange, Inc. The Merger Agreement and the acquisition agreed to therein was closed on March 30, 2010.  At the closing of the reverse merger, Youchange, Inc. merged into Merger Sub, with Youchange, Inc. as the surviving entity. At the time the Merger Agreement was executed, Jeffrey Rassás and Richard Papworth, currently our Chief Executive Officer and Chief Financial Officer, respectively, and directors of the Company, were directors and officers of both BSFG and Youchange, Inc. BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange Inc. from Youchange Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.  Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.  These figures included 2,049,591 shares of BSFG Common Stock issued to the former note holders of Youchange, Inc. whereby the $500,000 principal amount of secured convertible promissory notes plus accrued interest of $13,681 was converted into 683,197 shares of Youchange, Inc. common stock immediately prior to the reverse merger. As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. Additionally, following the completion of the reverse merger, we issued 1,456,000 shares of our common stock to the sellers of BSFG.

Going Concern

The Company's financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and allow it to continue as a going concern.  The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.  If the Company is unable to obtain adequate capital, it could be forced to cease operations.


 
7

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

 
In order to continue as a going concern, the Company will need, among other things, additional capital resources.  Management's plans to obtain such resources for the Company include (i) obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses; (ii) obtaining funding from outside sources through the sale of its debt and/or equity securities; and (iii) as a last resort, seeking out and completing a merger with another company. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attaining profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Recently Issued Accounting Pronouncements

During September 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-08, “Testing Goodwill for Impairment” (“ASU 2011-08”). ASU 2011-08 is intended to simplify the testing of goodwill for impairment by permitting an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test, which is currently required for all companies that report goodwill. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, although early adoption is permitted. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.

During June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income” (“ASU 2011-05”).  ASU 2011-05 provides for the option to present the total of comprehensive income, the components of net income and the components of other comprehensive income (“OCI”) either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Regardless of which format is chosen, the amendments establish a requirement for entities to present on the face of the financial statements reclassification adjustments for items that are reclassified from OCI to net income in the statement(s) where the components of net income and the components of OCI are presented. The amendments in ASU 2011-05 are effective, on a retrospective basis, for public entities for interim and annual periods beginning after December 15, 2011; however, during December 2011 the FASB issued ASU No. 2011-12, which defers those changes in ASU 2011-05 that relate to the presentation of reclassification adjustments. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.

During May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASC 2011-04”).  The amendments in ASC 2011-04 were issued in order to align the fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards.  Consequently, the amendments change the wording used to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements.  However, many of the amendments in ASC 2011-04 will not result in a change in the application of the requirements in ASC 820, Fair Value Measurement. The amendments in ASU 2011-04 are effective, on a prospective basis, for public entities for interim and annual periods beginning after December 15, 2011, and for nonpublic entities for annual periods beginning after December 15, 2011. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.

2. Feature Marketing Acquisition

Effective December 31, 2010, we entered into a Share Exchange Agreement (the "Exchange Agreement") with Feature Marketing, Inc. (“Feature Marketing”) an Arizona corporation.  The Exchange Agreement provided for the acquisition of all issued and outstanding shares of Feature Marketing in exchange for 3,030,303 shares of our common stock and $200,000 of cash. Feature Marketing owns and operates a computer and consumer electronics refurbishment center based in Scottsdale, Arizona, which we intended to integrate with our planned operations.


 
8

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Subsequent to the completion of the acquisition, on February 25, 2011, the Company and Feature Marketing entered into a Rescission Agreement that provided for the rescission of the acquisition as of December 31, 2010, so that from an economic standpoint, the acquisition never occurred and all applicable shares were never exchanged. Accordingly, the financial position and results of Feature Marketing have not been, and are never expected to be, consolidated with those of the Company. The Company believes the rescission of this transaction was in its best interests based on the discovery of a mutual mistake and impossibility to perform under the agreement, which was not contemplated by either party.

The Company executed a non-exclusive fulfillment agreement with Feature Marketing on March 29, 2011.  Under the terms of the fulfillment agreement, Feature Marketing will provide receiving, refurbishment, shipping and storage services and  repay the amounts previously advanced towards the acquisition discussed above.  As of December 31, 2011 and June 30, 2011 advances outstanding totaled approximately $96,000 and $97,000, respectively, which are secured by the assets of Feature Marketing and are supported by a promissory note from Feature Marketing.  These advances bear interest at a rate of 24.0% per annum.  We have recognized interest income totaling approximately $34,000 relative to these advances for the period from August 22, 2008 (inception) to December 31, 2011.  During June 2011, Feature Marketing returned 75,000 common shares it had previously owned, in exchange for a reduction of amounts due us of approximately $26,000, which was the fair value of the shares at the time they were returned.  These shares have been accounted for as treasury stock.  As of December 31, 2011 and June 30, 2011, management believes all outstanding advances to Feature Marketing, and interest on such advances, will be fully realized and accordingly, has not provided for any allowance for these balances as of such dates.

3. Common Stock

Our authorized common stock consists of 60,000,000 shares of common stock with a par value of $.001. The following summarizes our common stock activity for the period from August 22, 2008 (inception) to the completion of the reverse merger on March 30, 2010:

 
·
Upon formation on August 22, 2008, Youchange, Inc. issued 1,000,000 of its common shares to its founder and Chief Executive Officer, Jeffrey Rassás, in exchange for $1,000.
     
 
·
During fiscal 2010, Youchange, Inc. issued an additional 4,000,000 of its common shares to unrelated entities in exchange for $4,000 (except for 40,000 of these shares, which were issued to an officer / director).
     
 
·
During fiscal 2010, Youchange, Inc. issued 1,500,000 shares of its common stock to Mr. Rassás in exchange for certain intangible assets related to the youchange.com domain. This transaction was valued at $2,500.  Although it may require renewal from time-to-time, this intangible asset has an indefinite life and accordingly is not being amortized.
     
 
·
During fiscal 2010, Youchange, Inc. issued 683,197 shares of its common stock upon conversion of $500,000 in convertible notes plus $13,681 of unpaid accrued interest.

As described in more detail above, on March 30, 2010, BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange, Inc. from Youchange, Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.  Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.

In conjunction with the reverse merger, the Company issued 1,456,000 shares of its common stock as partial compensation for the purchase of the BSFG.  The shares were valued at $0.34 per share, which was the closing stock price on March 30, 2010.  The total fair value of these common shares of $495,040 was expensed as an acquisition cost.

As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction.


 
9

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

During fiscal 2011, we issued common shares for the following transactions:

 
·
During July 2010, we entered into a one-year consulting agreement with Naser Ahmad through NOMA Enterprises, LLC to provide services as Chief Technology Officer of Youchange, Inc., and issued 333,333 shares of our common stock as compensation for such services. The term of this agreement is from January 1, 2010 to December 31, 2010. As of June 30, 2010, we had accrued $60,000 of compensation expense, which was paid by way of the issuance of one half of these shares.  We recognized the remaining $33,333 of expense during July 2010 for the 333,333 total shares issued, which was recorded as professional fees. The consulting agreement has not been renewed as of the date of this filing; however, Mr. Ahmad has continued to provide services to the Company on a month-to-month basis for $10,000 per month, and we issued an additional 142,528 common shares during June 2011 as compensation for the six months ended June 30, 2011.
     
 
·
During July 2010, we entered into a licensing agreement with a strategic partner for access to a database for pricing of used consumer electronic goods.  We issued 193,322 shares of common stock upon the execution of this agreement and were required to pay $35,000 over the first year of the agreement, and under the original terms, were required to pay $63,000 over the second year of the agreement and issue additional common shares valued at $30,000 as payment for the second year of the agreement. After the one year anniversary of this agreement, we have agreed to terminate the provisions and terms of the second year and negotiate a new agreement that is more conducive to the current economic status and needs of the Company.  Until such time as the new terms have been reached, the strategic partner has agreed to continue providing access to the pricing database. We expensed $54,130 as general and administrative expense for the issuance of the 193,322 shares of common stock during July 2010.
     
 
·
During December 2010, we entered into a one year consulting agreement with Mary Juetten, through Protect your Intellectual Property (PIP), LLC to provide services as Chief Operating Officer of Youchange, Inc. The term of this agreement is from October 1, 2010 to September 30, 2011.  During fiscal 2011, we issued a total of 625,625 shares of our common stock as compensation for services and recognized $160,250 of expense for the issuance of these shares, which was recorded as professional fees.  Additionally, we recognized expense of approximately $18,000 for cash-based consideration paid to Ms. Juetten’s for her services as Chief Operating Officer of Youchange, Inc, which is also recorded as professional fees.  During the first quarter of fiscal 2012, Ms. Juetten resigned from her position with the Company.
     
 
·
During March 2011, we raised $250,000 through the sale of 1,000,000 common shares in a private placement transaction with an accredited investor at a sales price of $0.25 per common share.
     
 
·
During June 2011, we issued 28,506 common shares to Richard Papworth, our Chief Financial Officer for services rendered.  We expensed $12,000 as professional fees for the issuance of these shares.
     
 
·
During fiscal 2011, we issued 615,886 common shares upon conversion of principal and interest previously outstanding on convertible notes payable.  These transactions are discussed in more detail in Note 7.
     
 
·
During fiscal 2011, we also issued 81,439 common shares in exchange for other professional services.  We expensed $29,022 as general and administrative expense for the issuance of these shares.


 
10

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

During the first six months of fiscal 2012, we issued common shares for the following transactions:

 
·
During the first six months of fiscal 2012, we issued 86,097 common shares to an entity controlled by Naser Ahmad, the Chief Technology Officer of Youchange, Inc.  We expensed $30,000 as professional fees for the issuance of these shares.
     
 
·
During the first six months of fiscal 2012, we issued 17,219 common shares to Richard Papworth, our Chief Financial Officer for services rendered.  We expensed $6,000 as professional fees for the issuance of these shares.
     
 
·
During July 2011, we issued 436,337 common shares upon conversion of principal and interest previously outstanding on convertible notes payable, of which 103,296 was with a related party.  These transactions are discussed in more detail in Note 7.
     
 
·
During the first six months of fiscal 2012, we also issued 39,725 common shares in exchange for other professional services.  We expensed approximately $10,000 as professional fees and approximately $3,000 as marketing expense for the issuance of these shares.
 
4. Short Term Note Payable to BSFG

On January 1, 2010, Youchange, Inc. entered into a $75,000 note payable agreement with the previous shareholders of BSFG, which, together with a $50,000 cash payment and the issuance of 1,456,000 common shares following the reverse merger, was used to complete the reverse merger with BSFG. The payable was due in two equal installments, which were due on April 1, 2010 and June 30, 2010.  In the event we failed to pay the first installment in full, under the terms of the agreement, the entire balance would accrue interest at 9.0% per annum retroactive from January 1, 2010. We may pay this interest penalty in cash or stock at a price of $0.05 per share, at our option.  The first payment of $37,500 was paid when due on April 1, 2010; however, we have not made the second payment as of the date of this filing.
  
5. Related Party Advances

During the six months ended December 31, 2011 we received $35,500 in short-term advances from Jeffrey Rassás, our Chief Executive Officer and Chairman of our Board of Directors, of which, $7,500 was repaid during such time.

6. Notes Payable and Advances

During November 2011, we issued a $25,000 note payable with an unrelated, accredited third party in exchange for cash.  The note matures 60 days from the date of issuance and bears interest at a rate of 10.0% per annum with an increase to 12.0% per annum following the maturity date.  This note has not been repaid as of the date of this filing, and is accordingly currently in default.

During November 2011, we also received $10,000 from an unrelated party under a short-term advance.  This advance was repaid during December 2011 with a stated interest amount of $100.


 
11

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

7. Convertible Notes Payable

The following summarizes convertible notes payable activity following the reverse merger described in Note 1:

 
·
During July 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured on January 19, 2011 and bears interest at a rate of 12.0% per annum.  The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share.  Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note.  During July 2011, this convertible note, plus $3,178 of accrued interest, was converted to 112,713 common shares.
     
 
·
During August 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured on February 6, 2011 and bears interest at 12.0% per annum.  The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note. During July 2011, this convertible note, plus $2,999 of accrued interest, was converted to 111,996 common shares.
     
 
·
During September 2010, we issued a $22,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and bears interest at a rate of 8.0% per annum. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note. During June 2011, this convertible note, plus $1,247 of accrued interest, was converted to 92,983 common shares.
     
 
·
During September 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured 61 days from the date of issue and bears interest at a rate of 8.0% per annum. The Company had the right to extend the maturity of this note an additional 30 days. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $5,500 for this convertible note. During July 2011, this convertible note, plus $2,083 of accrued interest, was converted to 108,332 common shares.
     
 
·
During October 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share.  During June 2011, this convertible note, plus $1,250 of accrued interest, was converted to 87,500 common shares.
 
 
 
 
·
During November 2010, we issued a $13,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $1,083 for this convertible note. During June 2011, this convertible note, plus $580 of accrued interest, was converted to 45,268 common shares.
     
 
·
During December 2010, we issued an $8,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $1,334 for this convertible note. During June 2011, this convertible note, plus $320 of accrued interest, was converted to 27,735 common shares.

 
12

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
 
 
·
During December 2010, we issued a $90,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note is secured by all of the assets of the Company, matures two years from the date of issuance and may be accelerated if the Company raises $1.0 million in private financing before the maturity date.  The note bears interest at a rate of 12.0% per annum and is convertible at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Unpaid accrued interest is convertible at any time, at the discretion of the investor, to shares of our common stock, with the conversion rate equal to the average closing price of our common stock for the ten days preceding such conversion.  Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $23,400 for this convertible note. During January 2011, this convertible note, plus $600 of accrued interest, was converted to 362,400 common shares.
     
 
·
During March 2011, we issued a $25,000 convertible note with the spouse of a previous officer of  YouChange, Inc in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note. During July 2011, this convertible note, plus $824 of accrued interest, was converted to 103,296 common shares.
     
 
·
During August 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note.
     
 
·
During October 2011, we issued a $10,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures three months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $5,200 for this convertible note. This note has not been repaid as of the date of this filing, and is accordingly currently in default.
     
 
·
During December 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures six months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note.

As of December 31, 2011, the convertible notes payable and associated accrued interest described above are convertible into a total of approximately 227,500 common shares.

The intrinsic value of a beneficial conversion feature inherent to a convertible note payable, which is not bifurcated and accounted for separately from the convertible note payable and may not be settled in cash upon conversion, is treated as a discount to the convertible note payable. This discount is amortized over the period from the date of issuance to the date the note is due using the effective interest method. If the note payable is retired prior to the end of its contractual term, the unamortized discount is expensed in the period of retirement to interest expense. In general, the beneficial conversion feature is measured by comparing the effective conversion price, after considering the relative fair value of detachable instruments included in the financing transaction, if any, to the fair value of the common shares at the commitment date to be received upon conversion. 

8. Professional Fees
 
Included in professional fees on the accompanying Condensed Consolidated Statements of Operations are charges relative to certain of the Company’s officers of approximately $80,000 and $125,000 for the three months ended December 31, 2011 and 2010, respectively, $128,000 and $194,000 for the six months ended December 31, 2011 and 2010, respectively and $660,000 for the period from August 22, 2008 (inception) to December 31, 2011.
 
 
13

 
YOUCHANGE HOLDINGS CORP
(A DEVELOPMENT STAGE ENTERPRISE)
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
 
9. Commitments and Contingencies

Operating Leases

The Company leases approximately 2,400 square feet of office space in Scottsdale, Arizona.  The lease agreement expires during August 2012 and calls for rent of approximately $2,500 per month.

Indemnifications

During the normal course of business, we make certain indemnities and commitments under which we may be required to make payments in relation to certain transactions. These may include: (i) intellectual property indemnities to customers in connection with the use, sales and/or license of products and services; (ii) indemnities to customers in connection with losses incurred while performing services on their premises; (iii) indemnities to vendors and service providers pertaining to claims based on negligence or willful misconduct; and (iv) indemnities involving the representations and warranties in certain contracts. In addition, under our by-laws we are committed to our directors and officers for providing for payments upon the occurrence of certain prescribed events. The majority of these indemnities and commitments do not provide for any limitation on the maximum potential for future payments that we could be obligated to make.




 
14

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This Quarterly Report on Form 10-Q, including Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, contains certain “forward-looking statements,” which include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation, and availability of resources. These forward-looking statements include, without limitation, statements regarding: proposed new initiatives; expectations regarding planned operations; statements concerning projections, predictions, expectations, estimates, or forecasts as to our business, financial and operational results, and future economic performance; and statements of management’s goals and objectives and other similar expressions concerning matters that are not historical facts. Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar expressions, as well as statements in future tense, identify forward-looking statements.
 
Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.

Forward-looking statements speak only as of the date the statements are made. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, those described in “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2011, as updated in our subsequent reports filed with the SEC, including any updates found in Part II, Item 1A of this or other reports on Form 10-Q. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Overview and Recent Developments

On March 30, 2010, Youchange, Inc. and BlueStar Financial Group, Inc. (“BSFG”), a Nevada corporation and publicly traded shell company at such time, completed a merger transaction (referred to as the “reverse merger” throughout this filing), which is described in further detail below, and resulted in Youchange, Inc. shareholders obtaining control of BSFG. The surviving publicly traded entity following the reverse merger transaction changed its name to “YouChange Holdings Corp” during May 2010.  The terms “youchange”, “we”, “us”, “our” or the “Company” refer to YouChange Holdings Corp and its consolidated subsidiary, Youchange, Inc., following the date of the merger transaction, and to Youchange, Inc. prior to the date of the reverse merger transaction. Our fiscal year end is June 30.

For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction, and consequently the assets and liabilities and the historical operations reflected in the condensed consolidated financial statements are those of Youchange, Inc. and are recorded at the historical cost basis of Youchange, Inc.  All shares and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of Youchange.

We were organized as a software and services venture in the Green Technology (“GreenTech”) sector to develop a leading social movement to focus on the elimination of electronic waste (“eWaste”) in the United States, which includes any used, obsolete end-of-life consumer electronics and computer devices.  The GreenTech sector is a recognized business sector also known as Environmental Technology or “Envirotech”.  Companies in this sector apply environmental science in an effort to help conserve the environment and choose business approaches that are environmentally and economically sustainable.


 
15

 

The Company’s software includes a destination website, www.youchange.com, where users can join and refer friends to learn about the problem of electronic waste through content, blogs and forums.  Site members are encouraged to take action through the turn-over and sale of their end-of-life, used or obsolete electronics, which reduces the risk of adding to the waste stream.  Members access the youchange calculator and offer database through www.youchange.com and by answering a series of questions, may receive a real-time cash and/or reward points offer. Initially, reward points collected by members may be used to exchange for other items  in the “Shop Green” area of the youchange.com website, which is an online marketplace where points can be exchanged for product. Members may send their items to us, or drop-off their items at our offices. In addition to the youchange.com website, users can join and learn about local events and electronic collection drives through youchange Facebook, Twitter and Linked-In social media pages.

We plan to collect used electronics through:

 
(i)
Offers made to members through our website, which is discussed above.
 
 
 
(ii)
Using already existing retailers or businesses as drop-off locations for used electronics.  We plan to develop strategic alliances with retailers, electronic refurbishment centers and recyclers that may partner with youchange.  By listing retailers as drop-off locations on our website, we will encourage our members to visit these locations and thus, would expect an increase in foot traffic for those locations.  If members drop-off items rather than use our prepaid shipping mechanism, we expect to obtain these items at a lower cost. We are in discussions with Phoenix locations of a national car dealership, a major university, and several local charities and other organizations. We have drop-off agreements with a local computer repair store chain, Red Seven, the Phoenix location of the national Childhelp charity, and one of our recycling partners, E-Waste Harvesters Inc.
 
 
(iii)
Collecting used electronics through Company initiated collection events.  Local electronic collection events play an important part of the youchange strategy and are done in partnership with local sports teams, businesses and charity groups. We have developed a collection event and brand awareness model built around employees of third party companies bringing their excess electronics to work on designated days.  We have piloted these events over the past month in the Phoenix, Arizona area.  A second component of this collection event and brand awareness model is to partner with local sports teams to host pre-game collection and brand awareness events.  A third component of this model, which was launched in April 2011, is a new program we refer to as GREEN Ambassadors and GREEN Leaders, where members of the youchange community host collection events at various business or charity locations.  As with retail and business permanent drop-off locations, if members drop-off their items rather than use our prepaid shipping mechanism, we expect to obtain these items at a lower cost.

The GREEN Leaders program was piloted at two Phoenix private elementary schools and is expected to be expanded to public and private high schools and colleges. We have several school districts piloting the program this fall in Arizona, including schools in Tempe and Phoenix.  The GREEN Ambassadors program is expected to be piloted in a retirement community and we are in discussions with a local umbrella charity organization to allow its members to become GREEN Ambassadors.

Youchange is developing an electronic Tracking System (“eTS”) to provide asset receiving, refurbishment and disposal recycling tracking through the complete handling cycle of all electronics collected.  In addition, the website and the eTS are expected to allow business to business activity. Businesses can dispose of excess electronics in bulk. The eTS is expected to extend past the website and electronic pricing and rewards calculator previously launched through youchange.com and is intended to be used by local retailers, electronic refurbishment centers and recyclers that may partner with youchange.  Youchange intends on generating revenue through the refurbishment, resale (“reCommerce”) and recycling of the electronics collected, facilitating the sustainability objectives by extending the lifecycle of these items and keeping such items from the electronic waste stream.  Once developed and launched, the youchange eTS is expected to become part of a system that will allow youchange to establish a reCommerce business without an investment in bricks and mortar by partnering with, and charging a management fee to, local retailers, electronic refurbishment centers and recyclers.

We intend on developing limited in-house  refurbishment, focusing on sanitizing data, and plan to out-source recycling to responsible recyclers with certifications (either R2 or e-stewards industry certifications).  We are currently meeting with  a local recycling and refurbishing company to discuss a supplier relationship.
 
The Company has realized minimal revenue from its planned business purpose to the date of this filing and currently has limited operations.  Accordingly, the Company is considered to be in the development stage. The Company has been in the development stage since its formation.  The Company has devoted its efforts to business planning and development and has allocated a substantial portion of its time and investment in bringing its product to the market and raising capital.

 
16

 
 
Background of BSFG

BSFG was incorporated in the state of Nevada on July 12, 2002. BSFG had the principal business objective of working toward establishing “small ticket” equipment leases within a small niche of the equipment leasing market. BSFG intended to provide cost effective “small ticket item” leasing to small and middle market companies primarily within the hospitality, spa and resort communities. This business plan was never implemented and no significant business activities related thereto ever occurred. Since becoming incorporated, other than the reverse merger described below, BSFG did not make any significant purchases or sales of assets, nor did it engage in any mergers, acquisitions or consolidations.

After careful consideration it became clear there could be great benefit to the economic downturn resulting in the liquidation of non-performing leases and used equipment.  It was further concluded that much of this excess equipment and used electronics from both small to middle market companies and individual consumers was classified as eWaste and presented a negative environmental impact.  This problem was growing and very few viable solutions have made it to market leaving a substantial void in this highly visible and much anticipated GreenTech sector.  It was decided that to fully take advantage and leverage this new market opportunity BSFG would need to expand the board and management team and begin an immediate search for a company with experience, relationships and leadership, focused in this newly defined sector of “GreenTech”.  As discussed more fully below, BSFG was successful in locating and merging with Youchange, Inc., a company that had the desired attributes. The youchange management team will lead and execute this new direction that will focus on the eWaste challenge by launching the youchange.com website, software and services application that is expected to include paying and providing reward points to businesses and consumers for their used electronics, refurbishing and recycling through established and certified strategic partners and generating revenue from the sales and reCommerce (resale online) of these products as well as management fees for proprietary data.

Reverse Merger with BSFG

On March 15, 2010, BSFG and its wholly owned subsidiary BlueStar Acquisition Corporation (“Merger Sub”) entered into an Agreement and Plan of Merger  (the “Merger Agreement”) with Youchange, Inc. The Merger Agreement and the acquisition agreed to therein was closed on March 30, 2010.  At the closing of the reverse merger, Youchange, Inc. merged into Merger Sub, with Youchange, Inc. as the surviving entity. At the time the Merger Agreement was executed, Jeffrey Rassás and Richard Papworth, currently our Chief Executive Officer and Chief Financial Officer, respectively, and directors of the Company, were directors and officers of both BSFG and Youchange, Inc. BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange Inc. from Youchange Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.  Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.  These figures included 2,049,591 shares of BSFG Common Stock issued to the former note holders of Youchange, Inc. whereby the $500,000 principal amount of secured convertible promissory notes plus accrued interest of $13,681 was converted into 683,197 shares of Youchange, Inc. common stock immediately prior to the reverse merger. As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. Additionally, following the completion of the reverse merger, we issued 1,456,000 shares of our common stock to the sellers of BSFG.

Feature Marketing Acquisition

Effective December 31, 2010, we entered into a Share Exchange Agreement (the "Exchange Agreement") with Feature Marketing, Inc. (“Feature Marketing”) an Arizona corporation.  The Exchange Agreement provided for the acquisition of all issued and outstanding shares of Feature Marketing in exchange for 3,030,303 shares of our common stock and $200,000 of cash. Feature Marketing owns and operates a computer and consumer electronics refurbishment center based in Scottsdale, Arizona, which we intended to integrate with our planned operations.

Subsequent to the completion of the acquisition, on February 25, 2011 the Company and Feature Marketing entered into a Rescission Agreement that provided for the rescission of the acquisition as of December 31, 2010, so that from an economic standpoint, the acquisition never occurred and all applicable shares were never exchanged. Accordingly, the financial position and results of Feature Marketing have not been, and are never expected to be, consolidated with those of the Company. The Company believes the rescission of this transaction was in its best interests based on the discovery of a mutual mistake and impossibility to perform under the agreement, which was not contemplated by either party.


 
17

 

The Company executed a non-exclusive fulfillment agreement with Feature Marketing on March 29, 2011.  Under the terms of the fulfillment agreement, Feature Marketing will provide receiving, refurbishment, shipping and storage services and  repay the amounts previously advanced towards the acquisition discussed above.  As of December 31, 2011 advances outstanding totaled approximately $96,000 and $97,000, respectively, which are secured by the assets of Feature Marketing and are supported by a promissory note from Feature Marketing.  These advances bear interest at a rate of 24.0% per annum.  We have recognized interest income totaling approximately $34,000 relative to these advances for the period from August 22, 2008 (inception) to December 31, 2011.  During June 2011, Feature Marketing returned 75,000 common shares it had previously owned, in exchange for a reduction of amounts due us of approximately $26,000, which was the fair value of the shares at the time they were returned.  These shares have been accounted for as treasury stock. As of December 31, 2011 and June 30, 2011, management believes all outstanding advances to Feature Marketing, and interest on such advances, will be fully realized and accordingly, has not provided for any allowance for these balances as of such dates.

Critical Accounting Estimates and Policies

General

Our discussion and analysis of our financial condition and results of operations are based on our Condensed Consolidated Financial Statements, which have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The preparation of the Condensed Consolidated Financial Statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses and related disclosure of contingent assets and liabilities. On an ongoing basis we evaluate our estimates, including those related to areas that require a significant level of judgment or are otherwise subject to an inherent degree of uncertainty. These areas include carrying amounts of long-lived assets and advances to Feature Marketing, deferred financing costs and deferred taxes. We base our estimates on historical experience, our observance of trends in particular areas and information or valuations and various other assumptions that we believe to be reasonable under the circumstances and which form the basis for making judgments about the carrying value of assets and liabilities that may not be readily apparent from other sources. Actual amounts could differ significantly from amounts previously estimated.

We believe that of our significant accounting policies, the following may involve a higher degree of judgment and complexity:

Long-Lived Assets

We periodically evaluate whether events and circumstances have occurred that may warrant revision of the estimated useful life of property and equipment or whether the remaining balance of property and equipment, or other long-lived assets should be evaluated for possible impairment. Instances that may lead to an impairment include: (i) a significant decrease in the market price of a long-lived asset group; (ii) a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; (iii) a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; (iv) an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; (v) a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; or (vi) a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life.

Upon recognition of an event, as previously described, we use an estimate of the related undiscounted cash flows, excluding interest, over the remaining life of the property and equipment and long-lived assets in assessing their recoverability. We measure impairment loss as the amount by which the carrying amount of the asset(s) exceeds the fair value of the asset(s). We primarily employ two methodologies for determining the fair value of a long-lived asset: (i) the amount at which the asset could be bought or sold in a current transaction between willing parties; or (ii) the present value of expected future cash flows grouped at the lowest level for which there are identifiable independent cash flows.

Beneficial Conversion Features

The intrinsic value of a beneficial conversion feature inherent to a convertible note payable, which is not bifurcated and accounted for separately from the convertible note payable and may not be settled in cash upon conversion, is treated as a discount to the convertible note payable. This discount is amortized over the period from the date of issuance to the date the note is due using the effective interest method. If the note payable is retired prior to the end of its contractual term, the unamortized discount is expensed in the period of retirement to interest expense. In general, the beneficial conversion feature is measured by comparing the effective conversion price, after considering the relative fair value of detachable instruments included in the financing transaction, if any, to the fair value of the common shares at the commitment date to be received upon conversion. 

 
18

 
 
Accounting for Income Taxes

We use the asset and liability method to account for income taxes. Significant management judgment is required in determining the provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against net deferred tax assets. In preparing the Condensed Consolidated Financial Statements, we are required to estimate income taxes in each of the jurisdictions in which we operate. This process involves estimating the actual current tax liability together with assessing temporary differences resulting from differing treatment of items, such as deferred revenue, depreciation on property, plant and equipment, intangible assets, goodwill and losses for tax and accounting purposes. These differences result in deferred tax assets, which include tax loss carry-forwards, and liabilities, which are included within the Condensed Consolidated Balance Sheet. We then assess the likelihood that deferred tax assets will be recovered from future taxable income, and to the extent that recovery is not likely or there is insufficient operating history, a valuation allowance is established. To the extent a valuation allowance is established or increased in a period, we include an expense within the tax provision of the Condensed Consolidated Statements of Operations. As of December 31, 2011 and June 30, 2011, the Company has established a full valuation allowance for all deferred tax assets.

As of December 31, 2011 and June 30, 2011, we did not recognize any assets or liabilities relative to uncertain tax positions, nor do we anticipate any significant unrecognized tax benefits will be recorded during the next 12 months.  Any interest or penalties related to unrecognized tax benefits is recognized in income tax expense. Since there are no unrecognized tax benefits as a result of tax positions taken, there are no accrued penalties or interest.

Operating Results

The following table summarizes our operating results for the periods presented below:
 
                           
Period from
 
                           
August 22,
 
                           
2008
 
   
Three Months Ended
   
Six Months Ended
   
(Inception) to
 
   
December 31,
   
December 31,
   
December 31,
 
   
2011
   
2010
   
2011
   
2010
   
2011
 
                               
Revenue
  $ 17,367     $ -     $ 28,200     $ -     $ 37,360  
Cost of products sold
    4,995       -       7,843       -       13,229  
                                         
Gross profit
    12,372       -       20,357       -       24,131  
                                         
Operating expenses:
                                       
Professional fees
    109,224       161,570       170,203       236,672       933,811  
Salaries and wages
    28,014       48,760       63,528       48,760       162,266  
Licensing fees
    -       15,000       -       79,130       89,130  
General and administrative
    18,520       14,592       39,190       29,920       149,719  
Marketing
    17,921       6,263       33,897       18,013       93,423  
Expense of reverse merger
    -       -       -       -       620,040  
                                         
Total operating expenses
    173,679       246,185       306,818       412,495       2,048,389  
                                         
Loss from operations
  $ (161,307 )   $ (246,185 )   $ (286,461 )   $ (412,495 )   $ (2,024,258 )
We are a development stage enterprise for the periods presented above and accordingly, have not recognized significant revenues from our planned business to December 31, 2011.
 
Professional fees were $109,224 and $161,570 for the three months ended December 31, 2011 and 2010, respectively, $170,203 and $236,672 for the six months ended December 31, 2011 and 2010, respectively, and $933,811 for the period from August 22, 2008 (inception) to December 31, 2011.  Professional fees include fees incurred for certain of our officers of approximately $80,000 and $125,000 for the three months ended December 31, 2011 and 2010, respectively, $128,000 and $194,000 for the six months ended December 31, 2011 and 2010, respectively, and $660,000 for the period from August 22, 2008 (inception) to December 31, 2011.  Also included in professional fees are legal, accounting and auditing fees.
 
 
19

 
 
Salaries and wages totaled $28,014 and $48,760 for the three months ended December 31, 2011 and 2010, respectively, $63,528 and $48,760 for the six months ended December 31, 2011 and 2010, respectively, and $162,266 for the period from August 22, 2008 (inception) to December 31, 2011.  Salaries and wages represent amounts paid or accrued to officers and other employees, which commenced during the second quarter of fiscal 2011 as we began to hire staff in the anticipation of executing our business plan.

Licensing fees were nil and $15,000 for the three months ended December 31, 2011 and 2010, respectively, nil and $79,130 for the six months ended December 31, 2011 and 2010, respectively, and $89,130 for the period from August 22, 2008 (inception) to December 31, 2011.  Licensing fees relate to the use of a database to support the consumer offer calculator on our website.

General and administrative expense was $18,520 and $14,592 for the three months ended December 31, 2011 and 2010, respectively, $39,190 and $29,920 for the six months ended December 31, 2011 and 2010, respectively, and $149,719 for the period from August 22, 2008 (inception) to December 31, 2011.  These expenses primarily consist of facility rent, travel, computer, network and internet costs.

Marketing expense was $17,921 and $6,263 for the three months ended December 31, 2011 and 2010, respectively, $33,897 and $18,013 for the six months ended December 31, 2011 and 2010, respectively, and $93,423 for the period from August 22, 2008 (inception) to December 31, 2011.  Marketing related costs relate primarily to events, marketing collateral, press releases and other public relations efforts.

As described above, during March 2010, we completed a reverse merger transaction.  We incurred $125,000 of cash based expense for this transaction, of which $37,500 remains to be paid as of September 30, 2011, in addition to recording $495,040 for shares issued in connection with this transaction.

We recognized other expense of $6,365 and $5,145 for the three months ended December 31, 2011 and 2010, respectively, $24,260 and $1,682 for the six months ended December 31, 2011 and 2010, respectively, and $108,898 for the period from August 22, 2008 (inception) to December 31, 2011.  Since inception, other expense primarily relates to interest expense of $143,071, which relates to:  (i) $50,000 for the amortization of deferred financing costs; (ii) $13,681 for interest on convertible notes that were converted prior to the reverse merger on March 30, 2010; and (iii) interest on convertible notes that were issued subsequent to the reverse merger and the amortization of discounts associated with some of these notes.  Other income relates to interest income, which is primarily associated with advances previously made to Feature Marketing.

We anticipate that the execution of our business plan will result in a rapid expansion of our operations, which may place a significant strain on our management, financial and other resources.  Youchange’s ability to manage the challenges associated with the expansion of our business and integration of future acquisitions, if any, will depend, among other things, on our ability to monitor operations, control costs, maintain effective quality control, secure necessary marketing arrangements, expand internal management, implement technical information and accounting systems and attract, assimilate and retain qualified management and other personnel. If we fail to effectively manage these issues, we may not be profitable in the near future, or ever.

The difficulties in managing these various business issues will be compounded by a number of unique attributes of our anticipated business operations and business strategy.  Should these and other concepts not perform as expected, youchange’s financial condition and the results of our operations could be materially and adversely affected.

Liquidity and Capital Resources

As of December 31, 2011, we had $5,269 of cash and cash equivalents and a working capital deficit of approximately $231,032.  Over the next twelve months we estimate in order to maintain reporting company status as defined under the Securities Exchange Act of 1934, we will require cash for expenses, which include accounting, legal and other professional fees, as well as filing fees.  We must raise cash to cover these expenses and implement our business plan.  In addition to the amounts raised through the financing transactions discussed below, we estimate that we will need to raise approximately $0.5 million to continue our proposed business and maintain our status as a reporting company for the next 90 to 120 days.


 
20

 

The Company’s ability to commence operations is entirely dependent upon the proceeds to be raised.  If we do not raise at least $1.0 million, we will be unable to establish a base of operations, without which we will be unable to execute our current business plan.  The Company will need to raise additional capital by issuing capital stock, notes payable or a combination of both, in exchange for cash in order to continue as a going concern.  Subsequent to the reverse merger transaction in March 2010 to the date of this filing, we raised a total of $593,000, which is described in further detail below. We cannot assure any investor that, if needed, sufficient financing can be obtained or, if obtained, that it will be on reasonable terms. Without realization of additional capital, it would be unlikely that operations would continue and any investment made by an investor would be lost in its entirety.

Although we have taken steps to focus our business on the GreenTech and eWaste sectors, we currently have no ability to fund the development and implementation of our business plan.  As is typical of companies going through the development stage, we currently have minimal revenue.   This raises substantial doubt about the Company’s ability to continue as a going concern. We expect to rely on external sources of capital through the issuance of debt and/or equity securities in private placement offerings to provide funding of our business.  We expect to initiate such actions to obtain additional capital to fund our business, however, no assurances can be made that we will be successful in obtaining additional funding on terms and conditions that are acceptable to us.

If youchange acquires its needed funding through the issuance of our equity securities, our existing shareholders may experience dilution and the value of their equity securities may decline.  The acquisition of funding through the issuance of debt could result in a substantial portion of our future cash flow from operations being dedicated to the payment of principal and interest on that indebtedness, and could render us more vulnerable to competitive pressures and economic downturns.

We will require capital for key near-term milestones of our business, which we currently believe to include:

 
·
Acquiring or developing strategic relationships with recyclers and refurbishment centers in Phoenix, Arizona.
 
 
 
 
·
Completing certain key modules of eTS and identifying pilot locations as drop-off locations and recyclers and/or refurbishment centers.
     
 
·
Expanding collection events that are hosted by local businesses, schools and sports teams.
     
 
·
Expanding the youchange “GREEN Ambassadors” program, which we expect will allow us to expand our collection events by recruiting “Ambassadors” to host events that benefit their organizations and collect electronics for youchange.
     
 
·
Researching collection methods and equipment to develop permanent drop-off locations with local retailers.
     
 
·
Adding a national partner to have all mail-in online transactions sent directly to a partner in locations covering all of the United States.
     
 
·
Replication of the Phoenix, Arizona youchange model in other cities in the United States once the model is proven in this market.
     
Subsequent to the reverse merger transaction in March 2010, we raised a total of $593,000 through the following transactions:

 
·
During July 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured on January 19, 2011 and bears interest at a rate of 12.0% per annum.  The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share.  During July 2011, this convertible note, plus $3,178 of accrued interest, was converted to 112,713 common shares.
     
 
·
During August 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured on February 6, 2011 and bears interest at 12.0% per annum.  The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. During July 2011, this convertible note, plus $2,999 of accrued interest, was converted to 111,996 common shares.

 
21

 
 
 
·
During September 2010, we issued a $22,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and bears interest at a rate of 8.0% per annum. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. During June 2011, this convertible note, plus $1,247 of accrued interest, was converted to 92,983  common shares.
     
 
·
During September 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured 61 days from the date of issue and bears interest at a rate of 8.0% per annum. The Company had the right to extend the maturity of this note an additional 30 days. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share.  During July 2011 this convertible note, plus $2,083 of accrued interest, was converted to 108,332 shares.
     
 
·
During October 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. During June 2011, this convertible note, plus $1,250 of accrued interest, was converted to 87,500 common shares.
     
 
·
During November 2010, we issued a $13,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. During June 2011, this convertible note, plus $580 of accrued interest, was converted to 45,268 common shares.
     
 
·
During December 2010, we issued an $8,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. During June 2011, this convertible note, plus $320 of accrued interest, was converted to 27,735 common shares.
     
 
·
During December 2010, we issued a $90,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note is secured by all of the assets of the Company, matures two years from the date of issuance and may be accelerated if the Company raises $1.0 million in private financing before the maturity date.  The note bears interest at a rate of 12.0% per annum and is convertible at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Unpaid accrued interest is convertible at any time, at the discretion of the investor, to shares of our common stock, with the conversion rate equal to the average closing price of our common stock for the ten days preceding the such conversion. During January 2011, this convertible note, plus $600 of accrued interest, was converted to 362,400 common shares.
     
 
·
During March 2011, we raised $25,000 under a convertible note with the spouse of an officer of YouChange, Inc.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. During July 2011 this convertible note, plus $824 of accrued interest, was converted to 103,296 shares.
     
 
·
During March 2011, we raised $250,000 through the sale of 1,000,000 common shares in a private placement transaction with an accredited investor at a sales price of $0.25 per common share.
     
 
·
During August 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share.


 
22

 
 
 
·
During October 2011, we issued a $10,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures three months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. This note has not been repaid as of the date of this filing, and is accordingly currently in default.
     
 
·
During November 2011, we issued a $25,000 note payable with an unrelated, accredited third party in exchange for cash.  The note matures 60 days from the date of issuance and bears interest at a rate of 10.0% per annum with an increase to 12.0% per annum following the maturity date.  This note has not been repaid as of the date of this filing, and is accordingly currently in default.
     
 
·
During December 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures six months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note.

Until such time, if at all, as we receive adequate funding, we intend to defer payment of all other obligations that are capable of being deferred.  Such deferment has resulted in the past, and may result in the future, in some vendors demanding cash payment for their goods and services in advance, and other vendors refusing to continue to do business with us, which may adversely affect our ability to obtain goods and services in the future, or to do so on favorable terms.

Cash Flows

The following discussion relates to the major components of our cash flows:

Cash Flows from Operating Activities

Cash used in operating activities was $145,495 and $138,526 for the six months ended December 31, 2011 and 2010, respectively, and $798,119 for the period from August 22, 2008 (inception) to December 31, 2011.  Cash used in operating activities primarily relates to payments for professional fees and general and administrative costs.  We expect our operating activities will require additional cash in the future as we commence our planned operations.

Cash Flows from Investing Activities

Cash used in investing activities was $28,500 and $89,400 for the six months ended December 31, 2011 and 2010, respectively, and $359,915 for the period from August 22, 2008 (inception) to December 31, 2011.  Cash used in investing activities for the six months ended December 31, 2011 primarily relates to cash used for the development of our proprietary business platform. Cash used in investing activities for the six months ended December 31, 2010 primarily relates to cash used for the development of our proprietary business platform  and cash used for advances to Feature Marketing, which is described more fully above. Cash used in investing activities for the period from August 22, 2010 (inception) to December 31, 2011 also includes cash used for our reverse merger transaction in March 2010, which is discussed more fully above.

Cash Flows from Financing Activities

Cash provided by financing activities was $113,000 and $233,000 for the six months ended December 31, 2011 and 2010, respectively, and $1,163,303 for the period from August 22, 2008 (inception) to December 31, 2011.  Cash provided by financing activities for the six months ended December 31, 2011 and 2010 primarily relates to various convertible and non-convertible note agreements entered into, which are described further above.  Cash provided by financing activities for the period from August 22, 2010 (inception) to December 31, 2011 primarily relates to the activities described above, as well as sales of our common stock and other borrowings from related parties.


 
23

 

Recently Issued Accounting Pronouncements

During September 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-08, “Testing Goodwill for Impairment” (“ASU 2011-08”). ASU 2011-08 is intended to simplify the testing of goodwill for impairment by permitting an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test, which is currently required for all companies that report goodwill. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, although early adoption is permitted. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.

During June 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-05, “Presentation of Comprehensive Income” (“ASU 2011-05”).  ASU 2011-05 provides for the option to present the total of comprehensive income, the components of net income and the components of other comprehensive income (“OCI”) either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Regardless of which format is chosen, the amendments establish a requirement for entities to present on the face of the financial statements reclassification adjustments for items that are reclassified from OCI to net income in the statement(s) where the components of net income and the components of OCI are presented. The amendments in ASU 2011-05 are effective, on a retrospective basis, for public entities for interim and annual periods beginning after December 15, 2011; however, during December 2011 the FASB issued ASU No. 2011-12, which defers those changes in ASU 2011-05 that relate to the presentation of reclassification adjustments. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.

During May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASC 2011-04”).  The amendments in ASC 2011-04 were issued in order to align the fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards.  Consequently, the amendments change the wording used to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements.  However, many of the amendments in ASC 2011-04 will not result in a change in the application of the requirements in ASC 820, Fair Value Measurement. The amendments in ASU 2011-04 are effective, on a prospective basis, for public entities for interim and annual periods beginning after December 15, 2011, and for nonpublic entities for annual periods beginning after December 15, 2011. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.

Off-Balance Sheet Financing

We have no off-balance sheet debt or similar obligations. We have no transactions or obligations with related parties that are not disclosed, consolidated into or reflected in our reported results of operations or financial position. We do not guarantee any third-party debt.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4.  Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) are designed to provide a reasonable assurance that the information required to be disclosed by us in this quarterly report on Form 10-Q was (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and regulations and (ii) accumulated and communicated to our management, being the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.


 
24

 

Based on their evaluation as of December 31, 2011, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective at providing a reasonable assurance that the information required to be disclosed by us in this quarterly report on Form 10-Q meets the objective of being (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and regulations and (ii) accumulated and communicated to our management to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting or in other factors that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting in our most recent fiscal quarter.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

There have been no material changes in risk factors previously disclosed in our Form 10-K for the year ended June 30, 2011.
 
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities
 
On January 1, 2010, Youchange, Inc. entered into a $75,000 note payable agreement with the previous shareholders of BSFG, which, together with a $50,000 cash payment and the issuance of 1,456,000 common shares following the reverse merger, was used to complete the reverse merger with BSFG. The payable was due in two equal installments, which were due on April 1, 2010 and June 30, 2010.  The first payment of $37,500 was paid when due on April 1, 2010; however, we have not made the second payment as of the date of this filing.  We have received a verbal waiver of the default from the note holders.
 
During October 2011, we issued a $10,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures three months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. This note has not been repaid as of the date of this filing, and is accordingly currently in default.
 
During November 2011, we issued a $25,000 note payable with an unrelated, accredited third party in exchange for cash.  The note matures 60 days from the date of issuance and bears interest at a rate of 10.0% per annum with an increase to 12.0% per annum following the maturity date.  This note has not been repaid as of the date of this filing, and is accordingly currently in default.
 
Item 4. Removed and Reserved

Item 5. Other Information

None.


 
25

 


Item 6. Exhibits

 
    No.
 Exhibit
 
 
 
 
31.1
8650 Section 302 Certification of Chief Executive Officer
 
31.2
8650 Section 302 Certification of Chief Financial Officer
 
32.1
Certification Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of  2002
 
101.ins
XBRL Instance
 
101.xsd
XBRL Schema
 
101.cal
XBRL Calculation
 
101.def
XBRL Defnition
 
101.lab
XBRL Label
 
101.pre
XBRL Presentation

 
26

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
YOUCHANGE HOLDINGS CORP
     
Date: February 14, 2012
   
     
 
By:
/s/ JEFFREY I. RASSÁS
   
Jeffrey I. Rassás
   
Chief Executive Officer and Director
     
 
By:
/s/ RICHARD A. PAPWORTH
   
Richard A. Papworth
   
Chief Financial Officer and Director



EX-31.1 2 ex31-1.htm 8650 SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER ex31-1.htm


EXHIBIT 31.1

CERTIFICATION OF
JEFFREY I. RASSÁS, CHIEF EXECUTIVE OFFICER

I, Jeffrey I. Rassás, certify that:

1. I have reviewed this quarterly report on Form 10-Q of YouChange Holdings Corp;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 
/s/  Jeffrey I. Rassás
 
 
Jeffrey I. Rassás
 
 
Chief Executive Officer
 

Date: February 14, 2012
 

EX-31.2 3 ex31-2.htm 8650 SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER ex31-2.htm


EXHIBIT 31.2

CERTIFICATION OF
RICHARD A. PAPWORTH, EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER
AND PRINCIPAL ACCOUNTING OFFICER

I, Richard A. Papworth, certify that:

1. I have reviewed this quarterly report on Form 10-Q of YouChange Holdings Corp;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 
/s/  Richard A. Papworth
 
 
Richard A. Papworth
 
 
Chief Financial Officer and
 
 
Principal Accounting Officer
 


Date: February 14, 2012

 

EX-32.1 4 ex32-1.htm CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 ex32-1.htm


EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE U.S. SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of YouChange Holdings Corp (the “Company”) on Form 10-Q for the quarter ended December 31, 2011, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), we, Jeffrey I. Rassás, Chief Executive Officer, and Richard A. Papworth, Chief Financial Officer and Principal Accounting Officer certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the U.S. Sarbanes-Oxley Act of 2002, that to the best of our knowledge:

(i) the Report fully complies with the requirements of section 13(a) or 15(d) of the U.S. Securities Exchange Act of 1934; and

(ii) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
     
 
/s/  Jeffrey I. Rassás
 
 
Jeffrey I. Rassás
 
 
Chief Executive Officer
 
     
 
/s/  Richard A. Papworth
 
 
Richard A. Papworth
 
 
Chief Financial Officer and
 
 
Principal Accounting Officer
 

February 14, 2012

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as a part of this report or on a separate disclosure document.
 
 

EX-101.INS 5 ycng-20111231.xml XBRL INSTANCE 10-Q 2011-12-31 false YouChange Holdings Corp 0001442236 --06-30 Smaller Reporting Company Yes No No 2012 Q2 38930605 5269 66264 100 3522 17117 14541 22486 84327 95875 96875 3465 4065 158150 128650 7370 6500 287346 320417 148350 63212 1542 8945 65500 37500 25000 13126 75000 253518 184657 25000 4271 278518 188928 39006 38426 2129228 1941748 26250 26250 2133156 1822435 8828 131489 287346 320417 20729 0.001 0.001 60000000 60000000 39005605 38426227 38930605 38351227 75000 75000 17367 28200 37360 4995 7843 13229 12372 20357 24131 109224 161570 170203 236672 933811 28014 48760 63528 48760 162266 15000 79130 89130 18520 14592 39190 29920 149719 17921 6263 33897 18013 93423 620040 173679 246185 306818 412495 2048389 -161307 -246185 -286461 -412495 -2024258 3300 4050 6600 8628 34173 9665 9195 30860 10310 143071 -6365 -5145 -24260 -1682 -108898 -167672 -251330 -310721 -414177 -2133156 -0.01 -0.01 -0.01 38930605 36059954 38843240 35935506 38930605 36059954 38843240 35935506 1000 1000 1000000 -67103 -67103 1000 -67103 -66103 1000000 4000 4000 4000000 1500 1000 2500 1500000 683 512998 513681 683197 26767 59546 86313 26766391 1456 493584 495040 1456000 -1000057 -1000057 35406 1067128 -1067160 35374 35405588 1000 249000 250000 1000000 1404 407922 409326 1404753 616 161381 161997 615886 56317 56317 26250 26250 -755275 -755275 38426 1941748 -26250 -1822435 38426227 143 48634 48777 143041 30199 30199 437 108647 109084 436337 -310721 39006 2129228 -26250 -2133156 39005605 29054 5958 114642 600 600 1800 292246 458103 13681 125000 495040 -3422 100 3446 8723 35112 85138 -14430 147360 1681 14623 -145495 -138526 -798119 29500 49400 158150 40000 110000 1000 1000 5265 87500 -28500 -89400 -359915 60000 233000 318000 535000 35500 124492 255000 10000 7500 9189 50000 113000 233000 1163303 -60995 5074 5269 44309 49383 <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">1.&nbsp;&nbsp;Organization of Business and Basis of Presentation</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">On March 30, 2010, Youchange, Inc. and BlueStar Financial Group, Inc. (&#147;BSFG&#148;), a Nevada corporation and publicly traded shell company at such time, completed a merger transaction (referred to as the &#147;reverse merger&#148; throughout this filing), which is described in further detail below, and resulted in Youchange, Inc. shareholders obtaining control of BSFG. The surviving publicly traded entity following the reverse merger transaction changed its name to &#147;YouChange Holdings Corp&#148; during May 2010.&nbsp; The terms &#147;youchange&#148;, &#147;we&#148;, &#147;us&#148;, &#147;our&#148; or the &#147;Company&#148; refer to YouChange Holdings Corp and its consolidated subsidiary, Youchange, Inc., following the date of the merger transaction, and to Youchange, Inc. prior to the date of the reverse merger transaction. All significant intercompany balances and transactions are eliminated in consolidation. Our fiscal year end is June 30.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction, and consequently the assets and liabilities and the historical operations reflected in these condensed consolidated financial statements are those of Youchange, Inc. and are recorded at the historical cost basis of Youchange, Inc.&nbsp;&nbsp;All shares and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of Youchange.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">We were organized as a software and services venture in the Green Technology (&#147;GreenTech&#148;) sector to develop a leading social movement to focus on the elimination of electronic waste (&#147;eWaste&#148;) in the United States, which includes any used, obsolete end-of-life consumer electronics and computer devices.&nbsp;&nbsp;The GreenTech sector is a recognized business sector also known as Environmental Technology or &#147;Envirotech&#148;.&nbsp;&nbsp;Companies in this sector apply environmental science in an effort to help conserve the environment and choose business approaches that are environmentally and economically sustainable.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company&#146;s software includes a destination website, www.youchange.com, where users can join and refer friends to learn about the problem of electronic waste through content, blogs and forums.&nbsp;&nbsp;Site members are encouraged to take action through the turn-over and sale of their end-of-life, used or obsolete electronics, which reduces the risk of adding to the waste stream.&nbsp;&nbsp;Members access the youchange calculator and offer database through www.youchange.com and by answering a series of questions, may receive a real-time cash and/or reward points offer. Initially, reward points collected by members may be used to exchange for other items&nbsp;&nbsp;in the &#147;Shop Green&#148; area of the youchange.com website, which is an online marketplace where points can be exchanged for product. In addition to the youchange.com website, users can join and learn about local events and electronic collection drives through youchange Facebook, Twitter and Linked-In social media pages.&nbsp;&nbsp;The local electronic collection events play an important part of the youchange strategy and are done in partnership with local sports teams, businesses, individuals, schools and charity groups.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Youchange is developing an electronic Tracking System (&#147;eTS&#148;) to provide asset receiving, refurbishment and disposal recycling tracking through the complete handling cycle of all electronics collected.&nbsp;&nbsp;In addition, the website and the eTS are expected to allow business to business activity. Businesses can dispose of excess electronics in bulk. The eTS is expected to extend past the website and electronic pricing and rewards calculator previously launched through youchange.com and is intended to be used by local retailers, electronic refurbishment centers and recyclers that may partner with youchange.&nbsp;&nbsp;Youchange intends on generating revenue through the refurbishment, resale (&#147;reCommerce&#148;) and recycling of the electronics collected, facilitating the sustainability objectives by extending the lifecycle of these items and keeping such items from the electronic waste stream.&nbsp;&nbsp;Once developed and launched, the youchange eTS is expected to become part of a system that will allow youchange to establish a reCommerce business without an investment in bricks and mortar by partnering with, and charging a management fee to, local retailers, electronic refurbishment centers and recyclers.</font><br></br>&nbsp; </div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company has realized minimal revenues from its planned business purpose to the date of this filing and currently has limited operations.&nbsp;&nbsp;Accordingly, the Company is considered to be in the development stage. The Company has been in the development stage since its formation.&nbsp;&nbsp;The Company has devoted its efforts to business planning and development and has allocated a substantial portion of its time and investment in bringing its product to the market and raising capital.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25">&nbsp;&nbsp;</div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">These Unaudited Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the &#147;SEC&#148;). All significant intercompany transactions and accounts have been eliminated. Certain information related to our organization, significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (&#147;GAAP&#148;) has been condensed or omitted. The accounting policies followed in the preparation of these Unaudited Condensed Consolidated Financial Statements are consistent with those followed in our annual consolidated financial statements for the year ended June 30, 2011, as filed on Form 10-K. In the opinion of management, these Unaudited Condensed Consolidated Financial Statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to fairly state our financial position, results of operations and cash flows for the periods presented and the presentations and disclosures herein are adequate when read in conjunction with our Form 10-K for the year ended June 30, 2011. Certain reclassifications have been made to the prior period financial statement amounts to conform to the current presentation.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The preparation of financial statements in conformity with accounting principles generally accepted in the United States (&#147;GAAP&#148;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include carrying amounts of long-lived assets and advances to Feature Marketing, deferred financing costs and deferred taxes.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Basic earnings (loss) per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.&nbsp;&nbsp;Diluted earnings (loss)&nbsp;per share is calculated based on the weighted average shares of Common Stock outstanding during the period plus the dilutive effect of outstanding Common Stock purchase warrants and stock options using the treasury stock method and the dilutive effects of convertible securities using the if-converted method. Basic and diluted loss per share were the same for all periods reported due to the net losses attributable to common shareholders for all periods reported. As of December 31, 2011, we had convertible notes payable outstanding that, with accrued interest, were convertible into approximately 227,500 common shares.&nbsp;&nbsp;As of December 31, 2011, the conversion ratio for these notes was lower than our closing stock price.&nbsp;&nbsp;These convertible notes payable are described in more detail in Note 7.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold; FONT-STYLE:italic">Reverse Merger with BSFG</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">On March 15, 2010, BSFG and its wholly owned subsidiary BlueStar Acquisition Corporation (&#147;Merger Sub&#148;) entered into an Agreement and Plan of Merger&nbsp;&nbsp;(the &#147;Merger Agreement&#148;) with Youchange, Inc. The Merger Agreement and the acquisition agreed to therein was closed on March 30, 2010.&nbsp;&nbsp;At the closing of the reverse merger, Youchange, Inc. merged into Merger Sub, with Youchange, Inc. as the surviving entity.&nbsp;At the time the Merger Agreement was executed, Jeffrey Rass&#225;s and Richard Papworth, currently our Chief Executive Officer and Chief Financial Officer, respectively, and directors of the Company, were directors and officers of both BSFG and Youchange, Inc. BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange Inc. from Youchange Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.&nbsp;&nbsp;Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.&nbsp;&nbsp;These figures included 2,049,591 shares of BSFG Common Stock issued to the former note holders of Youchange, Inc. whereby the $500,000 principal amount of secured convertible promissory notes plus accrued interest of $13,681 was converted into 683,197 shares of Youchange, Inc. common stock immediately prior to the reverse merger. As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. Additionally, following the completion of the reverse merger, we issued 1,456,000 shares of our common stock to the sellers of BSFG.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold; FONT-STYLE:italic">Going Concern</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company's financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and allow it to continue as a going concern.&nbsp;&nbsp;The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.&nbsp;&nbsp;If the Company is unable to obtain adequate capital, it could be forced to cease operations.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"> </div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">In order to continue as a going concern, the Company will need, among other things, additional capital resources.&nbsp;&nbsp;Management's plans to obtain such resources for the Company include (i) obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses; (ii) obtaining funding from outside sources through the sale of its debt and/or equity securities; and (iii) as a last resort, seeking out and completing a merger with another company. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attaining profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold; FONT-STYLE:italic">Recently Issued Accounting Pronouncements</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During September 2011, the Financial Accounting Standards Board (&#147;FASB&#148;) issued Accounting Standards Update (&#147;ASU&#148;) No. 2011-08, &#147;Testing Goodwill for Impairment&#148; (&#147;ASU 2011-08&#148;). ASU 2011-08 is intended to simplify the testing of goodwill for impairment by permitting an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test, which is currently required for all companies that report goodwill. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, although early adoption is permitted. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During June 2011, the FASB issued ASU No. 2011-05, &#147;Presentation of Comprehensive Income&#148; (&#147;ASU 2011-05&#148;).&nbsp;&nbsp;ASU 2011-05 provides for the option to present the total of comprehensive income, the components of net income and the components of other comprehensive income (&#147;OCI&#148;) either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Regardless of which format is chosen, the amendments establish a requirement for entities to present on the face of the financial statements reclassification adjustments for items that are reclassified from OCI to net income in the statement(s) where the components of net income and the components of OCI are presented. The amendments in ASU 2011-05 are effective, on a retrospective basis, for public entities for interim and annual periods beginning after December 15, 2011; however, during December 2011 the FASB issued ASU No. 2011-12, which defers those changes in ASU 2011-05 that relate to the presentation of reclassification adjustments. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During May 2011, the FASB issued ASU No. 2011-04, &#147;Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs&#148; (&#147;ASC 2011-04&#148;).&nbsp;&nbsp;The amendments in ASC 2011-04 were issued in order to align the fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards.&nbsp;&nbsp;Consequently, the amendments change the wording used to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements.&nbsp;&nbsp;However, many of the amendments in ASC 2011-04 will not result in a change in the application of the requirements in ASC 820, Fair Value Measurement. The amendments in ASU 2011-04 are effective, on a prospective basis, for public entities for interim and annual periods beginning after December 15, 2011, and for nonpublic entities for annual periods beginning after December 15, 2011. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.</font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">2. Feature Marketing Acquisition</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Effective December 31, 2010, we entered into a Share Exchange Agreement (the "Exchange Agreement") with Feature Marketing, Inc. (&#147;Feature Marketing&#148;) an Arizona corporation.&nbsp;&nbsp;The Exchange Agreement provided for the acquisition of all issued and outstanding shares of Feature Marketing in exchange for 3,030,303 shares of our common stock and $200,000 of cash. Feature Marketing owns and operates a computer and consumer electronics refurbishment center based in Scottsdale, Arizona, which we intended to integrate with our planned operations.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25">&nbsp;</div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Subsequent to the completion of the acquisition, on February 25, 2011, the Company and Feature Marketing entered into a Rescission Agreement that provided for the rescission of the acquisition as of December 31, 2010, so that from an economic standpoint, the acquisition never occurred and all applicable shares were never exchanged. Accordingly, the financial position and results of Feature Marketing have not been, and are never expected to be, consolidated with those of the Company. The Company believes the rescission of this transaction was in its best interests based on the discovery of a mutual mistake and impossibility to perform under the agreement, which was not contemplated by either party.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company executed a non-exclusive fulfillment agreement with Feature Marketing on March 29, 2011.&nbsp;&nbsp;Under the terms of the fulfillment agreement, Feature Marketing will provide receiving, refurbishment, shipping and storage services and&nbsp;&nbsp;repay the amounts previously advanced towards the acquisition discussed above.&nbsp;&nbsp;As of December 31, 2011 and June 30, 2011 advances outstanding totaled approximately $96,000 and $97,000, respectively, which are secured by the assets of Feature Marketing and are supported by a promissory note from Feature Marketing.&nbsp;&nbsp;These advances bear interest at a rate of 24.0% per annum.&nbsp;&nbsp;We have recognized interest income totaling approximately $34,000 relative to these advances for the period from August 22, 2008 (inception) to December 31, 2011.&nbsp;&nbsp;During June 2011, Feature Marketing returned 75,000 common shares it had previously owned, in exchange for a reduction of amounts due us of approximately $26,000, which was the fair value of the shares at the time they were returned.&nbsp;&nbsp;These shares have been accounted for as treasury stock.&nbsp;&nbsp;As of December 31, 2011 and June 30, 2011, management believes all outstanding advances to Feature Marketing, and interest on such advances, will be fully realized and accordingly, has not provided for any allowance for these balances as of such dates.</font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold">3. Common Stock</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Our authorized common stock consists of 60,000,000 shares of common stock with a par value of $.001. The following summarizes our common stock activity for the period from August 22, 2008 (inception) to the completion of the reverse merger on March 30, 2010:</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div><table width="100%" cellpadding="0" cellspacing="0"><tr><td width="2%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif"></font>&#160;</div></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Upon formation on August 22, 2008, Youchange, Inc. issued 1,000,000 of its common shares to its founder and Chief Executive Officer, Jeffrey Rass&#225;s, in exchange for $1,000.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif"></font>&#160;</div></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During fiscal 2010, Youchange, Inc. issued an additional 4,000,000 of its common shares to unrelated entities in exchange for $4,000 (except for 40,000 of these shares, which were issued to an officer / director).</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif"></font>&#160;</div></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During fiscal 2010, Youchange, Inc. issued 1,500,000 shares of its common stock to Mr. Rass&#225;s in exchange for certain intangible assets related to the youchange.com domain. This transaction was valued at $2,500.&#160;&#160;Although it may require renewal from time-to-time, this intangible asset has an indefinite life and accordingly is not being amortized.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif"></font>&#160;</div></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During fiscal 2010, Youchange, Inc. issued 683,197 shares of its common stock upon conversion of $500,000 in convertible notes plus $13,681 of unpaid accrued interest.</font></div></td></tr></table></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">As described in more detail above, on March 30, 2010, BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange, Inc. from Youchange, Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.&#160;&#160;Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">In conjunction with the reverse merger, the Company issued 1,456,000 shares of its common stock as partial compensation for the purchase of the BSFG.&#160;&#160;The shares were valued at $0.34 per share, which was the closing stock price on March 30, 2010.&#160;&#160;The total fair value of these common shares of $495,040 was expensed as an acquisition cost.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25">&#160;</div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During fiscal 2011, we issued common shares for the following transactions:</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div><table width="100%" cellpadding="0" cellspacing="0"><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During July 2010, we entered into a one-year consulting agreement with Naser Ahmad through NOMA Enterprises, LLC to provide services as Chief Technology Officer of Youchange, Inc., and issued 333,333 shares of our common stock as compensation for such services. The term of this agreement is from January 1, 2010 to December 31, 2010. As of June 30, 2010, we had accrued $60,000 of compensation expense, which was paid by way of the issuance of one half of these shares.&#160;&#160;We recognized the remaining $33,333 of expense during July 2010 for the 333,333 total shares issued, which was recorded as professional fees. The consulting agreement has not been renewed as of the date of this filing; however, Mr. Ahmad has continued to provide services to the Company on a month-to-month basis for $10,000 per month, and we issued an additional 142,528 common shares during June 2011 as compensation for the six months ended June 30, 2011.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During July 2010, we entered into a licensing agreement with a strategic partner for access to a database for pricing of used consumer electronic goods.&#160; We issued 193,322 shares of common stock upon the execution of this agreement and were required to pay $35,000 over the first year of the agreement, and under the original terms, were required to pay $63,000 over the second year of the agreement and issue additional common shares valued at $30,000 as payment for the second year of the agreement. After the one year anniversary of this agreement, we have agreed to terminate the provisions and terms of the second year and negotiate a new agreement that is more conducive to the current economic status and needs of the Company.&#160;&#160;Until such time as the new terms have been reached, the strategic partner has agreed to continue providing access to the pricing database. We expensed $54,130 as general and administrative expense for the issuance of the 193,322 shares of common stock during July 2010.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During December 2010, we entered into a one year consulting agreement with Mary Juetten, through Protect your Intellectual Property (PIP), LLC to provide services as Chief Operating Officer of Youchange, Inc. The term of this agreement is from October 1, 2010 to September 30, 2011.&#160;&#160;During fiscal 2011, we issued a total of 625,625 shares of our common stock as compensation for services and recognized $160,250 of expense for the issuance of these shares, which was recorded as professional fees.&#160;&#160;Additionally, we recognized expense of approximately $18,000 for cash-based consideration paid to Ms. Juetten&#8217;s for her services as Chief Operating Officer of Youchange, Inc, which is also recorded as professional fees.&#160;&#160;During the first quarter of fiscal 2012, Ms. Juetten resigned from her position with the Company.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During March 2011, we raised $250,000 through the sale of 1,000,000 common shares in a private placement transaction with an accredited investor at a sales price of $0.25 per common share.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During June 2011, we issued 28,506 common shares to Richard Papworth, our Chief Financial Officer for services rendered.&#160;&#160;We expensed $12,000 as professional fees for the issuance of these shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During fiscal 2011, we issued 615,886 common shares upon conversion of principal and interest previously outstanding on convertible notes payable.&#160;&#160;These transactions are discussed in more detail in Note 7.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During fiscal 2011, we also issued 81,439 common shares in exchange for other professional services.&#160;&#160;We expensed $29,022 as general and administrative expense for the issuance of these shares.</font></div></td></tr></table></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25">&#160; </div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During the first six months of fiscal 2012, we issued common shares for the following transactions:</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div><table width="100%" cellpadding="0" cellspacing="0"><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During the first six months of fiscal 2012, we issued 86,097 common shares to an entity controlled by Naser Ahmad, the Chief Technology Officer of Youchange, Inc.&#160;&#160;We expensed $30,000 as professional fees for the issuance of these shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During the first six months of fiscal 2012, we issued 17,219 common shares to Richard Papworth, our Chief Financial Officer for services rendered.&#160;&#160;We expensed $6,000 as professional fees for the issuance of these shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During July 2011, we issued 436,337 common shares upon conversion of principal and interest previously outstanding on convertible notes payable, of which 103,296 was with a related party.&#160;&#160;These transactions are discussed in more detail in Note 7.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During the first six months of fiscal 2012, we also issued 39,725 common shares in exchange for other professional services.&#160;&#160;We expensed approximately $10,000 as professional fees and approximately $3,000 as marketing expense for the issuance of these shares.</font></div></td></tr></table></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold">&#160; </font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">5. Related Party Advances</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During the six months ended December 31, 2011 we received $35,500 in short-term advances from Jeffrey Rass&#225;s, our Chief Executive Officer and Chairman of our Board of Directors, of which, $7,500 was repaid during such time.</font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold">4. Short Term Note Payable to BSFG</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">On January 1, 2010, Youchange, Inc. entered into a $75,000 note payable agreement with the previous shareholders of BSFG, which, together with a $50,000 cash payment and the issuance of 1,456,000 common shares following the reverse merger, was used to complete the reverse merger with BSFG. The payable was due in two equal installments, which were due on April 1, 2010 and June 30, 2010.&nbsp;&nbsp;In the event we failed to pay the first installment in full, under the terms of the agreement, the entire balance would accrue interest at 9.0% per annum retroactive from January 1, 2010. We may pay this interest penalty in cash or stock at a price of $0.05 per share, at our option.&nbsp;&nbsp;The first payment of $37,500 was paid when due on April 1, 2010; however, we have not made the second payment as of the date of this filing.</font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold">8. Professional Fees</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25">&nbsp;</div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">Included in professional fees on the accompanying Condensed Consolidated Statements of Operations are charges relative to certain of the Company&#146;s officers of approximately $80,000 and $125,000 for the three months ended December 31, 2011 and 2010, respectively, $128,000 and $194,000 for the six months ended December 31, 2011 and 2010, respectively and $660,000 for the period from August 22, 2008 (inception) to December 31, 2011.</font></div></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">9. Commitments and Contingencies</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold; FONT-STYLE:italic">Operating Leases</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The Company leases approximately 2,400 square feet of office space in Scottsdale, Arizona.&nbsp;&nbsp;The lease agreement expires during August 2012 and calls for rent of approximately $2,500 per month.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold; FONT-STYLE:italic">Indemnifications</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During the normal course of business, we make certain indemnities and commitments under which we may be required to make payments in relation to certain transactions. These may include: (i)&nbsp;intellectual property indemnities to customers in connection with the use, sales and/or license of products and services; (ii)&nbsp;indemnities to customers in connection with losses incurred while performing services on their premises; (iii)&nbsp;indemnities to vendors and service providers pertaining to claims based on negligence or willful misconduct; and (iv)&nbsp;indemnities involving the representations and warranties in certain contracts. In addition, under our by-laws we are committed to our directors and officers for providing for payments upon the occurrence of certain prescribed events. The majority of these indemnities and commitments do not provide for any limitation on the maximum potential for future payments that we could be obligated to make.</font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="left"><font style="DISPLAY:inline; FONT-WEIGHT:bold">6. Notes Payable and Advances</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During November 2011, we issued a $25,000 note payable with an unrelated, accredited third party in exchange for cash.&nbsp;&nbsp;The note matures 60 days from the date of issuance and bears interest at a rate of 10.0% per annum with an increase to 12.0% per annum following the maturity date.&nbsp;&nbsp;This note has not been repaid as of the date of this filing, and is accordingly currently in default.</font></div> <div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div> <div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During November 2011, we also received $10,000 from an unrelated party under a short-term advance.&nbsp;&nbsp;This advance was repaid during December 2011 with a stated interest amount of $100.</font></div> <!--egx--><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-WEIGHT:bold">7. Convertible Notes Payable</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The following summarizes convertible notes payable activity following the reverse merger described in Note 1:</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div><table width="100%" cellpadding="0" cellspacing="0"><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During July 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matured on January 19, 2011 and bears interest at a rate of 12.0% per annum.&#160;&#160;The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share.&#160;&#160;Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note.&#160;&#160;During July 2011, this convertible note, plus $3,178 of accrued interest, was converted to 112,713 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During August 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matured on February 6, 2011 and bears interest at 12.0% per annum.&#160;&#160;The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note. During July 2011, this convertible note, plus $2,999 of accrued interest, was converted to 111,996 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During September 2010, we issued a $22,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures two years from the date of issuance and bears interest at a rate of 8.0% per annum. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note. During June 2011, this convertible note, plus $1,247 of accrued interest, was converted to 92,983 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During September 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matured 61 days from the date of issue and bears interest at a rate of 8.0% per annum. The Company had the right to extend the maturity of this note an additional 30 days. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $5,500 for this convertible note. During July 2011, this convertible note, plus $2,083 of accrued interest, was converted to 108,332 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During October 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share.&#160;&#160;During June 2011, this convertible note, plus $1,250 of accrued interest, was converted to 87,500 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline"></font>&#160;</div></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During November 2010, we issued a $13,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $1,083 for this convertible note. During June 2011, this convertible note, plus $580 of accrued interest, was converted to 45,268 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During December 2010, we issued an $8,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $1,334 for this convertible note. During June 2011, this convertible note, plus $320 of accrued interest, was converted to 27,735 common shares.</font></div></td></tr></table></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25">&#160;</div><div><table width="100%" cellpadding="0" cellspacing="0"><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During December 2010, we issued a $90,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note is secured by all of the assets of the Company, matures two years from the date of issuance and may be accelerated if the Company raises $1.0 million in private financing before the maturity date.&#160;&#160;The note bears interest at a rate of 12.0% per annum and is convertible at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Unpaid accrued interest is convertible at any time, at the discretion of the investor, to shares of our common stock, with the conversion rate equal to the average closing price of our common stock for the ten days preceding such conversion.&#160;&#160;Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $23,400 for this convertible note. During January 2011, this convertible note, plus $600 of accrued interest, was converted to 362,400 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During March 2011, we issued a $25,000 convertible note with the spouse of a previous officer of&#160;&#160;YouChange, Inc in exchange for cash.&#160;&#160;The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note. During July 2011, this convertible note, plus $824 of accrued interest, was converted to 103,296 common shares.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During August 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During October 2011, we issued a $10,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures three months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $5,200 for this convertible note. This note has not been repaid as of the date of this filing, and is accordingly currently in default.</font></div></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline">&#160;</font></td><td width="3%" valign="top"><font style="DISPLAY:inline">&#160; </font></td><td width="81%" valign="top"><font style="DISPLAY:inline">&#160; </font></td></tr><tr><td width="2%" valign="top"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#160;</font></td><td width="3%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline; FONT-FAMILY:symbol, serif">&#183;</font></div></td><td width="81%" valign="top"><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:0pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">During December 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.&#160;&#160;The note matures six months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.&#160;&#160;The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note.</font></div></td></tr></table></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">As of December 31, 2011, the convertible notes payable and associated accrued interest described above are convertible into a total of approximately 227,500 common shares.</font></div><div style="DISPLAY:block; TEXT-INDENT:0pt; LINE-HEIGHT:1.25"><br></br></div><div style="DISPLAY:block; MARGIN-LEFT:0pt; TEXT-INDENT:9pt; LINE-HEIGHT:1.25; MARGIN-RIGHT:0pt" align="justify"><font style="DISPLAY:inline">The intrinsic value of a beneficial conversion feature inherent to a convertible note payable, which is not bifurcated and accounted for separately from the convertible note payable and may not be settled in cash upon conversion, is treated as a discount to the convertible note payable. This discount is amortized over the period from the date of issuance to the date the note is due using the effective interest method. If the note payable is retired prior to the end of its contractual term, the unamortized discount is expensed in the period of retirement to interest expense. In general, the beneficial conversion feature is measured by comparing the effective conversion price, after considering the relative fair value of detachable instruments included in the financing transaction, if any, to the fair value of the common shares at the commitment date to be received upon conversion.&#160;</font></div> 20729 21874 0001442236 2011-10-01 2011-12-31 0001442236 2010-10-01 2010-12-31 0001442236 2010-07-01 2010-12-31 0001442236 2011-07-01 2011-12-31 0001442236 2011-06-30 0001442236 2011-12-31 0001442236 2008-08-22 2011-12-31 0001442236 2012-01-31 0001442236 2008-08-22 2009-06-30 0001442236 2009-07-01 2010-06-30 0001442236 2010-07-01 2011-06-30 0001442236 us-gaap:CommonStockMember 2008-08-22 2009-06-30 0001442236 us-gaap:RetainedEarningsMember 2008-08-22 2009-06-30 0001442236 us-gaap:CommonStockMember 2009-06-30 0001442236 us-gaap:RetainedEarningsMember 2009-06-30 0001442236 2009-06-30 0001442236 us-gaap:CommonStockMember 2009-07-01 2010-06-30 0001442236 us-gaap:AdditionalPaidInCapitalMember 2009-07-01 2010-06-30 0001442236 us-gaap:RetainedEarningsMember 2009-07-01 2010-06-30 0001442236 us-gaap:CommonStockMember 2010-06-30 0001442236 us-gaap:AdditionalPaidInCapitalMember 2010-06-30 0001442236 us-gaap:RetainedEarningsMember 2010-06-30 0001442236 2010-06-30 0001442236 us-gaap:CommonStockMember 2010-07-01 2011-06-30 0001442236 us-gaap:AdditionalPaidInCapitalMember 2010-07-01 2011-06-30 0001442236 us-gaap:TreasuryStockMember 2010-07-01 2011-06-30 0001442236 us-gaap:RetainedEarningsMember 2010-07-01 2011-06-30 0001442236 us-gaap:CommonStockMember 2011-06-30 0001442236 us-gaap:AdditionalPaidInCapitalMember 2011-06-30 0001442236 us-gaap:TreasuryStockMember 2011-06-30 0001442236 us-gaap:RetainedEarningsMember 2011-06-30 0001442236 us-gaap:CommonStockMember 2011-07-01 2011-12-31 0001442236 us-gaap:AdditionalPaidInCapitalMember 2011-07-01 2011-12-31 0001442236 us-gaap:RetainedEarningsMember 2011-07-01 2011-12-31 0001442236 us-gaap:CommonStockMember 2011-12-31 0001442236 us-gaap:AdditionalPaidInCapitalMember 2011-12-31 0001442236 us-gaap:TreasuryStockMember 2011-12-31 0001442236 us-gaap:RetainedEarningsMember 2011-12-31 0001442236 2010-12-31 iso4217:USD shares iso4217:USD shares EX-101.SCH 6 ycng-20111231.xsd XBRL SCHEMA 000020 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:presentationLink link:definitionLink link:calculationLink 000060 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:definitionLink link:calculationLink 000150 - Disclosure - Commitment and Contingencies link:presentationLink link:definitionLink link:calculationLink 000130 - Disclosure - Convertible Notes Payable link:presentationLink link:definitionLink link:calculationLink 000100 - Disclosure - Short Term Note Payable to BSFG link:presentationLink link:definitionLink link:calculationLink 000040 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:definitionLink link:calculationLink 000050 - Statement - CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) link:presentationLink link:definitionLink link:calculationLink 000090 - Disclosure - Common Stock link:presentationLink link:definitionLink link:calculationLink 000080 - Disclosure - Feature Marketing Acquisition link:presentationLink link:definitionLink link:calculationLink 000120 - Disclosure - Notes Payable and Advances link:presentationLink link:definitionLink link:calculationLink 000010 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 000030 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL link:presentationLink link:definitionLink link:calculationLink 000070 - Disclosure - Organization of Business and Basis of Presentation link:presentationLink link:definitionLink link:calculationLink 000140 - Disclosure - Professional Fees link:presentationLink link:definitionLink link:calculationLink 000110 - Disclosure - Related Party Advances link:presentationLink link:definitionLink link:calculationLink 460000 - Disclosure - Debt link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 7 ycng-20111231_cal.xml XBRL CALCULATION EX-101.DEF 8 ycng-20111231_def.xml XBRL DEFINITION EX-101.LAB 9 ycng-20111231_lab.xml XBRL LABEL Professional Fees {1} Professional Fees Change in Accrued interest payable Cash based expense for reverse merger Loss from operations Loss from operations CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Notes and advances payable - related party Entity Well-known Seasoned Issuer Related Party Transactions [Abstract] Proceeds from sale of common stock Treasury Stock Total operating expenses Total operating expenses Additional paid-in capital Convertible notes payable - long-term Document Type Commitment and Contingencies Acquisition of treasury stock Acquisition of treasury stock Common stock issued for services Common stock issued for cash - shares Balance - shares Balance - shares Balance - shares Shareholders' equity: Convertible notes payable - short-term, net of discount of $21,874 and nil Advances to Feature Marketing Cash flows from investing activities: Adjustments to reconcile net loss to net cash used in operating activities: Common stock issued in connection with reverse merger General and administrative Common stock shares outstanding Document Period End Date Advances to Feature Marketing {1} Advances to Feature Marketing Beneficial conversion feature Common stock issued for intangible asset CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) LIABILITIES AND SHAREHOLDERS' EQUITY Statement [Table] Debt Disclosure [Text Block] Change in Prepaid expenses and other assets Change in Prepaid expenses and other assets Cash flows from operating activities: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Conversion of convertible notes payable and accrued interest Expense of reverse merger Operating expenses: Shareholders' equity: Common stock, $001 par value; 60,000,000 shares authorized; 39,005,605 and 38,426,227 shares issued as of December 31, 2011 and June 30, 2011, respectively; 38,930,605 and 38,351,227 shares outstanding as of December 31, 2011 and June 30, 2011, respectively Entity Common Stock, Shares Outstanding Stockholders' Equity Note Disclosure [Text Block] Net cash used in operating activities Net cash used in operating activities Common stock issued for cash Issuance of common stock upon formation - shares Equity Component Licensing fees Common stock shares issued Discount on convertible notes payable - related party Total liabilities Total liabilities Accrued interest payable Entity Current Reporting Status Entity Registrant Name Long-term Debt [Text Block] Equity Change in Inventory Change in Inventory Common stock issued for services - shares Common stock issued for intangible asset - shares Common Stock Current liabilities: Current assets: Common stock issued for interest Conversion of convertible notes payable and accrued interest - shares Convertible notes payable - related party, net of discount of nil and $20,729 as of September 30, 2011 and June 30, 2011, respectively Notes payable - short-term Other assets CONDENSED CONSOLIDATED BALANCE SHEETS Business Combination Disclosure [Text Block] Fees paid for financing costs Fees paid for financing costs Cash flows from financing activities: Purchase of property and equipment Purchase of property and equipment Change in Accounts payable and other accrued expenses Issuance of common stock upon formation Deficit Accumulated During the Development Stage Additional Paid-in Capital Weighted average common shares outstanding - basic Net loss Net loss Cost of products sold Total current liabilities Total current liabilities Total current assets Total current assets Statement [Line Items] Entity Voluntary Filers Professional Fees {2} Professional Fees Organization, Consolidation and Presentation of Financial Statements [Abstract] Amortization of debt discounts and deferred financing costs Other income (expense): Discount on convertible notes payable - short term Deficit accumulated during the development stage Deficit accumulated during the development stage Accounts payable and other accrued expenses Property and equipment - net Entity Central Index Key Amendment Flag Proceeds from convertible notes payable Software development costs Software development costs Marketing Gross profit Gross profit Net revenues Total shareholders' equity Total shareholders' equity Balance Balance Capitalized software costs Prepaid expenses and other current assets Current Fiscal Year End Date Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] Depreciation expense Statement, Equity Components [Axis] Basic and diluted net loss per common share Treasury stock, at cost (75,000 common shares as of September 30, 2011 and June 30, 2011, respectively) Treasury stock, at cost (75,000 common shares as of September 30, 2011 and June 30, 2011, respectively) Related party payables Document Fiscal Period Focus Entity Filer Category Document and Entity Information Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] Increase (decrease) in cash and cash equivalents Increase (decrease) in cash and cash equivalents Repayment of related party payables Repayment of related party payables Common stock issued for reverse merger Weighted average common shares outstanding - diluted Cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Discount on convertible notes payable - related party {1} Discount on convertible notes payable - related party Short-term Debt [Text Block] Cash paid for reverse merger Cash paid for reverse merger Effect of reverse merger - shares Effect of reverse merger Total other income (expense) Total other income (expense) Salaries and wages Treasury stock shares Inventory Related Party Transactions Disclosure [Text Block] Debt Business Combinations [Abstract] Net cash provided by financing activities Net cash provided by financing activities Repayment of notes payable Repayment of notes payable Proceeds from notes payable Changes in operating assets and liabilities: Interest expense Interest expense Interest income Common stock shares authorized Total assets Total assets Commitments and Contingencies Disclosure [Text Block] Borrowings from related parties Net cash used in investing activities Net cash used in investing activities Repayments from Feature Marketing Common stock issued in connection with reverse merger - shares Professional fees Common stock par value CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL Total liabilities and shareholders' equity Total liabilities and shareholders' equity ASSETS Document Fiscal Year Focus EX-101.PRE 10 ycng-20111231_pre.xml XBRL PRESENTATION XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } ZIP 12 0001096906-12-000314-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001096906-12-000314-xbrl.zip M4$L#!!0````(`)B!3D`A6[#Z-$````LD`@`1`!P`>6-N9RTR,#$Q,3(S,2YX M;6Q55`D``T_..D]/SCI/=7@+``$$)0X```0Y`0``[%U;<]M&LGX^I^K\!VQM M592M$B7<"=AQMF1='&UL2;&4]>9I"P2&)-8@P,P`DKF__G0/0!(`A[A3TFXE M#[$-#KJ_Z>GKW/##7[\M`NF14.9'X;LCY40^DDCH1IX?SMX=^2P:699ACY2C MO_[X?__[PY]&(^F.1E[B$D^:K*3[*(GGU/=F1+HG]-%W"9,2!J]*EQ8].B*^>1XME$A,J78=A].C$P)L=PS_ M2]^?_T529=D:J;*BGDA/3T\GQ)LYE),]<:.%-!HAJF\3&DC0C9"]\8C_[F@> MQ\LWIZ?X^(01]V06/9["#Z=`1AG)RDA3CK+F4S_8-%^YX8R_`H1Y4T7=--PT M0@R\441GT$C63OV0Q=BI-._.R<(9[;P5^.%7T7N* M;=NG_-=UTYV613SX\\1A6\KPJ]\"?\)&,\=9;MZ8.FS"6V<_"*0(6J*KRKB* M2=IB_4(8A6&R$+?W8GH:KY;D%!J-H!6AOIOOBU<:X(R'>9K^>`0*\3\_H!#> M,"[JSV0J'%#]@Q^\O#GJ\"9BHSF?DLIDX8WS@+ M(:[?HN1\[H1@XC]%`;H%!B9*EREI$9$2AW-@3)W@.O3(MY_)2L1"!N/0=575 MS#S5THL;LN<)I=@9G[E.\!MQ:(501R/9'&ER2G;?BR7`5WY`Z#D\GT54"/=^ MX0301/I,EA&-T=NA/W/"51Y]@4I9)"F0S?OWL1,G3"A\P@HB$;Y8HO[W*$C" MV*$I!"'9FRA/M?1"B=P7$@0_A]%3>$\<%H7$NV8L@=[7DMWSXHYE;,?C"IX( M\6(`*%I%Z:4]1%/;V4OV%R'1W$OE<8L6BRB\CR/WZ_T<(AJ[36+TGF@54A+Z M*?'TIZ,"PVL%NH`>TR.N#^H#$>7ZYNKH1\VR-=F4C<(@5W#A@#)/_.;<8?.S MT,,_+G]/_$!=1T^0A.PQ!L2MY2((LM;SGDZ'1D(NJ<9JMJ`QQTE2\?W+K\M M2<@(".`VGA-ZQAB)6>89VO9MK"CC+><&#(8%))"%HANZTAU2'VFHJFZ96]:# M,!'TT-(U==R$S4T4$P9=_A@Y(?M,7`*:/@D(J,5-%+J=NF@;UMC8\F["86!( M`H'89C]04)$L"8U7=P%D(/`B^H0E^O/VQJ[III%7OOV$!T(@$(4#4T0[&VO&O3+$@F1HWYI@3QLX)[#G9M17$V-HW[MTX"$?:LM4&/'(S&UWF M)C1;E@MF7*36@Y7(J5JZVI39F>?YN(;A!'=0JUZ'67::>Z?MH"FJK>8E6L]A M4$"B,;8AE=.[0WJ@Q&$)774>?=54\YG<+KU>[`0];L?P@CR2(.*5V7WLS,@E M)BU+ZC-R0::^Z\>0MB6+A-OZ14+]<%9^H[6.:)IBY%2T/X)G[9#0CZBJKAD' MZQ(?NGD4>(0RK*/C54N96U;>*'?)]>(F$H@&!8S=F&/.[T)NU;NWY<*PCOR` M6!H4DZW07)!)?!VRF/)Y_E]#9X$+*/\&K?$9+[+:>P=YK-IY3:UAL"\Z0=R_ MI;B.0SSN5.X(Y;/^.4#,6S^L'#/MZ$?Y1)858=#:Q^8PL(KR&A18NB1REL10 M3J!\J]==A!6=G/XGA%,F/Q@,4;D_'!"^M-9!%IA2&7S]J8;T(.SWI5EJ?CZ\ M$X#&"W%"(6P6X9K0'PZ(4!Q0I56+8Q^40GZ2-FTOBE*!*J#9FV=]65S']3/$ M^#"IK%/2!=[=Y2[-S(EV3:R\L_U%J&=L*GF>].9BVS)D`_MXZ)! M7^JXG$&4KBW":`,L'NW&01-U,Q\BL^0W&K&3AE+,/8'8*MG+*5Q6.HF69>.0=C M6ZTZMJ99BM*0[;T3.#1-]K]`8==>@51+5G+Z4Z;7G9E(?W1KG'?/0S&K41]3 M,PH%ZF!<*[7G4'VM<=N0-IIF0[9\X0P].ZZ@IWM);I>$.G$A3VOJ&XKI2A7M M(4#42']L*]ISHJD>%:LCF@\DA,&H(3\8 M%*&ZZ(:M/C>4&D>AV8K][.*I"T*V_?Q#5N=D='NLV-U`?7+H5X**WEF'Q[:: MBXYE>MV9B;345$UM>%YU:@BE]_@07"L538%$X!!]K4MV=+4IU_=XB`8R(2C^ M)W[(S\>EQ3&\JZI5GMQ_8Z=*,%^5B] M4U"L32.HW#1Y+&"Y)=J+J4BE1GMU:A"F-7HU4BT3^!^.>Z5RC?9JUS#R\0R\ZZI-\SD$ M4*-^EIFO>`\&HF8R5H<@UAI%^K!K=FB;IF"/I"B;:,-)I&Q0*PS.J3946J8\ M/,_JM%#6E.%YUM47$*N49DQOHC`J^K:NJC,R-;-PX&(/X0'8"Z.EH>C/PKXV M;NJJ*3\/D.H0JIB6^BPX:H*I(EN6;;5&0N)^"=NX,/E<(->1D3A),Q0M/SG5 MGU&=@H%#&>=+^"$XUB5C$(K&@W*L2\#*^]#VL[QT:(@'R-=[/-X[S'?/0N_" M#Y(XOW]@[]Z2/2,KG^1WE]2P&1A2G0Z\++9J;>F.[0O!*SJ(=_8([F%&;I+% MA-#;ZD_`GNQZ9U-&*Y:'`RM20`V`VK:AOS*P=4F6A4=1\W-`KP1U MI=)JAJT91GXC^."H,X5ON:.GIQ[O8WI(P+UT^?D!#Z7/+X%\&)VN1#[U@S>X M60ZO\[F=YC:._;J,PJN(+OBD;H-0+]NRJZ9U,O!Y4^3\]RI!?Q\%WA-^2) M_U*M;W;F8VO-4-]5@3K&!X3Z7/!2R0OPB9U:*VDV05SBWUBB=PEUYPX#/UE[ M#T$+U(K15,AE_L\`W-DD]G21DM=/\+?#ILEXR MG1U.@X)IG+W(8SM_H_/AH0D@V%K^_JHF$*I&MPY?7U6#H1P;]7,056!>IL!N MWD=3:9B/_X=,+72S#=R>_Z)3#@<6A*C#=H,IA]<^Q])&SR&EJ5?U-G,L:U+% M6Y9R[=^3D%\(AO?/K0E>$2=.:*-MF>U4V#"U_$5474`]7Z\.CG[W7CQ>,-+T ML-@G$L^CZOM`"F,09]3VS;O47,FWR_IP6`='UWH/J-*PGAX;AEJX87^X;:AB M2;3@V/YFN.J2JGAMY^!7]#6/<^7[,H>'4FTKHY(Z#L^_035?OM!QP.*ZD284 MKM+:7URW3[[S&]%J,EOMT(5``4OC&L4RM8-73Y7;]71K/"Z/SK-7*&W&4=;K M\];&!O.96I.24V+/KGJQ@:JYVNO63I<.B>-Y^:MDS]OU@0 M@@[;U3:ZJ$YOB-?@#YW7-Y]O+ M=]0/#>1%T]L&P[]S\&W(Y+96`XJW]NY-;<_2>ZAY_G$[O?)#)W2A._P>%WZT M*[V=NL]UI[:M(50+0#>LXFF!>@CI M)T!^]D.O_V4:I3V)NZ0W6[WP`[`<5S8P5Q%MOMNL&D/V_:`F7+9PMJ=X4D\\ M')[U1J-&;$I75;@81\D%2?^\#M??EZW^TD_MT7:]^,W:"B[#X*D9L.)5--W1 M9!^]$U[5*>WT%7:B[N*=X__Y!NE#Z\&7UQX3K M9A0*0;4)KT'!U4G3K'8K->C@WQBE[VCTZ'O$>[_Z%<+U=;BY"N[,C?W'GF8W MPB^3V\4UK89,#X&UQL`TRU#-5X*UY@*9L6TI^3MV.V(%U>"S6P]1]@VP]0>A M^Y2VA1-K>SD,@*/Z_DY;?R8<-69:^B9X.R"0IIYYCWC@_2$ZFT(F"T55'Z$4 M]R96J'E4(%4M8K?JV[,\Q!0J^.H5?2\+PJU)HQJAFTK]>E)'=:BQ6W65G!M MM=ABW.#4M,V@2M#9O#)$* M*$K1%S?G>0BHK<+&BT*MJT1,`*OUQHKO0.:*?V#V^N@$J#3I1HSR%$V/=-"4 MBY^9;,'U,'"K%Y+E_&'1%P=;6Z/8!P-[!DI%Z0KTAV]#:GWN%N>`:]&5F`P- M2W3Q0/XJG/:@;NG,";,U>\C@6!3X7OHQG="[HX3!^\7U?"?@7[_F#AE7](.( M)12GB^_]6>A/?1?KQW0N&;=!`3T7#/4!.O$^P"0BWZ/T"M(?OPOBMW\:C)Q:N`O/ON]R2*WUY?_CIX8URHAJ;=S[S1]`F)2PY M`0#/N`1DFCU>XY@"7"$0/PS\D+R5KFYO'D9?4CZ3*/"VKRLGWSF+Y=MPPI9O MMW_+"UR*IM+Z.T:2$WH27OG*\&E>]`CC%'&L,9V"K5F.S;7P;2I\[<"6?D6`)? M#^&=%'[]]?W_U8?TOZ^U?CB5'NB&/CN>` M>M-E1-/119K+9`(6$*RDF#H0RR0V)T$`K19+)UQ)#N`''%+L+P`(/@T(7I7M M2(MT!1[>"IG#9Y&D[VFVQB?%D>0P*9X3:0N)IDOJV8M;<-`,^C";1TD,?P7M MP@FH<`:8G^8^L(8G'F$N]2=`V`^E:4)QX1`>QHX?2!,21$_'O"N@DDD0IZW* MXF.XYR+;2R9%$]R+AI?,HK'3*.!Z#B([D1X`,_B+1XC?\'-9.*#QN--M&@7` M%!M@%XL=*T@DA0"`(-D,G05!P6PE`AC/>0/I)P"&F^*DDCC._?RTYWG"Q,^C)#],$2T-Z'FJ([DF?/RQCWMZ MQD<)9>%N'#EJ7#)AON<[=+6C]<,+.%;X]UUQIUJ0LB\,_A(B,L=5IK%_ MZ$ZD,S`#M@T9H%0@[K5=3)P`:\+4*>9>@P>42"3P%_C)MU05W7S4.I%N$PHJ MSEPPWA4!6R8H$R;]+0D)F/_)'\ZTKS.]@K%V-@$>;!@<'B-LUZ7ZJ8MRT@EF MBF-5K12I@N%XDM\3\`7H&)!`NH4"?PMR:^%<->!G\&FX4P8'//OX!^H)V`K. MOJ'OV6$Y>1N%"? M@A9GT;Q$0)06<'-(;_WB80,DP_^)]N04+)?"'2$X&QB])<#S4$Q<[6*YHX MPHQ`%$07ASN]((->F\<'BJ/Y0-QY&`71;)5/._AO^%,N]P!";IPJAY>N:@*G M@#C\DG<6<<5>1(]6V\ZGK>*"Y(6(TJ"-[HE+Q]]R72[!G9$"-P:5$=JDCZFB M1*;3B/(A@A1QF;I!^DC2<=J^ETIG'J%OVG0-J-/(<<'-07/P1CQ*YGD!;WP/ MI!)&"_10\("!CD.>AC.=?]A\;YM'72RE;.9;MK7YK45@OAVOK>Z)0'860V!X M>GHZV228)Z#^:$KH1,!Z(*>&'$GZ5^2'62:.B>"4@OIX##4FP&,?DC-)DWP" M\2*"45T(;3JK!])"/(R/)9#J+#4Z4,!D(3:U>P`)(1L_ZY`E82&D`/BM!QYQ M8NI34#!`*>+1R!]Z&ISW."=6[HT[P?..8^`FUNZR6V#F'M5*#T25R2 M9A749U^1%![_P>PU#8UI#QD>Q5D(N_%IW0/71;O!=S9"!QD';A(XW%P!;31% M*6/\G>"LUKI;.P/%&T_0P!AX?43CH'=')P``(9-A/"4YEA909X!C(CY8-;HH M)QAAX0=\V1R)G`)C2D!;(/[#4,[39X]+O;KK'@'#^Z]%!-A.2 M2A3D0KYEW9NB>'EM!V.Y8"+Q9"Y]Z_CNYQ!/N(O-U2$P_,XZQ2]*8JO-Z]H2 MU#;BE@*P\`O2R\`!CY=J]KH3T`;PKG%R-40-AL&.L>_2^HC7>I3W\!082MXN MP'>`SR6/:7Z'SG!K&>YFKX;D41@>MAGMK79<`?!)%'T]EAZ>_#C.5/JC'WXE MW@A0KF,M@5I+6H)A[(]9&10A_PP@R`DU2O(72X@*6"`M'8@.9:E+_(ON9+;: M)*5>%/*(@LU#$,C<7TJ`=YXQ94@.N@<&`AJY#B`8N/T0W*[O)1`?CR$T080) MLE`,>2B6Y3.<"V'_W]Z5]K9M9>W/\R_XP8.T`&V3DAY&4K*\2\X%6D26R+O?LY_G>%9Q9U:A16TVOI#0 M1F0CM\_$ES(9_H%?GUP!49LZLMB7$UL0@VLQ8U\)ZTI"9.!=I!?C>7F:5>=: M=AAE<`:`$N-35\,)44_5E4VZE34*=(Q\1(_AXT2_@10Y`ILF0YTGWKK!(5-I MOK%:@X/I,$OY-F-BAO8MM$L8`0>^,<(.NW^N=K3M-.5KSS.C$0(QP4?M0<*= M.)U/_F`;%'8)BV_WF'ZKT58P`Q;2&J6U+:"*#7FS1D*,*YMQS$"]S8IY!?+5 M))GG()*-VK1$E MB('("80.,`TP(^C:*.M->+QU5LL4_?II M.71T!S-8;%BH6N>1"H-Q,D2=G\=`*JT27/%KD-1/_XNT$ZDV+!QOHWH4A0M] M;-D,0,R/!O!'FM*](Q,L?STN86?);A.J%95&]=.9^DBE"=(4,G M4[)P)PM%!)]XI]0J)+Y959&'KJ$\O7MC\;QK7!ZNEP.%>4G(L@9N'!\[P9NT M1"8(C>B;`Z.>*!,PZ.;*_)BPY&7W;-OOQ4,O!H"BSN%BH2@EGOTJR+%]-!B) M"8/=A%U6<[VPJ'X1.2&;,XD>=I=P>X;9#->:I0LR3X%&/C/V>M>LZ!A!CX\_ MV:*$)C+&OH^*[A1UM!'3HZ[ILN?+],=CUZ;0^@XG#659HI@5&EAX^NQ,L#O% M'0(B-2=OP77^B+&X!Y5+"YX3CQ8YM.,0;9G``7#R>8`%&8,XVOXGJ<_X'BH8 M,C/#S,,[S1+M1W@`41F`\P?B`_R>&-B>4*T!27@Y;#%TSF<)Y0!@442?[1?R M%*7VI+PB0W62E6BEK(G)D5=/C0)XH*@3[).F.VHY?X@'HE%E#*MM%F]&H4-T M3#&X0D0UV7P=;E$I+4E?`#16X$31>2*!?D?T'>8X,>[C8. M5V_"M9MG+C.LRP14.+JF/!9S^:?0MR)4[`_B^70=F""9,NV`YV%P2"'4JR(; M.%/V.OV]2'<-$M)YD?FTX(:@ZO*PE+%,R?-:V?([G((IVFK1*#FE!HC75-5\ M.N,3QPX$JA$D&A[*1'A9Y$RADK+8)6LN#CZ(1`(F1D=RP3MU*VR@VR,K5[5K M.$HQ)56=$^`K%=QAWJ$%IBL#K'A8SXD.,?F`#9C@T,=L5R<=$.FU7J6=P`IO MLQ9/6")0&PZPLTK=+?+ MSSKU)2F\W9R:><":H[%?X622BF6(SC&IP8P#3M8(.#'$'IQU[80_S29S]K3P M"@(_2YFZ(-.VWG2:G$E%RN`2;E:B"``',Q1"J>:5ZDEAK\D#4T;&5B2CT6\E MA$EE*Z&+5N,#ZB:S\;8\@RHZ-;@3\'EA,L<+C,MJ'1AR^Y.-"L/1QN1NGFC! M0].NT5RS0>WVZ# MPZ(!L_59828&Q%'5H:_4X"_1L@&R-'Z;L#2-?(?L>7R"RFS8;>?\HL*!%JP' MN5'LF,AI0=]00"3\B3E"P>$S(K^W#YB^#?EMQTS+-R=??O_EW4N*2QJ:%@4K M*A!,*CJ:%'_[;);_R<.BXWT5%HT+J\-(+X'HH-IVF3MAI"9.VBJU1P&H*O#9 MDDEEUT[FI[9D2B9A)BT%VJB/S\HTU?8YS$%'TO#1A#(W;G##T"*=Z%;LKNB\ M-"/X4%IOOJ39A1U?E^"O(Z'5I`4BW4%"PUS2#2OO)G,LX"KBU!D:VPZ>I.]E M@4KL69VS(8U;$)+=,:D/C.X=UP^%Q8C%Z<;B_=Q3N'\56HS0^ M6Q):[JGK"K^7$!/R.Z;ILK9I&&F"L7,DO:P6JLKLC`<#3(YZNR!=L`MA8N(G+P%PD48@8`ANC(:G4CGPA=)DDM=60>$$[3/ M%D"XA,VC/-H4;O#MK;@?'@QBON):]J,K>"!'I&/W98SJ>/`LIQ0&0@*1$[OK M7GL2VA+10A<%S5.H#)WY!%K!N$%XL+\?[D7[X?Y@8`V)9"!G&-TGV1Z=FP#@ M!&-#BQS&8^W4TH-WGH(2?1#_%::E09GQ.KM]2%R!L;.V:.&EOH-QN+=_0+N] M9):RM%4ZF"=;<:8HV5;BK*D[&''UEZW\%O3K=XA6A?[%;%'TP M-E*-W`Y?4Q'IV/X(P5,D##OEF@O&,OB*A@S=0#^T-Q.,$\3E*.L0GDLI?I)# MKD9:QN'H*2\3^+UWPG^K[A$Z2>T%P=6!`F>CNG$1&&0ATKQ&YR+R\0Y M"J=(\RBH?3R?*/\[#`)H)8?!7*EITKX^(^GH*3GU/9#^^0R(/^Z+:@M>-CO) M;%LVDHWJ="T=\Z1XL($:$^]/RN2L3&;G[`ZC]#+F_[6Z'H8UV%1;ATK0).CZ M=$D>HX+8L;KO=#JM&D(<>(I^`SR3QJ.?+>$W2[GNLSFH:RW&?TZ';,*1@B\& MPB/X5!8Y?![R_C^?_7@JPL$%HH(3%,;)\V&\'L8R9JW_">KM%&?^>;EKS/RL5MO'Y]\M5_^M=BAH6Q'`QNFX`OC+P9_+XH1L1KD M_!_@%F>E:VMM-*W:2I943@D\O5,LC]2 MRCZ'9I'8:9Z+04G!!0'U4*RVB2Q`W!Y\?\)Y90D3]49<`!,XS@O'Z:A!4.2U M,PPG%`KFR2$\N#*7Q795IS.S+M::U.RF4\E7QC`KH2`C[3\1C(W8`XPSE!*A`/\5=1D7*2B-&]:*1D/(>90_U^RIR^@P5 M50Y4A,%3Q%5B0MIP,D-2T2A,N16$9F&C-.+0GA'O>F):2>%R%ID$LJ=I'5`4 M0[GV;>@,N`AYMIWUY&O?9M\=;IWS*-*8C?*D1PT2M"BL?`5 M5E;4^8)2*9G/VK'Y[\\%QPF5,;W(,@<>X M_U0)8L6\LF()%PP4HVQ1^+P$TLUQ;YA_4G/BNOA^C-BX$WQ.SX`/$7G4EF4. M7292A?%6HN-:=,?-319,]#2$6&)T5`Z MD$ZF-\\C#4.M$A83.[:V1B1QWJS$_^A'\.?E MES;N*99%\6V5Q-ZQGZ$U3V%7$R+I*AK6O>?+-M?SB>?,)P3)ZUHVL6>SB6-S MI^!`'0_/,SC)RFOY'@4^1F;\2#%FQGYET`^!MFG21`?VZ\[)3H#AN/3@A_>? M3ZI%C.:-&M)UC*;K^NN7V4$H<\TL@R(M<5-TG39F8L7LEHV9F$D@>6#0"CC4 M1E'YK"5@K6HL0$8QL$XM,J\2&S'FD)/0-'R!LG2@@>S*>`P[1HE$C&=&M@LS M78&V4-,D%ZB5-5BV M4T&?,4U^C_BLO9UV`+X=TN:Y\EVY\CMM,6A&^484Y>&&`094N-4D5IK@-`[W MHV;;O_+W$NC7D5'1Q&YM/>+B$@3'9?8_X'$VDNM"?MPQ5M$!1UH'M,,)!3MC M05R.B7%IG\MF\%@_C/I1V(_ZRR)CL(.MGL1+H1J75.==A[ZXE*PW)F<$4J4! MV!0F8PNFK2O-7_('8+0GPZ*NJU$R`68C2ZK$_,O4,?SAYS-2'W7NG$I\?PH9 M^7EE3)_,3T7LT@F`K?@KZX228/`^/2WG:'KL[=LA^8K?XH%HGZ'&7?X,8IMD M19N[05RY=4%*\VA[0&@Q[<@2`/I1%=P>:>-H_A5LNX#N$V%+A:W6P@I4F7%B*J/U/!^E0@G50="$0$)[K+`B2J<2RQ3"DEQY MY?@^8\ITC#=L(@CCVW"V)W,RZHWGDS%(Q*P3FK#P3J9J(M][1R*1=W'(KWKG M&4E;&>2Z>@H[>B$)745!+,*T`D)PGLUF"NL#$7@I4TW!J\*776/#T#F!%Y:, M30NY27(T\1(RP%.3C.!UF%=X/T!YO.@.L%J0WD2C=-*_34JHDXB%1F+LP,FN MVCKB<%CB[$>'^+D9/,]7"RF*BH8^=7"4.VF2(D+5?"8I:@AHV(R=9EK;>GM) ME+B>VBGFONM@:[2J!J6D_/;V=J*_4@X=ZH'=$$O_3IEL6KBNNC&QH]*"T5S< M%>OOT8J1R1`/.K-!>VQN/B5/\GA^!G2_:*U^FB)$)\SG4;7=5 M>@=\=@PA;KLWR9HMF-1N_L@5\T(?D)XTW)!&%R M&@W@/4V5NAQ1XOD*9H75-'O'&'!BQ=N]HU@W3&K<.'O`_03&F-?[.TZVRL*U M?V3)8U,%#ZS%D,Q!8"WIBCBZJ8##T'$_(`VUD>?A/,W!DR@1&O*TM1-%8@HT M&2:@IDX3[*[J4(<%./(V!'^5S)5V0N#+-3M!ZB/'_EUFH_I<^HZCZ*^R_\-T M,IDQKK+\&%F_5+-DV/I%MZL[KD=.\SW5^(5]NNIBYKZ_<53D_?''#[_\_K*Z MF@(A"0GV>>RV8W:?S4P'46MC=NO1@F7K?Y_+QBLUZ+]:>GT6+]L@?F[K9A[^ MBO'"QGF%]A67YAWO9D//(I5#_I]#^,>]VES[J`G^9[D/V5P MBX3-=M`L\0[&K8AA\]2_`L8?/OJ&<)GB6L.TN(P_V6;<7F!0I#XV.YT\+[:?*" MH0:=KN$[@E<1KX(%/8V&$;?4Q:B8PEMHJNGP/I(]AVHH;O5PJ#O6%=&?CE4* M2%9+&24*CH-_\_12Y1>C=7J[+K:YFBZY.IL#9>QWG,`H'6<(@$`E(IK66\K` M(0^MY.Z4-5JP/-/R3&OSJ8AG6IYIK3O3:N-MM5@6) MB/NE,+[@Z7D^2[)1"PGL-D1^EPSJ"XSNWDNT_%@<5XO15BF\(FP[5L('`?(+ MNY#\NI#.[@+EUY!L'@_*;]FQ]L=T%9B>5IV'+O0Z%^5B(8Q=BYXE%06\90DG M9Z<@)%-'VEFI$+'E=#/(7<>)^G+N1C%:`G:TT]\S:-7-Z(\._.1%&*<=77)6 M:RN"I&HAF0.=WCO:#Z.]2%!'9UQRA"5S.\P*,;K\N;T[>7V.$)/O,9K&0KSC MRFA5ET1APO=*SG?N6@,SK$<[<0NEZDT\9BWA+K:!/%T2H$B:=3*LZE<^:.)> M+00WT5O46;Q7V\'FJ"I>Q;LWO([)U<(TKR)/MZD4%F4533C^V(TX_Q7DG#(X M/I\FIGKNK[]]/`[>85,@F1"E_^67-W;M8Q/R74GDPI=T>)X7D^+L2J.0M^5B M"?AD.M7O]T/X?VE25=66SRA>4_7/(6D8\JXS+LST,BGO^8\DIQ0;26?IBBF. M5$T/.\0UTO4\E-ZZ=6#RN^QQB5QE"WFD[YY>P>B6%2<:HXM3\9-QUZG MR/=O)QB;.>I4\.6V9!6I$#.-0L%"Z(.A>8!:<98[5-@S[88]=.RK'+&4B/!U M*:6TH,"9JA7O/$XJ"I=BC\E:S&W(]#LJJ%I8%F@2YT-XSI#@A%(WZCQT8OC6 M$*Z87PV'ICY'BS1]L'"?MF+!,(?=IM_X$%ZFW7[<>*\7[O<XZ:D27=YY, MBN'.OG$O56?UN#HVZR[*,E!"0^\`KQ)=`W8P=/.': M7+>UOQ?&?=I*J3$@]2T1SY+ZII)[(O^I7;;E3?S[FIO2%!N]L.*%%2^L>&%E M+=>M):S8((B+3"'!-::0C\C>_C%/ZYKA,=D8\JDL:BRA>H7F"81FFZ!<@I@, M\`MHE?55\,.G#Y]^7,%(\ILNI[#81K**1>.W85T02)>Q:!B(:Z-L=C"XY:9C MRR5QT-L/X?\;6V]_O'A*[8Z(*;&K?;? M@I1.)E5QBXF_-56!65K]U^UX.3E M`B\7>+G`RP5KN&XMN4"P3-!D`(XWAF%ZB"QL[1TNO(4UE-83V$] MA5W+=6M16`MRR6@2O4&X'QVTDR#;%:U-'>M6K6I7HRC1H58J!*2VB]18RT"X M58;/IL1\K=+A::^GO9[V>MJ[ENO6HKT+[#@'\7XX);T<6AU78W49BLS'P MK$C3HC/5([DRA6_;L*VTVSL*HU[O;K[A.XF_CY*1UZ`S MSR."W]CHK;C!IIG>1_;[R/Y-(H^>K3P-=1@M MP'_)I%P]D/]:IF3%GGD3C!?^/95>-VKCJ?334.GX,.S%37W@L0SC!YXH>Z+L MB?+:$A=/E.\Y=<6QBN_U#\)^ORDA/ZA5W()=B*-^V#LZH&A&29110'Y2?,L; MT#VY]N1Z@\B.)]>/+$/;AO7^47C8VW]`PWHS,GR)18,,[HU2:.KIJ2G;N8XV M^#4Z%LNJ12TEDZTJ72N7W'(*=7UF=OP)N?$7B^5N7*FN>RW=O;\3R,($M#+! ML91G6[@/OECHS:E?"S>B78'O,C48A5O]?<1O1GI7G1=EO4T)0Z;*(L&>+"H< M8PP+K7(S4HHFR#>Z>6UP/9_\%)O\V/:TWY'K>-VWQ#1781-;$ZTQH#)2\3K7XTBXL/QH-P6-2WJ*: M)KZ.]5`1`/"R"-(_,5TRRT%GYF+$;@$3?!*+:X'>/=$YCDX)\0,"G:3)* M;2P'?1R783^MPA6ZJ3LQ`&CDY2=+$'\/P:M*%8CJ*E0]B$S!\[BWKS.AB4(2*O8U M(BJ^R;S1K9,.K0VLIH_VG*97D'V[&^;F#@24[WY*BR]5O36!ZJ0^CF"*@.%9 M35MWG(]@4]$$D.;#+/W.]N(>P]`C'D"(G(.&+R7&`L8TD M+I\,B[JN1@GZCH[+[']`719*P;,5H?&!VO)':I59HWV@LIQT62P>Q7JB4EA):3MUH?RH*5%[R`O!,AE* M>D8FL]VXI"Y7W%;&TN)+D$Y^-!<\LY&&9@IIR!XF-@TK54RE3`K($'G:J)@Q M1U1B!AV`6>W"W6?@QI3]W,5H/A0FK/PBKV`8[CA6[Q&DFHJ\,`3&AXHD:.-( M4+#>`-D$5UX11O"QL.N_W!@`PKNP.JZJ=7VY/DLB+?5IG*H9/:?OB[ MJN'*O6C1G6$S%9(@_:7.GL:[+(:,B,BV`C4D'+J4_R&;B>`Y3Y/_%B6&"&M7 MU++[,"I([5%Z#[&N&3+B. MESA[M*S`S2I.8;M4B4.\6JO8"FXF<#NR.EH7OF^A_&"'[,:5-ASCEGM'SSVS MI%^+"XU1U\!=V^IU&(L5FHRN'!W:P#+U>59*[%"[>&A2G2\4&ZD/D/GF*"L> M1,$HN1*7D6VJTS9D/`JG:5)6CK4S"4IY,(Y2XFEH#-GGV\YS8Z$B'RRPUMOER8RM9'`PEK>;3:5)F_TNK MQ?&H`3FDD-0N<_^Y-2+)H1S[?%(?9>FC+#=IW5ILV:WGT!(]FT3C7L3/CN*5 MEOA)VKGVBQ]9SIZE`JYHGU2LSP)#+Y, M3=6(5,,Y8D3&4G!D>\0&YE'P'3M&_+.R5F!37%B6/?TR%*I'4.MIF3@2K.MI M19Z$JL8D"RU"&K42+SG=# M*07=#^/#`9F<&_O`H29F%U!9B'OA8=QWXU5\0H-/:/"LUK/:M5RW%JLUKK?;"HZ.CE9EG#$\?>.;IF:=GGIYY;L"Z MM9BG*673Q3][3\4_*PIEOR)>>7MORWN&*7/0( M6.[`:Z">B7HFZIGH)JS;#9GH$RJA!_&2@(/;\4\5=7N>[:\`>O68LNJ75-5MA>\Q7&4;89:'Q0.(),R%-4"W!T]H-59OPKKL]?+8<*\;BVNP<"+"UY]]HS9,^8-6+<68[9S>5S&G`=;`\^8/6.^$V/N M]_?ND3'W>ZLRYMYA>-C?OSMC?MQ*?!U]:,KDLW(\2_,L[6XL+=@ZBAZ?I0%! MJ](AN6J1.TTF&A:SJM):9UH+8PIORP)AO.D$(:B0,KJ\KDP0$`3H\4X43+/) M!.DT05=D%]C@F*LAP=*=IF.L?;$@A?PV++*9IWX=CWQ@1^_7G//;F][GAQQ2 M:,!C+#Y)0V085WB;C@/\E,"IP@1HW`P-2]J:HX801%11E&UFF`D^TAC1IIL' M3HRZN4C0ZQ-FUPHR@22QK2`6'$2KB@7]`X8,\PJ[5]B]=..EF_5?MY9T\S$I M@<(OQKOI%FT(%796S!FF+#$0Z86N2-O%*7XOYF\,(+M7YY]"G5^?2#4'P/@^ M0M4&O;V5`]6XUIMGW)YQ>\;M&??ZKUN+<9L,YAMQ;F]G7U?&_%!V]OM'&_%L MTK-)SR8]FUS#=6NQ22N>N\DGXR M[\:)>7ZK5X([AW4'*E]E0V1@2SD=/YP/H`\!?>_`JDZY)W6I/R1>UJDLZR.;Q;UQ,&5J?:OE2OQXPZQ`'4 M9=Y MI?#BT_&8BW!:B!AI?5Z,=H(/8_.>6H,,:S+45"P+*#63?VJ&BAH%65WI6DD4 M89264[[`\]S,P9Y9^FW&U5*SW)X6M,7]3&6_]>CD!2K$=`;'I4PFW,,U9Z>" M>265BH:C@JUE>Q&L-XD3`0<<0\?X?84%J@S,OE1J'2=9:4[P**T3D"F8KE1U M.5=EQ$P567S;!+Y9E<1"%`,H$$_6U&V:3XQ=]UN8I*GG)'M=<$TS*='1.)8[ MRX3T5FF,SK(7NFKS6]G'WW*K,`35A9"R$)]9!OLDM4`RKI3Q]>3M"Z=TQKLX M_E?O!2S>$,CNI/K;BP^_OG_Q4R\Z[!UQ@=8;=;3Z\'11ZN5C:X\L'ASNK3@R MW0<-2UH.LI$N&`)?_^4UUM3BD<,?<,[@SW&&[NY>7E M3I4.=\Z*B]TW'_[YXB>08.*]O5ZO?_!ZU[S&;>Y:C;[F:R4=5#6LTUM8L)^0 MP6['T784O]XUW_)3<*6M9WK;_1B;'.DG7N^:1E_ORLPZ9AFMPRRC%689W7Z6 M;^,H.HSB_\11W.O'ZS#=Z/!!IQOS=./UF&Z\PG3O<(:9/CW%+)&))'DMAE]6\^^K?1(!KT>NMRV*+!-OS7ZSW48?L0P_M/-$]KPWIP MG^ZX8=%1=-"/-F+#HB-UNVY!#&&>3/O78[I'*]'^VT]7L;IX+::[$JN+[[*[ M]F'^#TO@9-MZN*G##-,S%.A_>OWMM)R,LI>@]$Q`M:D_LFUDE,&O*,W_[862 MU$^P#!Z^\^[/.8P'38E%3B54OV75BY_LVJI%?H+CY[9>[W9V\1.LIXQAK:Z: MLQF@(299GH[2I,2"P=5&[LAGF<0[F<0&;LN[Z.A?/7\UEK!3L[JWD-YH=?U9 M?Y1U?F*QZR[C=^40?QV?5DIR-\/X_#":(\N'R2RKD\E&;LRQGLLGF,N'_`W/ M9?,WR9/8]=B6=W'DQ8GEVGET%V,0KJXG2$^QZI["/,HZ/[7M[`[C=ZTKG@@^ MK>W'W0Q/,S=@DS#BHIJ75YM[9[[(#)[)K?$\;SVVA9R8GJ$LX]MW<[%ZJ?J) M5MV3_(=>84_#'WJ=W8@:3Z:7L\H'CO=I;(:GZANP29Y$K<>V`,/PU&LYD[AU M)!RNK2=&C[_F7L!\V/7UM/OA5_EI(O4L*O9Z M\>%+^.7UKOJ2&L"7W+=/*%6FT0#GSUS[[M=J]"DMJ05I8)1=P-QE;OCU5S'B%5+S;=>[YI1ZEGQ,80/_P]02P,$ M%`````@`F(%.0'WIANUG`P``"AD``!4`'`!Y8VYG+3(P,3$Q,C,Q7V-A;"YX M;6Q55`D``T_..D]/SCI/=7@+``$$)0X```0Y`0``S9A=;]HP%(:O.VG_P6,7 MW:2&-%256C0VI2242)0PDFG;U122`UA-;&8[?.S7STZA@Q40*]3L)B'V\7M> M/R! MI=>O3DZ*X.J4XY4!DXM%N&5^NVL%\1"RR,"$"V7_82#'55ZTMVA<3&"'E&AC MA+HR%F&&:C*LBG%AE:<\63+:Q^ECFEE,!H6(!"%%+,NJ7%A+L4KM'S$\&3(' M85U?7YM%[W*TE$O$8_BR^J7YT/E7--YBYQ&N+.C)0T493:$+?:3.7[K>]HF; M*LK$"?OAT#C/@(C%V2:)2P06,X_T*+NSMOEG"G&4QGE:-+?D]4I6F`H@"22+O&H"!YUC8<-8X=NLZ-W;+;=3=HNFX8/)?P#LH:^.[@XJAT.W;7;8=--_3J M=NOE4*^F^2^XKUK2780@E,<[:2#P&W['[=JA)WL/6H`-*8X%?X.=HX'W&_6F MW;YU`Z\=-.6]T/1;CML-W,]?O/"[XS:\NA>^3#UVRGST,NWD\IB/3=T.FHV6 M__7EGIH_&8Y>C14W+TC=P3Q.*<\9^&P0$?RKD/;[-VHS#IS+_<%-Q#'W^QT& M7&X8]ML%/2^;CGW1\YQIJ4P#(B%/=Q&[!R%?D>SX9XXY/DPAMHEKY;[-B!;, M\M4RHR00-+[?'^NRF%:,RXFU8`N&E(D06-:F`CK1+.JE$-*;H'&[/\4MVEJA M;O&AA7$7I"PDG8B)V?Q3"-^?[EI5K5S7.M!"5!62SRLIU_;#0=TDK)7K)A.: MUE$R!B:PS+WLXQ!KZGIAS>OK>A-:T'88[V$@/``#;YP``%0`<`'EC;F`L``00E#@``!#D!``#M75MSV[@5?MZ= MV?^@9A_,[A3S\_KMS6!A**L/?QK'M^<=:"GHT=Y"T^GB&* MV^_>O7W?[I[]_(\?OO_I3^UV:T*PX]O0:=UO6U/LLR5!S@*VII!LD`UIRZ=< MM#7H?[+NJ(\8;%$\9P^`P-EK_H]]_II_ MM]X2M%BRUI][?VE=7ER\:U]>="_/6P\/#^?060`2='MNXU6KW19:N[XE[CLFBPSM[TXD;OOKA^^^^"QI_>*0H)?#P M)F[>[?SG]F9J+^$*M)%'F5`_%*3H`PT^O\%V8(#")5O2%N*_=MRL+3YJ=R_; M;[KGC]1)*#I'[NXR6]M;!)UP('@GW6[W\DTWT5;T5A&&C$@$1/?]^_>=X-MD M:]Z=PW;-D[V_[81?[K5&!>KLP.6$?AM^N(50'4"G.FZ!FV#CMHK MN+J'I$Y54_TF](R5W-^$"7RL(`^)3V_XOZF+PD<&/0H/IY\%@-CT47X6>GQ]=!26$#I$2+K:3 M5SYSQ>**R5G2VK/DO34']#ZX&WS:7@"P#C3H0)?1^),`E_9%-UI-?XP^_CIE M@$'!]PS/NHLDTK7/I;!M+SPE>%4(77Q9+->:;77YUO!9Z`O>L MA8D#2;B+;A3WGD^(F,E4X-]O:PP+&2/SR;ALCHP>H$N^FHA?@]]\M`$NUY=: MK`<(V?)3TK^!Z\MF'C59`\A2!"&?O#?-D3?T-EQ13+8C*+N!4DT,H")M4C[B M?VT.\0F!:X"

.:[[8A'S-CMH0D=;-+B%"1-(`?)0#R:7NKR9*CLM280(42 MZ']K#O019I#R$7*#@4?OH`WYQ,IWJ/S&'F'/+N1"2=0`BM0@R&?N[TW.-?FBN!;&RM>90A$#F"HV.9^A=TUNV]:(`1?]#IW843V-?-B?"*:R MPU>IF`%,E9N>S];[YMA*K)&E4U]^6P-XD1@I.7Y>-+T9*-P%F(!W;(8$X`8/ M^#<(W".7(Q:L?5.&[6]+['*UJ)A5V;;DS*\L;@!)ZE!(:&S0-9#07RMOWN30Y7M2+ZH`:2I02"AKD%' MA?*^T[[)!_T3BCK_!WD+,TPH+4YF4`?24&B[AJD%7AWP7I/:,HTS4 M`-;4()!0IX=[HWR2,X&(E$$2O!OT6%3V`YKM^:ONZ[MLT-_0PZL5]@*="R-^ M]IL90$36-`G\3<8G.`X*U9D`Y`R]Z!E70G79AKE-3D-#2`ESSP)"0UZ!?IP`UTPVHCQHYB_\H-M M2=\GR%OL2TA(JZ%C`TBN`S[)H&C0`Y%=>Y6W&":0EF>>A`0]?`FYCSX/?/IK M`D'EIDM"B?>]#O7:!USWN&&7SD:)E+XX?\M;!SE>'VS,YX]'-G"#=A_/*%RL M0JP>Y"SIUI%88VGU*HPU)CM="`G"1_8_AI77=YT9M)@Z)?] M]'3"Y"J.26"Q$QQV)I!,EX`H>$*DDAJ35PD`[?*>$EH'*E++9WP*$"'!Y71E M),RB*6NP=DE2&6V'E/KJU$2M3:0E-E2[!*B,IF.?B6HFHH:.*B])$1/)29FL M7;94RMT6*JSB3HQ:&L!'KH%JJ4\OQ^!:CL'3&?]YR\^`T_'U>#*XLV9#_FVM M1V#))1HZ_DJT>3GZZG3TK4?E.[B!GB^=,W=?&S!1/IFB7>F.'J9L//^$L4.G MV)7OZ-*M#,`\8YAV1]4@MW%"\!S)XB62+0R`/&60=D?,\1H2P/A6,:IT4%8G M2-[>`"H*C-7N<"E&#*0TT.<:2B?\3#,#:,B:IMTY<@I<0,+'6K^`A13]3#,# MT,^:IMT9,OA MU3WR@@*FEOV;CVB`9O382-SWLB6F0@<&,%8%#OTJ:F3VCZJ;9!.HR3%.OY(; M.R6'GHU7\$9>`BBOI4DL)`W4KV;&"'LXK6E<*:_X^%@N9P!'"L;K5TA#%)RD M3-@6JAR7))`0)6UN`#]R4_4M@%&\.=MO900)>X;I6.M"'QTT#@BZ@I09/.3;A^Y/I/&M91)&'Z M%9_X!8KW,D''VO![>@%'OL!@/,]$@`2F2)BKUH46D$3Z[,\TT).2^$ M*YDB4OCG3@_Y9LN#:,HFCZ:VFVDS^L%:(=MDYK9]QH5K[S5S)9P5#<341C/? M9.WBGXZFYFOW-.2$KRQ\3G:X)>;=6HF8\-O4WDL>^QZU:W0O6#CL)#'OL7W: MW4.28A^%?!3+F,%-B=W:!1RFXO4+V MN8[?@[R'JZ*0QDBKFEWCNG4H]KEYBY5$C>>A.+.QT26+JQK>IV$EKPDD"(>Y M_B/X$'PC7\549#7FKB((^L7=Y^L=#K8#V=L7-I>^#`S:1>X7C;N)3^PEH'Q. M*7PS6:4NS.52`HEVD?Z%0_$X2B5]F,NI#!3M<@**QF18X4BX5\7BOZMV-(4V M;QF4.X>,F^;\ZHZ@.!14[5(9"@=]J8&'3`WEG9H[+)1AJS,- M(O^\,YC/H0K+(N-WD[32FH,"X.E,;*J`J/3@6M381X>+C89.I M"T73="(7Z9!E+26N,6O5H=`OGZ%P6CV3*#R$(#TR[+HPWLV]"@COK`XL?V\@E[P5@3Q M:I)X?WH-`?.E96(/ZLH`I@^#2+_4CNQ+3H)5@83)UK>0+;'L09V2J`%4JD&@ M7Z;''S@7:M_9\1*M7WM]S)XU_7Q],_[E^C[E#(O4?;_?Z$_?%;I M`;J<$+Q!?`1=;;_P7=C0V]54L&R&-N'K:DK*%%3OR(Q)MS(\VH46_7&7PP9] M9HD'$S-\!_FZ9B,7IK2>X7INO6>YE`%#X'D@UB[&UUIA?H#Z/3@3C^?7R`/< M3F\1E'P*,J[#%ZW([FQE<1,85X9"NQBK/EP3R`^_0J/BFAEY+0W@)M=`_:*E M7CRG6D4_A0DO_T2>4U)=*:>A`3SDF5=CO%+^8U2QY`7<1[?A-29ESZE+133& M6LWD&@.*)*@_1?V&?FX5V$ME=,>]W&CM@G+X[E#X-6$?AK\3^\$H\:YDOUVA M`XWI.P0._>J+9K47I>P\?C5Y`%6QC)&4I8S6KP9I5N$)@6N^-O;A'!*RF[;Y M'CZHZET8&GM@9T;RJ@:3?A%#64LL.SR:16__%-7`;9OP%2/Q1FQEPI4Z,Y)P M-9CTBRW*FY+"#6]DR0BJ+Z!?L%$ZC[NHUW_)M!8!0[]`I$DVH?U M?6MXGE/4D;GD%L*C7Q02GT\BKW>?G[5_#:%#K[FQ/>RZT`X?**A3 MIMZ!"?Q5@$._`K!/\T,4G,;-X6LUVTY&HH[,);<0'@G)#;IGTDO\+B1?Q.HK;7'2$@;05FBPA)]F7UV[4W>$&8S] M?PKDI)H;QDS:5`DM#7I3DKI&B_($\+V4XGV3$3&,GJS)$HJ:](4D],TMP:7` M4[Z<861)C)*XPUTF;&\"/W%0)+0TZ19*Z*LYUA2*&T:,\ MUVG@ZM@/?2TY&&>:&T"-W%1)?':#3@OU(\+1)R<3J*L"AX3,!GT;0G7+<\0O MX2G;`%<,PS!;??\)KX3.2ET80&@U2"24-NCAR-??XJ.4D"T?D$%FAJ/-3HEZDQRE`3IQ-CP]Q2@39>8L!DD@;\L.D+.\-7T^M/Q&!;T?4I("]0X!<+)TU_TV)L> MCVUNKZ=$-5>!4^"9=':(&-;:()5U?$I493J<9O[PSJ&:J;'4T*9N?BI%G<4).2+DP;?!$C"=1]VX[&! M[D;C1SP:_?C^'Y\V`7B`,?*C\(<7IR]/7@`8NI'GA^L?7O@H&GW[[>LWH],7 M__C[7_[\_7^,1N`FCKR="SUP]P06T2ZYCWUO#<$"Q@^^"Q'8(=P5S*8_CF_1 MSD\@0-$J>71B>`3&WH,3DJZ3:+/=)3`&\S",'IP$\T9'^!_NRR/\M^U3[*_O M$_#EY"MP=G+R[>CLY/3L)7A\?'P)O;434[(OW6@#1B,B5>"'']^2_[MS$`1X M/"'ZX;/[)-F^/3XFG3[=Q<'+*%X?8V*OCO.&G_WESW_Z$VW\]A/R#SH\OLJ; MGQ[_]_O+A7L/-\[(#U%"Q$\[(O\MHK^_C%PZ``F6@-F"_&N4-QN17XU.ST:O M3E]^0EY)T)4?%&R>W'!-B6!%8"*GIZ=GKTY+;0DU1374NF2*.'WSYLTQ_6NY M-2;G)47S,O77Q^D?*ZU]CCB%)$Z<:,A=ZM^;Y$N\#,)6,I=Z]B=ME#A! M.VGW/5-ITQ64_.(2_W0@-/R4P-"#7BXVH]0$CMNDO>E0O_P@MOTN"P* M:7\@3`Q1M(M=6*&(__.;C`!4'R\$^B`D7Y"="5,G^RH,1Q\6+_Y>I@T(EYDH]C%T2Q!^/LC%$>B!.[^2_PCP*YLA;';H1WBVTR MRG5+NZ_B:",`0\XYDM#4L2J&RWOARD%W5.P=&JT=9TOWZ&,8)"C_#47[Z.0T MV^?_FOWZ-WP.BB'>FJ\\G(=X)B!*;IPGYRZ`5["*?Z6NK;^'-@+J?!^3 M>_PO"/P0C%TWWN&#HY_Q`=N4D2V0:Z.9'(+MYZ[]LCIQT/TYYN'-/FUAB.!% M%-]"<@N`[V&\AG'#\BKLHK7,R@JD!2?,`Y`SKP=@R@6LHAC$*1^PH8QL092* M4LJ+F=HT];>H76]AC.])X1K#/-K`RP@AQAK6U%)[R>*PUX$4H0/(A($H98`O MLB8V<$-B)\5!SX#L0ZRGG/%7ET\A;'K=P+$$^`:3P`T,$\:95=3:Q#;-$T-K M*;V^FLZN%K,IP#\MKB_GT_$2_V.QQ/]Y/[M:+L#U!;B^F=V.EW/%U%"439F>`6!O3.C"_+/D23P,'GV)4/O?H%!\%,8/88+?+"-0NC-$=K53IGB]JVQ*"V*#O)2 M!H!P&'TD+$#.`Z1,;`&"G.3']+80GC3\O8"1%>ELDY1K#E"KMI+WJR M@NG@+>,!*!-0Y@)^S?G\CRV84U5,=653F[+^$'@31RZ$'KK`HR3?`MEQKE>3 M:+.)PD42N1\9$!3WT\:@M&B:-DS*)+U)(`=OL]$*N)0)0(2+;0B45DL5@HI3 MUA\&E\1>M(N?J!#OX>:NMK7R6FKCC,->!UDY6;"P$46<05=Q(U3Z`%:8S#HD MM,$4[%\ M['E^0A]T;AS?FX<39^MC78NW98F.VE^"O'`ZG\:>"[[M^M[(#X&;,K(-7O+Z MJ.)-=;;Z`^`D"A\@OGCC>_AE%*Z7,-Z4[^8,](EZ:4-/4BPMT^">!0BI+69O M?@DPSU&"F=H&04F]5/&G-%]=F5BFD;LC9LDE)MM@43GXLY8!I8F1#E)R>H`0 MM`41K(&632%LE6J\R.(URT^H>3GT,*[(+@I#U^>ZO$ATTGN5E19*;\7(N5"S M[0$?6V"AIHV#!UG%.1KHVOBS$^S@V/W7SH\A%A,E[V%R'WDR]TA65[,72X&` M6DR>&U".# M>+WC6Q%]:6=\5XS&VE\27PC=Q3NW]`&?/`9XU*L&9?$`ML&,KXDJL&3FHT=.0(SZ4N#I2]9M)1SB68F=1Y]H"CW8 M1E$9>./VT(CFGC>%^RC`VD$S?.A)G@2/WYP.9A9_KC`ZGR=5=T;]"V<;H>\` MI$S>6@<>H1X:5W:)61G$A%DV:O$]RP2=3!HP.4)U9;]$]U&<4`/F$0AA0BY5 MGH_<:!?2GS\_.SWZ]IN_42M&Z%MG9Y?3'L\\F9-C$H$+Z"2[&(+W3OP1$CN3;0A444JC:Z/2 MM/6(1IB0N(N;.'KP/>B=/WW`-T82O_,`$9F'L9OX#W["-N9J$-)':FOAM8-Q M5D'TF'D.^3D[X!3\K-O6VZNJAF;-B>[S*?U_=XC:K]$RPM\=UI)//[M]G,4R M:AI+X0P@C?Y.6!EXKN].`7HK?R$76?SC7#)Z,@E(<`_^+?F9VD-VB(9/EKQ- M+/[.NE1YW8>@:]`-;B#<6\33QP!%$V&]>U=&0J:@ILV$Q!DF"D-(?8C!HY_< M6QH&VE9ADH9#P=3VA]P?88B_I@"?[\;>Q@]]\AWAKPIFCF0,P(IZ:>-44BP= M>&8LLHBE,A/;,"BIC"KTE":I3_-&X226FO&N=PG)040R7S&-&YPN!DP;8H&, MK8.IS15$>Q:VH4U&'75;A>P$=>V,521?FCH)SROKL)T1]ZQ&UD;\M%+*`),& MA+8MB!$.OLEWBZ/X'H.'G"=Z\+R(XLR.LXS&JY4?^'74R/71#QJ2$:DS@Y6I M!$CF1B/I:?.6%\5JU(:7]M.@/0>N@NR)-[4$8?K%(&MN%51TE5&.M/LQVW^1L,K'L' MP>O5&"&8M+G1UTAT>JMG"=R%`Y`?XC/?FK[@.829;8!NHR>5"SU_9OL$<)8Q MY7K5PDM!IJ\!R"J(V&7&')(P9_)N?/7C;`'F5V#Q;GP[>W=].9W=+C)7A]E_ M?9@O_PF^G,XNYI/Y\BO[4*V@RCJ[/QQ?^LX=/NA0"V_H*4-9NKLVFE4% MU0'TY7Q\/K^<+^<8L..K*1NQMN%454E5J+:;S@%6W24GTK#2R-PZNC051UA0 M!+]2FM9E,FD>,G-A:U!TOQ>EJ8_<($+X0+N$GY+S@!T$S6IMY+K#$4/+2(5) M@SUM#!I,'5#RUB%'H(:F.XMP.H9,3WP30Q)B/H4K&,=%YE&\.%XG]S#F7E!: M$NL@A;'*(+0.@D52XXQCD?:!/@%%A%MZ;3'JQ]WA@.5,9(;&/5"Z2`W=B?,\ MJT-^<->>%H2Z9XM)))+X@4R9OEJAW M,6F-8`K4I1&"INV=C!?OP,7E]2_6I>V540_'L""8,#L,NWOK,TDM5YBG%]#% M+=1Z>FX=9#U@_S0%EHO,L,^J!N.97J$_9]%QTH5\7@ MK`FH_KZ\;UF.49(S@/59*1#0_F;4A=7Y(+)3)_D: M[':%5%=+%?[!`V']'?CZY.CDA/XO=WYT=LE] M%/N_0^\[\.H-_LOKHZ]/7M,=_]6W1W\[^_KH[.R;O''VO.P@LD#BJSM-XPI> MG1X!HG7:Z3]W(02O3M+?'.%5%&V)@_D##)Z^(Q3?X+^5&+QZ?5IF4'+%;,O% MMD^'-?\5"K(/9I%^,"DG<&V?2[":8NI% M"[IS"S:9MH$$N,J_T_/;/\&9GR!(3I$KF9A+DV\[W0R/F[I<>XQVV[CU;=LVVA9;IHBK].W4%MA; M@CC;L*FD%!7;G$96N.9,Q8VE3SYLH_`BBC?4F)(>LBH(4.JJE;5854`=B.6\ MJD5OP&Y+'.ISAM9E.6NCIW)6XW8SV=\RF)Z92-+.*(1A,HTVCL]*NMK<5GN9 MXXJ@=7M+S\,%95LP)37PZM(EH?P>S:[$WX(8?L=A[H51;.TLRRNOB[[Q54(@ M+2=>W\4TR:EM!>U9G%1&7[.^2L_'@*'FW!2IK-;F`\S-)4YMBBU/#URV84J@ M!&%$>=MDG\UGJ6F6/?`Z9*39*Y<];#A0J?77.E6U$E7+H[?(K!ARWNG; M6F/E0Y;&[`X2',-8T,HM3(:XF`!96H(MV!,U:9=I*:M$S3A)@0<.KV$MJDQ` M].G$GKKR2"6U930VX(3.$T(KR4+%8RE?+FT#"U\#=<]I\3QT_%J8LKR%VR@F M)TKB7;BKKGO"YB9>"+F"F'@;3!F`@@-(6=B"(%E5-+P&2DQ*MRBZA6N:!2M, MKIQ-4W:@QF8&4-/,V`!:]H0!H6P?2)I'7@<'3^<]GJFR8H(D\DOT$-S<5O^< MQ1-!R^20UX`$-&3/YE=&*_YGW;.G`7TIE61[1O4#]3**,6AT"^PA3F>5!GM7>4T=Y\8-:UL[D4]HA:P/06]A8G9CX8E@`D-I M!A;KX,,==ZVDBUCW?>;X]KUY^),?>OGS!0,Q#0T-9/-F,>_HC&1E?#Q;"_4L MU_PYL.2L+HRW;W-X%Q/M]C0O/:BATCX\SR._M%J5[@"*8.FY,&C=/8;DH)`J M#"KJ:J8PJ*2`^DB7<)EJ+&4;^FE%HL_/3HZ^.7N3120O,!"SD.23YQF2K*+] MQ@JD2OCH<;L@E8G)\].Y$WZD)5+'H5<6F+4C"/OI+_JRHFG%W#$K-=N&0&EU MU(O-*TU5SU[SZ9E;N,8VMS7C)\\202M!B<5I*;F#;O2+YRM^D,1[%W[HA*3L MQDV4IM^13\#'[FHR$9]00*U-NCDAW_GX1GKF,V- ME8IC":(#O@M(CW-^:EA:Y?3QC1V9S8NM-0@Y1X[68QG&5L;7!ZLN'!]>@^XC)<\3:AG,]]8G]8]5!T&5VGPJ.)#MUG-''!!8E<_G8@CXUQ:@E M[QEJ-;V%B8.OWM[,B4-\]$)MC$Z0.GE,G*V?.`$78?P^ M^LY<,B)IA8$7#`#A,,+;;,;#-F1)J:+FYR4_/?WA[!?HK^_QASU^@#'^A*]V M1)CK52WQ\+F#?)>!.S4:VCAL);(.+G.&P$DY%MMM/17Z"-P1KK;AM97*JOC5 MF.9>#6KX1!IMX&6$.+E\2VU,F,'J++6\`V`"`DS+<-+==D(*\^J*)!W(W%8? M;8,EC06#/J-"4'*]^C&*/+2(`G:2M<-6!B)"&MGJ>7"A)#/V>#L7WXP1)FP; M,!CCKH>%DHDU4+T2426BG*;T<$"POL M(O`,%+'"NN0X.8K([<66`'6=CJ0-8Z<&TPSN,/8I1_".?Z1'>%0 M:VC.&:S&7`?6!57P*Z$+*&'K'&G88V=Z=C$TWVU*K9^C8!;6X>F__6G$31RN($+4!$3>;TX;'B7H; MK;<()DNMY^L244#]A?XX^[>)34Y;XH14`F4^25?%M@6AW&&7GT($X.C1B3Y> M.Z'_.WU]F40AONKY7EJ9-/1N\`3CA97^L^0W6ZRXPNJ@1FCK.^F;'**64W]) MD"-P(`I]=2X+0R[@A3A@+P_X-9?(NCW;J)YK<03FL=3C=6A#4G[^?BA@YK"( MY<_S;;,.E]+=]2]1BH)J/1*5>-$P0)*6,8\%1/2#\.`*XO._9[OSJJK::G>= M5A/<9W!K6-192RVM68D+D2^KL)^!L%9)T?2CL7Q*'GR9N0-]99]OJJPNZA&F M2O/48=V)(MBPX4"MT+G;BA,U(;5\,R3+3=#(4F!39&D[72D5FF#,:'\K7\DU MAGK&S$A.AFWL$S"M1):-_$V@I MN-:-X/FZ8K=55^TFH#71/88$L>(AKB`S"(C713_L1T(@34MI0^0+/I>%T+[X M%PE=U")>I&>GXTHWF&7L!//0@Y]^@M7:<^QV)FK;-+,V\*"240:4-,"T;4&, M;*;A6<2>B"?(=LXFV$# M$CK*NFTD-N&99.GN2O]&8Q8LROP]A=L88NF(K'S;;U-+`VZ*3/9Z?H=[LOD) MPC:D]Y$3J'Z`J.GT:D8.SE%(XW`^^<(`ZL8^YF*I>2(9":L^`BD+L.!,@&]LK%P\HE[:H),42P=V ME&0:*Y42I475`OI00&Y!I?QFML%/4CM5`"K-6G\07)*4%8;=5LLD)A1!Z\*4$<^-8BEY0.G;@B@I M)92-8I(3T:W3.TU.,\&X74E80S,@J0LY!&6!*K&Q!BZI*#L*:E2?K MV1G=<>N%OP[]E>^2>*%T#R:UVC$]%V^\/1GEY<6PQ6BOK#B;C/JD3TEZL!L:KDAIJ.,`@D#3C/J M`NM\H#E-\*674?V*U*1R265$\K'1'^!>$I.VDJ[&RO7[,SG@8?R(U)56]REJ M"^D^/:6W18'5TI7ZB1-UQ^UBP*-:+)">H22C3_;!6-EJTOMPY$R6FJ,:QJ5< MK)FZF[DL]-I?W$HERT@=,^A=1#%Q;X\1?`_C=:V6DUP?K2N;M$A:GE#EBG0^ M94/K2<+?=JPQDG)&[I,B.TYTK#T)+<78;[%?;IMWB7 MS$.4Q-0:^R%TTC2[L$BHRUA:Q/T,^#1*BJ9E:I=,+7IX,?CCU$@%@$Y&RJT* MT&JXMGV-TNJJ^W\J@;9';]`\ARN14/0NP&BL[__)%4++\9-0'I&\O(#0MMK^ MS=="S=538B[ZS\V#[V7IA2R[Z-,DZ0PT\?L8R]'#%4G[3$@CW-1NW/T/1,X< MU78\0^;KX>J$E;-'`G#M+5&SU0JZ";%TE2U4*!APOU$6UT38$N4'R@R?2XZ)%@JK>[6TG&"- MZ`1XE_"B$,I_UHLV:&"DE\SASIJ5C4.1V3T&=:U8AE;I`GH&]_4!96!Y(DN2_U%]AF_,#=4ZG:K5,P,VJ= MZ&2(7'.%D7$.8KM0UE7-F-$2O,,X>Y>K;S(/GHSF1IV\FP0QYN`M74NEUQ&T M\.FVNBB,2!D\-VXVL(:I/"3Q73";&ZTY9/J[."PX9#6>1&K@51BR`4_5X)YY M>)U;N;,\PX+CMP(!`Q8C56&U/!WN\;\P\OP0%);_+'*8XAN;&S'+\P0Q`O3T>=@^Q/"'WF2T%T]"C[$K^X"Q M]"UIO$ONHYAXW#)@Q.NA'ZX:[@8!NV))11"V20G9P>D]C1XP\# M3-D?]1/1'3#1]ZT1UUOH7D()QQD[RT(<#K66Z:YAROM=[WRZ_A)WBTE$,XW` MD.09D7^S5"1B9%54%UIWH/)(5R:O(IAT-9:("740?/\*.?#Z+31[#T6*OQ"-9$H*M',(ZP M1A[!=I@+,0'Y.9]^'\`TAR?W`-9VC!8]?G'T)/GX)03M,.O_)`H"Z*:9U\;> M`ZF1N(S&JY4?^/7"5BT(&-T;Y(0U\F26[107T$G(T<7:VMGJZN'M'"J3V7-) MVS1%S707DVQ_:0J&]-+J_FOG(Y]Z?3#@*M_?3`%<%5%-YRGR:2!XF$XB>/23 M>]N#R5JKKK%"JOHT][KNKB!"6`0GN(#,4T^MF8DUM)&QYB-J01.LH'UX8@VZ M8?WCJ'L0ZRH^N5_'-/VI1[.)Y(5?Q%969D^3UE:1>,;6-'P_`P^$@VW84E`& MQ^HJ-UD:^?NNKZ:SJ\5LBG]87%_.I^/E;'H^OAQ?36:+=[/9OK*#";MK+IZQ@^L\1);\1:HZEI[V,UQ?.-D+?T4Q=_#Q`0PY/ MXBW#R!B'V#AD]53=-=0`VO>#G<"'J]+(T`.>R?5^O%C@ED\U!;"K/54FH#RF2_P3_EW^ M*_Q_=PZ"^#?_!U!+`P04````"`"8@4Y`>I\"<802```O*`$`%0`<`'EC;F`L``00E#@``!#D!``#M M7=USVS82?VYG[G_0Y1Y\-U/'<=)>DTQS-[(^$DT=2VG)P_?7;2 M(I'/`AK-WIQ0P4Y?OOSAU>GYR;__]9=O?_KKZ6EKQ%FP]$G0NGEHC=DRON4T MF)'6F/`[ZA/16@K9M-7KOFU?BR6-24NP:7SO9%JVF'SQ3(FO#6( M(G;GQ?+9XCOYC__T._G=XH'3V6W<^GOG'ZWGSYZ]/'W^[/SYT];]_?U3$LP\ MGG3[U&?SUNFIXBJDT:?7ZL>-)TA+RA.)-T]NXWCQ^NQ,-?I\P\.GC,_.9&:JJAT&2EB/-7KUZ=)=]FJ65W0;PAS_;^PUGZY18UU;"S4:X$])L4 M4M)* MI'D=/RS(FR>"SAWZ\ M[B?T;DCXYL2XV5E=%K.#31#_Z8S=G06$)AI2?R3LGSX[7YG.W^1'']/'7Y,9 M54^-XBMO3K88!LFR#&;!;/,\LQ[WUUW*/Q,D3\"QOJ(X6\A),8I/_5L:!NO6 M4\[F-12X9H)I9)`SLN2&+51#+SQI,1X0GD[U1]'_6I")[+9$[[FOD>D[+UJY MGI\?6\\CPBF3,@1=+]8I/$^'5/-;PI9#\.)8$+0E2X%BJQ]ZLQ+5Y[]'IO(M MX"B466X*6*__ED)KLF`\EF-B+/6X M%+"!E).CA`,2O1R75\?%Y1<6+J42>3IH8$"VZ5`B41`6V*8].RX&OY(P_#EB M]]&8>()%)!@(L20B M?=F^ZO3&[WJ]R7C7(*]!S\<(\1JPL<]XGWKB)ADZ2W$Z\[Q%.NA)&(OU)]NC M?_7Q1^4R$#4:AM,^C;S(IW)(,$$U`>%:3?%B"R9,:[(*%, M&1+U0`'B!K"0%D4&\L_MV55#Z`HFN6%4JOV,<,XAT!:"Q*+"G+>(7-%\8=!D MM;\MF*.:7^W3C`#8ID6$0T',`YVA[`Y'QQ.WTE52OWJ_+^F=%TI^13ON>)P_ MR`WT+UZXA%8+L[8HX#)4PX'.7W:';Q#=2489?[@BD!'E2%"`D1?J0`C4U"*5PP M\G@RCD)/"#JETJFMWA\;]H`"O%HJ`1#=.YUUCR/!6\;C">'S"R_ZE&SUY5R1 ME0DZ(:QLAP(]`_$!S"R&.#HLNI.[?:JB,1E6]897T0@%6E6"`U!9C'1LK<-; M$T0=QZ2\*0K8S)0`@&+&1JP)V5VZE+5%`5N9DH`P',C6%(]2>*`(B<2H/$7&*?%VC%)[%'( M^G''YQ;C'IEK=MHLJ&TR%%`4A0,`L)FO$00T96?DT6`0K4[L,JQ#+GMU0Q0@ MF2@`@,UB*&/"B2>6_*'2U<,1^WKWM7D M76\RZ+0O#W??,/\8-RX?YGEJIM1O5Q&_D*N( M0$%)*I)CEF$$')-MSCI+#+M&8U>T7[INUE6$?50R0=YM5Z9^>_S8Y-7AWK7% MQQ"(9''($XF#9"\^(CRIBE4=K@-;.@U?+14X=V&Q4+NLO8SE-*"R\*L!*[3` M!E119.=N-Q:X36H$&8.SHL8)S%I4YVXNUBA\:-0$)SP&90Y="7NG#)O$O5>4 M*!`I%;'BYN%1HQ?CB?SY7F[-QL/^<-2[;D\&\MM&(Q?`(ZQ%+0!^;*6*2\[) M9C!5'&=#U+:WPNY'*0SU_342\85$(II!X)KA3&.3UW MF(B'T[>,!6+,0MBUSE.AT'I!-.CP] MC/[5FX'Z+Y"AT']1..:G71-4."B%]JY"D1O2229 M"R6S[6!.H^2=83&](RO6H=6_HA4*I"I%=ZX4T7N/?R*9Q0]`IT"&`HZB<,Z5 M%KI0[S65BUZ'S6]HE*K0_WU)TVK+J]-`9?O04E.C`Q28U5&(>Y6)"KZDJ5T0!CR_`,A1(`0+ZVX)(KUSN$V%!(8MT335AA!>^P#G M@;K3'PXT->)J:@[A6]Q(7.F:Y&EPH)<72U-Q"!UB/8]'HWXZ" M+@V7,9C>5=4*!:J5HKM7KNA70F>WDK?VG9Q+9N1J.;\A?#@MI$$EH@#8U>L# M!9(UU>)>)2-`@-5(-$WMJ]L+9FQAU6@*)%E,/!OV.^_:5V][X\'5^%W[NO=N M>-GM78][__DPF/S6[?4'G<'D,/EH1D^VGZ9FQ*;E#"0YI=0OS6+2UG9J%9[, MMEI8X,QS2V51[QY@$5%OF_I,*U/>2MNX`E5U]ENYR,Y!E,D\?T_4.@2F:&W3 MN0*%;FP!.?9K29U#`ZB"HT5&WP8;2A4:<"['+G=/0(M3&24V=$JE=>[BW36) M/>E_!^O=L!86@!@;,I#,SJ73;0G497/)-Q23*:7%!@T@L7N)=E]O)5A>3+X6 MCLHY834CSPO"*0LD(SRV6_ZK^BXQO@O$)K>&=TA>V!^S\AH8BE$O\LEPFG'[ M/\@)N,_X/-'N%C*&C9S&RE3P!AVV7;5?>FFX5M,_`1+Z:\46?;2$U=36TXJ- MH\1,DX(;5^0^^09V#DS:.HU>334XZ,B5\IT.MQWQVVZ,&<""(IR[:,E M]V\](><5[3LY:W6!&4U`*<[=T=`.QOU`!?K`C"JD%N=N<^A&95IP3-VN4T[` MIOC8F/B2,GG!!HFE:,'_EFEVXBZV7/\9F(?%KFIU[A**=MA7"KC+]%#=*>:! M8:RX)B^PE.]^>M,I\>4`5&49N"#O"9\5HL\PG=,@:,337$HYI%[!C:2.&J>. M]=M%FZ^MUDW6F9MDNRQON>9.XU9?&>[="M%.KKLC6=(>,Y1EZG#O(LDZ`5A= MW9RKQ/RRL&<%,0Z4`$'=>Y>U=CS5PVN'GG"`N8N*W'O'=9?K.OWX!/NW>7+L6+^UT_'$;3]D]U6% M(K5-;"<:HKRC`VH>Y]6EEJ*(TXNZ-RPKIX^"#WM8-H4RVH M[01Z$8!(=1LG/7B=ISQF/Z1Z+_X;1/(T_*&3#F6;YK>M?V91D%%'<`20A1( ME`G88(8H\!)LN?0EZ*],L<]X54Y091.GM6TF=(,IG(#>'^];I#$X$\57MG%? M\]5B.Y<&*3U%=6Y$NB3]G?$-5S?_JU^L9MJ!TP#NHA#W:G$7N5>E5R/Y-#AI M5=\&*6@YL1NHU^W0H6=1V!$G"[F^=E>2K*L?1T'R%@WMA88=.T,Z*LP4U4!I M<*>'2]M/MXBKUZ^K-W?X/I?KU27U;FBH2W#?L3.DP\5,4>YED99-AZG3O9+D MBI@OYR5-D<)9I@3WTD;-H^Y['T?@`+*.0AHH:.Y,&65`[K26?@/G4[J.,`\, MK8+\60+<9L&M][8#HJ3(\"-(VX#=1`=\CO6@O:9[P=W*E" M%!/6GDZEVR!9J\"VO`TJ?`&Q_USYIW+J\0D)1%\JJL/"D/CIL8PYX.8=X$"_ MAD+<2VM]G)M6J=-2'.EEQ`^CT(N2-U'*3Q>*I')NKNP`!YPU%-)`:JQ+EOTX MC:6Q6X/7$NK;H`(<$+N!/%J',#;W'_=VK'&@7T&%H%`0/$8E@L[YQL+KNI6W!&[EF^!0K@M"(#"%F,?679O6(Q64=>#>#) MD:/#)B\L`(S%C*$LKRN78.1)/]#0=@I-T`%4%!H`R68D*<-O:?%+`Z3*VZ&# M"Q`?P,SBU>5KLEBYW,.IP8P'DJ-`"!86``9I6"@KI^%LJ6V"#ESCV?(53H!' M&TGS"=@5@8$".0I@86&!FP)(0S[FFYR]=W\X@*^C$&`H['##VGXX0`G=C@+U M2\4W[[Q0#?^T#LYV5@$P%&IU@6(PU%,*,!Q01H?*)6]+V^#\09I!4FNEUCC8 M;HMX`!34`"#_`N_K1`Z./Y:J&J;"0&/@^_VM_U"E-M2UN9"))2=#/O.BS?VZ MBZ60&A'J9IUZT;/T@4:91^]:=F/'IQVC!,>.K-FQS"R+'18)%M(@-9LHR+*W M\5R]<#/2JT+YS?1M:PL8:H2Z[:?.5':W]:SG1W7MK-/MF,$:5G-"NO=(G*FX*DZOS(W M6?/VEJVV'!-]8510%=9-=7S+>#PA/,FO6!TV3MC%N/]V?\O5]'U<0]8PTDPY M!W6"!UAIX6MK%6U6.E#,5!IC.;$ERX,TG*]C4RZ>=0/+'O2N74%+M\(D4-!5F?`;)Y M/.J"?&.3`-3Q<> M+K&JII*L+Z)J4=_?J)->CFN^R2._&`! MT!86V=4WZL>-)XC\Y/]02P,$%`````@`F(%.0!X=4@&O!@```C```!$`'`!Y M8VYG+3(P,3$Q,C,Q+GAS9%54"0`#3\XZ3T_..D]U>`L``00E#@``!#D!``#M M6EMSXC84?M[.]#^H>:AW9]88)YMMDL+N$#`),P12S$[;IQUART03(WDE.0G] M]96$#08;QV2S::9#'H)MG?.=RZ?+L:7&YX=9".X0XYB2IF'7Z@9`Q*,^)M.F M@3DU3TZ.3TW;^/SIYY\:OY@FN&;4CSWD@\DB->(Q%@AP&HA[R-![T/+O(%&J;3J+8H$8Z!%"[Z"0MOE[>>/5WLNV:,[P M]$:`M^UWX+!>/S$/Z_9A#=S?W]>0/X5,P]8\.@.FJ;SBW@V:02`#(?S,1[AI MW`@1G5G6PX2%-8Z\VI3>6;+!DD"V6;?-(]M(Q`,<+L7G'IEJ%0FM1>U#)0B% M8'@BW>U2-NN@`,:A:!HQ^1;#$`<8^3)C(9HA(M8$,LT"LBD2`SA#/((>>LR@ M]FPII,*^/ZI1-I4B==OZZZKOZH#3$!Y"3&Z+Q.W3TU-+MZ:B.4EM/8$^LE3S M!'*T1):MN$0>$RX4H5EY7ZRG/Q$^MA:-J6C,S2F$T5(V@'RB99.&`JH()22> M%;OC"V:)>80L*61**<2P9\B^\:8!90\3NH>I6WD?19@$5-^\::B(S]*P1R@` M.EUG"JIYP/$L"M%!\NR&H:!YH"@S4ZJ^1@S5I'.I"*.A5-N:+M5L214NNXKV MJ+\RG$)`YN50+%X0_N;@IC+&,`ZN++J+?$*YSA%HYAGWUM#P<=9^`Z'7GA#ON] M3FOL=,Y;_=:@[;B7CC-V#P#VFP<591N6GNOP[K`,3N'+I:S\,*;< ML?Q_Y0S&[K#;;KF7W?[PS\<8*]8I8^YC1>96R!0H;:/`]APF''.Z/6N"=;=UBP M,DIE*]:')ZU8*_`]BY58E`7$96MPX;B]@7O9&CF7PW['&;G.'U]ZX[\[3K?7 M[HVKDEL)JXSSXUTYUT7*PB;H#4#6ZJ\PHOQWL#`.WB;FW^V[16$A0XDKJ'>[ MK7))F\O(.RTL52@!6G6?]US>NP@*^7,%V2U2-5S+^Q9CKF,HXJ%,O(R7DQPO M"1)80H$,UIZH'%'9:E!6[\D7V,(R?YMH68%RF"-HK6[497X*M&^"8EYCP24S>#&**HB73:(;,U1HIV]5.0LH$`&:T]3Y8]3UW+)'HPO MG7&OW>KO\J5J7;&,O*,G?;8":P;VC.:FQ2&;0H+_T?:'P;G:LT*I>3*5OH/N1XRJH#I;^G(4?#"$G;R+^&3,S+2H]"N3(Z[!P="030&/N:8SLG M'30111SHY]MR_N&CFJPV[IB%8K,Y^J%,B9Y'DA_IJ,#4-/V;: M,P/HC6UC(<$%D^_K/5G)*BD#P(E\`CV1XL@IR0AP^+7L1:>5Z!B`Q_(2BU@] MO6`TCE(S6!I81-@TJD&];'B;9<>.(6U7_]XP%N=KS@1Z$.I;;O8.Z8_2I`/R:T92B[O5RNW-K,31+04^$>25>5)$Q@J-:WIN$QY&-1 M/31[FVI#? MG$-9*3L/$2)FZA:\.T`^#HCSGX*>:Z@US%5W`UK\0XA+_\% M4$L!`AX#%`````@`F(%.0"%;L/HT0```"R0"`!$`&````````0```*2!```` M`'EC;F&UL550%``-/SCI/=7@+``$$)0X```0Y`0``4$L! M`AX#%`````@`F(%.0'WIANUG`P``"AD``!4`&````````0```*2!?T```'EC M;F`Q0````(`)B!3D#%,=[82`\``-OG```5`!@```````$```"D@35$``!Y M8VYG+3(P,3$Q,C,Q7V1E9BYX;6Q55`4``T_..D]U>`L``00E#@``!#D!``!0 M2P$"'@,4````"`"8@4Y`'('65Q(?``"YD@$`%0`8```````!````I(',4P`` M>6-N9RTR,#$Q,3(S,5]L86(N>&UL550%``-/SCI/=7@+``$$)0X```0Y`0`` M4$L!`AX#%`````@`F(%.0'J?`G&$$@``+R@!`!4`&````````0```*2!+7,` M`'EC;F`Q0````(`)B!3D`>'5(!KP8```(P```1`!@```````$```"D@0"& M``!Y8VYG+3(P,3$Q,C,Q+GAS9%54!0`#3\XZ3W5X"P`!!"4.```$.0$``%!+ 4!08`````!@`&`!H"``#ZC``````` ` end XML 13 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Common Stock
3 Months Ended
Dec. 31, 2011
Equity  
Stockholders' Equity Note Disclosure [Text Block]
3. Common Stock


Our authorized common stock consists of 60,000,000 shares of common stock with a par value of $.001. The following summarizes our common stock activity for the period from August 22, 2008 (inception) to the completion of the reverse merger on March 30, 2010:


 
·
Upon formation on August 22, 2008, Youchange, Inc. issued 1,000,000 of its common shares to its founder and Chief Executive Officer, Jeffrey Rassás, in exchange for $1,000.
     
 
·
During fiscal 2010, Youchange, Inc. issued an additional 4,000,000 of its common shares to unrelated entities in exchange for $4,000 (except for 40,000 of these shares, which were issued to an officer / director).
     
 
·
During fiscal 2010, Youchange, Inc. issued 1,500,000 shares of its common stock to Mr. Rassás in exchange for certain intangible assets related to the youchange.com domain. This transaction was valued at $2,500.  Although it may require renewal from time-to-time, this intangible asset has an indefinite life and accordingly is not being amortized.
     
 
·
During fiscal 2010, Youchange, Inc. issued 683,197 shares of its common stock upon conversion of $500,000 in convertible notes plus $13,681 of unpaid accrued interest.


As described in more detail above, on March 30, 2010, BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange, Inc. from Youchange, Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.  Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.


In conjunction with the reverse merger, the Company issued 1,456,000 shares of its common stock as partial compensation for the purchase of the BSFG.  The shares were valued at $0.34 per share, which was the closing stock price on March 30, 2010.  The total fair value of these common shares of $495,040 was expensed as an acquisition cost.


As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction.
 
During fiscal 2011, we issued common shares for the following transactions:


 
·
During July 2010, we entered into a one-year consulting agreement with Naser Ahmad through NOMA Enterprises, LLC to provide services as Chief Technology Officer of Youchange, Inc., and issued 333,333 shares of our common stock as compensation for such services. The term of this agreement is from January 1, 2010 to December 31, 2010. As of June 30, 2010, we had accrued $60,000 of compensation expense, which was paid by way of the issuance of one half of these shares.  We recognized the remaining $33,333 of expense during July 2010 for the 333,333 total shares issued, which was recorded as professional fees. The consulting agreement has not been renewed as of the date of this filing; however, Mr. Ahmad has continued to provide services to the Company on a month-to-month basis for $10,000 per month, and we issued an additional 142,528 common shares during June 2011 as compensation for the six months ended June 30, 2011.
    
 
·
During July 2010, we entered into a licensing agreement with a strategic partner for access to a database for pricing of used consumer electronic goods.  We issued 193,322 shares of common stock upon the execution of this agreement and were required to pay $35,000 over the first year of the agreement, and under the original terms, were required to pay $63,000 over the second year of the agreement and issue additional common shares valued at $30,000 as payment for the second year of the agreement. After the one year anniversary of this agreement, we have agreed to terminate the provisions and terms of the second year and negotiate a new agreement that is more conducive to the current economic status and needs of the Company.  Until such time as the new terms have been reached, the strategic partner has agreed to continue providing access to the pricing database. We expensed $54,130 as general and administrative expense for the issuance of the 193,322 shares of common stock during July 2010.
    
 
·
During December 2010, we entered into a one year consulting agreement with Mary Juetten, through Protect your Intellectual Property (PIP), LLC to provide services as Chief Operating Officer of Youchange, Inc. The term of this agreement is from October 1, 2010 to September 30, 2011.  During fiscal 2011, we issued a total of 625,625 shares of our common stock as compensation for services and recognized $160,250 of expense for the issuance of these shares, which was recorded as professional fees.  Additionally, we recognized expense of approximately $18,000 for cash-based consideration paid to Ms. Juetten’s for her services as Chief Operating Officer of Youchange, Inc, which is also recorded as professional fees.  During the first quarter of fiscal 2012, Ms. Juetten resigned from her position with the Company.
    
 
·
During March 2011, we raised $250,000 through the sale of 1,000,000 common shares in a private placement transaction with an accredited investor at a sales price of $0.25 per common share.
    
 
·
During June 2011, we issued 28,506 common shares to Richard Papworth, our Chief Financial Officer for services rendered.  We expensed $12,000 as professional fees for the issuance of these shares.
    
 
·
During fiscal 2011, we issued 615,886 common shares upon conversion of principal and interest previously outstanding on convertible notes payable.  These transactions are discussed in more detail in Note 7.
    
 
·
During fiscal 2011, we also issued 81,439 common shares in exchange for other professional services.  We expensed $29,022 as general and administrative expense for the issuance of these shares.
 
During the first six months of fiscal 2012, we issued common shares for the following transactions:


 
·
During the first six months of fiscal 2012, we issued 86,097 common shares to an entity controlled by Naser Ahmad, the Chief Technology Officer of Youchange, Inc.  We expensed $30,000 as professional fees for the issuance of these shares.
    
 
·
During the first six months of fiscal 2012, we issued 17,219 common shares to Richard Papworth, our Chief Financial Officer for services rendered.  We expensed $6,000 as professional fees for the issuance of these shares.
    
 
·
During July 2011, we issued 436,337 common shares upon conversion of principal and interest previously outstanding on convertible notes payable, of which 103,296 was with a related party.  These transactions are discussed in more detail in Note 7.
    
 
·
During the first six months of fiscal 2012, we also issued 39,725 common shares in exchange for other professional services.  We expensed approximately $10,000 as professional fees and approximately $3,000 as marketing expense for the issuance of these shares.
 

EXCEL 14 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\Y83-C-#DQ,U]C-C!E7S1A9C-?8C8X,U\S9C@S M8V-A,#(X,S8B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-/3D1%3E-%1%]#3TY33TQ)1$%4141?4U1!5$5- M13$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=OF%T:6]N7V]F7T)U#I%>&-E;%=O M#I7;W)K#I7;W)K#I%>&-E;%=O#I7;W)K#I%>&-E;%=O#I7;W)K#I% M>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C M=%-T#I0#I0 M#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D/@T* M("`\8F]D>3X-"B`@(#QP/E1H:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I M=&@@36EC'1087)T7SEA,V,T.3$S7V,V,&5? M-&%F,U]B-C@S7S-F.#-C8V$P,C@S-@T*0V]N=&5N="U,;V-A=&EO;CH@9FEL M93HO+R]#.B\Y83-C-#DQ,U]C-C!E7S1A9C-?8C8X,U\S9C@S8V-A,#(X,S8O M5V]R:W-H965T'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA2!296=I M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$"!+97D\ M+W1D/@T*("`@("`@("`\=&0@8VQA2!#;VUM;VX@4W1O8VLL(%-H M87)E'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$2!6;VQU;G1A'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%\Y83-C-#DQ,U]C-C!E7S1A9C-?8C8X,U\S9C@S8V-A,#(X,S8- M"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6$S8S0Y,3-?8S8P95\T M868S7V(V.#-?,V8X,V-C83`R.#,V+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R6%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6%B;&4@+2!L;VYG+71E3H@0V]M;6]N('-T;V-K+"`D,#`Q('!A3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA6%B;&4@+2!S:&]R="!T97)M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M;G5M<#XD(#(Q+#@W-#QS<&%N/CPOF5D/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$;G5M<#XV,"PP,#`L,#`P/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879AF%T:6]N(&]F(&1E8G0@9&ES8V]U;G1S(&%N9"!D969E'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S6UE;G1S(&9R;VT@1F5A='5R92!-87)K971I;F<\ M+W1D/@T*("`@("`@("`\=&0@8VQA'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S6%B;&4\+W1D/@T*("`@ M("`@("`\=&0@8VQA6%B;&5S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$;G5M/B@W+#4P,"D\'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`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`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`@;V8@8V%S:"X@ M1F5A='5R92!-87)K971I;F<@;W=N2!A;F0@1F5A='5R92!-87)K971I;F<@96YT97)E9"!I;G1O(&$@4F5S M8VES&-H86YG960N($%C8V]R9&EN9VQY+"!T M:&4@9FEN86YC:6%L('!O2!B96QI979E2!O9B!A(&UU='5A;"!M:7-T86ME(&%N9"!I M;7!O6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P M=#L@5$585"U)3D1%3E0Z.7!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM M4DE'2%0Z,'!T)R!A;&EG;CTS1&IU2!E>&5C=71E9"!A(&YO;BUE>&-L=7-I M=F4@9G5L9FEL;&UE;G0@86=R965M96YT('=I=&@@1F5A='5R92!-87)K971I M;F<@;VX@36%R8V@@,CDL(#(P,3$N)FYB2`D.38L M,#`P(&%N9"`D.3F5D(&EN=&5R97-T(&EN8V]M92!T;W1A;&EN M9R!A<'!R;WAI;6%T96QY("0S-"PP,#`@2!R96%L:7IE9"!A;F0@86-C;W)D:6YG;'DL(&AA2!A;&QO=V%N8V4@9F]R('1H97-E(&)A;&%N M8V5S(&%S(&]F('-U8V@@9&%T97,N/"]F;VYT/CPO9&EV/CQS<&%N/CPO7!E.B!T97AT+VAT M;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@ M("`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`R,BP@,C`P."P@66]U8VAA;F=E+"!) M;F,N(&ES&-H86YG92!F;W(@)#$L,#`P+CPO9F]N M=#X\+V1I=CX\+W1D/CPO='(^/'1R/CQT9"!W:61T:#TS1#(E('9A;&EG;CTS M1'1O<#X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/B8C,38P.R`\+V9O M;G0^/"]T9#X\=&0@=VED=&@],T0S)2!V86QI9VX],T1T;W`^/&9O;G0@3X\ M9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/D1U3X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL M:6YE/D1U2!R97%U:7)E(')E;F5W86P@9G)O;2!T M:6UE+71O+71I;64L('1H:7,@:6YT86YG:6)L92!A2!IF5D+CPO9F]N=#X\+V1I=CX\+W1D/CPO='(^/'1R/CQT9"!W:61T:#TS M1#(E('9A;&EG;CTS1'1O<#X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE M/B8C,38P.R`\+V9O;G0^/"]T9#X\=&0@=VED=&@],T0S)2!V86QI9VX],T1T M;W`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`Q,"P@=V4@96YT97)E9"!I;G1O(&$@;VYE+7EE87(@8V]N2`Q+"`R,#$P('1O($1E8V5M M8F5R(#,Q+"`R,#$P+B!!'!E;G-E+"!W:&EC:"!W M87,@<&%I9"!B>2!W87D@;V8@=&AE(&ESF5D('1H92!R M96UA:6YI;F<@)#,S+#,S,R!O9B!E>'!E;G-E(&1U6QE/3-$1$E34$Q!63II;FQI;F4^ M)B,Q-C`[(#PO9F]N=#X\+W1D/CPO='(^/'1R/CQT9"!W:61T:#TS1#(E('9A M;&EG;CTS1'1O<#X\9F]N="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D]. M5"U&04U)3%DZ3X\9F]N="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U) M3%DZ6QE/3-$)T1)4U!, M05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!, M24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU M2`R,#$P+"!W92!E;G1E2XF(S$V,#LF(S$V,#M5;G1I;"!S=6-H('1I;64@87,@=&AE(&YE M=R!T97)M2`R,#$P+CPO9F]N=#X\+V1I=CX\+W1D/CPO='(^/'1R M/CQT9"!W:61T:#TS1#(E('9A;&EG;CTS1'1O<#X\9F]N="!S='EL93TS1$1) M4U!,05DZ:6YL:6YE/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!W:61T:#TS1#,E M('9A;&EG;CTS1'1O<#X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/B8C M,38P.R`\+V9O;G0^/"]T9#X\=&0@=VED=&@],T0X,24@=F%L:6=N/3-$=&]P M/CQF;VYT('-T>6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N=#X\ M+W1D/CPO='(^/'1R/CQT9"!W:61T:#TS1#(E('9A;&EG;CTS1'1O<#X\9F]N M="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ3X\9F]N="!S='EL M93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=) M3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U M.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU'!E M;G-E(&9OF5D(&5X<&5N2`D,3@L,#`P(&9O6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N=#X\ M+W1D/CPO='(^/'1R/CQT9"!W:61T:#TS1#(E('9A;&EG;CTS1'1O<#X\9F]N M="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ3X\9F]N="!S='EL M93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=) M3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U M.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[ M(#PO9F]N=#X\+W1D/CPO='(^/'1R/CQT9"!W:61T:#TS1#(E('9A;&EG;CTS M1'1O<#X\9F]N="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U) M3%DZ3X\ M9F]N="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ6QE/3-$)T1)4U!,05DZ8FQO M8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A% M24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU'!E;G-E9"`D,3(L,#`P M(&%S('!R;V9E6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`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`D-BPP,#`@87,@<')O9F5S6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[/"]F;VYT/CPO=&0^ M/'1D('=I9'1H/3-$,R4@=F%L:6=N/3-$=&]P/CQF;VYT('-T>6QE/3-$1$E3 M4$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N=#X\+W1D/CQT9"!W:61T:#TS1#@Q M)2!V86QI9VX],T1T;W`^/&9O;G0@6QE/3-$)T1)4U!,05DZ:6YL:6YE.R!&3TY4 M+49!34E,63IS>6UB;VPL('-E3X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/D1U2!O=71S=&%N9&EN9R!O;B!C;VYV97)T:6)L92!N;W1E2XF(S$V M,#LF(S$V,#M4:&5S92!T6QE/3-$ M1$E34$Q!63II;FQI;F4^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('=I9'1H/3-$ M,R4@=F%L:6=N/3-$=&]P/CQF;VYT('-T>6QE/3-$1$E34$Q!63II;FQI;F4^ M)B,Q-C`[(#PO9F]N=#X\+W1D/CQT9"!W:61T:#TS1#@Q)2!V86QI9VX],T1T M;W`^/&9O;G0@6QE/3-$)T1)4U!,05DZ:6YL:6YE.R!&3TY4+49!34E,63IS>6UB M;VPL('-E3X\9F]N="!S M='EL93TS1$1)4U!,05DZ:6YL:6YE/D1U'!E;G-E9"!A<'!R;WAI;6%T M96QY("0Q,"PP,#`@87,@<')O9F5S&EM M871E;'D@)#,L,#`P(&%S(&UA'!E;G-E(&9O6QE/3-$)T1)4U!,05DZ8FQO8VL[($U! M4D=)3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ M+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\Y83-C-#DQ,U]C-C!E7S1A9C-?8C8X,U\S9C@S8V-A M,#(X,S8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.6$S8S0Y,3-? M8S8P95\T868S7V(V.#-?,V8X,V-C83`R.#,V+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M6QE/3-$)T1)4U!,05DZ8FQO8VL[($U! M4D=)3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ M+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU6QE/3-$1$E34$Q!63II;FQI;F4^ M3VX@2F%N=6%R>2`Q+"`R,#$P+"!9;W5C:&%N9V4L($EN8RX@96YT97)E9"!I M;G1O(&$@)#6%B;&4@86=R965M96YT('=I=&@@=&AE M('!R979I;W5S('-H87)E:&]L9&5R6%B;&4@=V%S(&1U92!I;B!T M=V\@97%U86P@:6YS=&%L;&UE;G1S+"!W:&EC:"!W97)E(&1U92!O;B!!<')I M;"`Q+"`R,#$P(&%N9"!*=6YE(#,P+"`R,#$P+B9N8G-P.R9N8G-P.TEN('1H M92!E=F5N="!W92!F86EL960@=&\@<&%Y('1H92!F:7)S="!I;G-T86QL;65N M="!I;B!F=6QL+"!U;F1E2!T:&ES(&EN=&5R97-T('!E;F%L='D@:6X@8V%S:"!O M'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA2!!9'9A;F-E2!46QE M/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U)3D1% M3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A M;&EG;CTS1&QE9G0^/&9O;G0@&5C=71I=F4@3V9F:6-E7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^/"$M+65G>"TM/CQD:78@6QE/3-$1$E34$Q!63II;FQI;F4^1'5R:6YG M($YO=F5M8F5R(#(P,3$L('=E(&ES2!I;B!D969A=6QT+CPO9F]N M=#X\+V1I=CX@/&1I=B!S='EL93TS1"=$25-03$%9.F)L;V-K.R!415A4+4E. M1$5.5#HP<'0[($Q)3D4M2$5)1TA4.C$N,C4G/CQB6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@ M5$585"U)3D1%3E0Z.7!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE' M2%0Z,'!T)R!A;&EG;CTS1&IU7!E.B!T97AT+VAT M;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@ M("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$ M)W1E>'0O:'1M;#L@8VAA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`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`Q,"P@=V4@:7-S=65D(&$@)#(U+#`P,"!C;VYV97)T M:6)L92!N;W1E('=I=&@@86X@=6YR96QA=&5D+"!A8V-R961I=&5D('1H:7)D M('!A6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U) M3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T M)R!A;&EG;CTS1&IU2`V+"`R,#$Q(&%N9"!B96%R M2!A8V-R=65D(&EN=&5R97-T(&UA>2!B92!C;VYV97)T M960@870@86YY('1I;64L(&%T('1H92!D:7-C6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=) M3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U M.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU65A M6QE/3-$1$E34$Q!63II;FQI M;F4^)B,Q-C`[/"]F;VYT/CPO=&0^/'1D('=I9'1H/3-$,R4@=F%L:6=N/3-$ M=&]P/CQF;VYT('-T>6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N M=#X\+W1D/CQT9"!W:61T:#TS1#@Q)2!V86QI9VX],T1T;W`^/&9O;G0@6QE/3-$ M)T1)4U!,05DZ:6YL:6YE.R!&3TY4+49!34E,63IS>6UB;VPL('-E3X\9F]N="!S='EL93TS1$1)4U!, M05DZ:6YL:6YE/D1U2!O9B!T:&ES(&YO=&4@86X@861D:71I;VYA M;"`S,"!D87ES+B!4:&4@;F]T92!A;F0@86YY(&%C8W)U960@:6YT97)E6QE/3-$)T1)4U!, M05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!, M24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU M2!B92!E>'1E;F1E9"!B>2!A;B!A9&1I=&EO;F%L(#$X,"!D87ES(&EF M('1H92!#;VUP86YY('-O(&-H;V]S97,N)B,Q-C`[)B,Q-C`[5&AE(&YO=&4@ M8F5A6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[ M/"]F;VYT/CPO=&0^/'1D('=I9'1H/3-$,R4@=F%L:6=N/3-$=&]P/CQD:78@ M3X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL M:6YE/CPO9F]N=#XF(S$V,#L\+V1I=CX\+W1D/CQT9"!W:61T:#TS1#@Q)2!V M86QI9VX],T1T;W`^/&9O;G0@6QE/3-$)T1)4U!,05DZ:6YL:6YE.R!&3TY4+49! M34E,63IS>6UB;VPL('-E3X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/D1U65A7,@:68@=&AE M($-O;7!A;GD@2!T:6UE+"!W:71H(&%C8W)U960@:6YT97)E M6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$58 M5"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z M,'!T)R!A;&EG;CTS1&IU2!I;B!E>&-H86YG92!F;W(@8V%S:"XF(S$V,#LF M(S$V,#M4:&4@;F]T92!M871U2!S;R!C:&]O6QE/3-$)T1)4U!,05DZ8FQO8VL[ M(%1%6%0M24Y$14Y4.C!P=#L@3$E.12U(14E'2%0Z,2XR-2<^)B,Q-C`[/"]D M:78^/&1I=CX\=&%B;&4@=VED=&@],T0Q,#`E(&-E;&QP861D:6YG/3-$,"!C M96QL3X\9F]N M="!S='EL93TS1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ6QE/3-$)T1)4U!,05DZ8FQO8VL[ M($U!4D=)3BU,1494.C!P=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=( M5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A;&EG;CTS1&IU2!B M92!A8V-E;&5R871E9"!I9B!T:&4@0V]M<&%N>2!R86ES97,@)#$N,"!M:6QL M:6]N(&EN('!R:79A=&4@9FEN86YC:6YG(&)E9F]R92!T:&4@;6%T=7)I='D@ M9&%T92XF(S$V,#LF(S$V,#M4:&4@;F]T92!B96%RF5D(&$@ M8F5N969I8VEA;"!C;VYV97)S:6]N(&9E871U2`R,#$Q+"!T M:&ES(&-O;G9E6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U) M3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T M)R!A;&EG;CTS1&IU65A7,@:68@=&AE($-O;7!A M;GD@2!T:6UE+"!W:71H(&%C8W)U960@:6YT97)E6QE/3-$1$E3 M4$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N=#X\+W1D/CPO='(^/'1R/CQT9"!W M:61T:#TS1#(E('9A;&EG;CTS1'1O<#X\9F]N="!S='EL93TS1"=$25-03$%9 M.FEN;&EN93L@1D].5"U&04U)3%DZ3X\9F]N="!S='EL93TS1"=$25-03$%9.FEN;&EN M93L@1D].5"U&04U)3%DZ6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U) M3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T M)R!A;&EG;CTS1&IU2!I;B!E>&-H86YG92!F;W(@8V%S:"XF(S$V,#LF(S$V,#M4 M:&4@;F]T92!M871U2!S;R!C:&]O6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[/"]F M;VYT/CPO=&0^/'1D('=I9'1H/3-$,R4@=F%L:6=N/3-$=&]P/CQF;VYT('-T M>6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N=#X\+W1D/CQT9"!W M:61T:#TS1#@Q)2!V86QI9VX],T1T;W`^/&9O;G0@6QE/3-$)T1)4U!,05DZ:6YL M:6YE.R!&3TY4+49!34E,63IS>6UB;VPL('-E6QE/3-$)T1)4U!,05DZ:6YL:6YE.R!& M3TY4+49!34E,63IS>6UB;VPL('-E3X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/D1U M2!I;B!E>&-H86YG92!F;W(@8V%S:"XF(S$V,#LF(S$V,#M4:&4@ M;F]T92!M871U2!I M;B!D969A=6QT+CPO9F]N=#X\+V1I=CX\+W1D/CPO='(^/'1R/CQT9"!W:61T M:#TS1#(E('9A;&EG;CTS1'1O<#X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL M:6YE/B8C,38P.SPO9F]N=#X\+W1D/CQT9"!W:61T:#TS1#,E('9A;&EG;CTS M1'1O<#X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE/B8C,38P.R`\+V9O M;G0^/"]T9#X\=&0@=VED=&@],T0X,24@=F%L:6=N/3-$=&]P/CQF;VYT('-T M>6QE/3-$1$E34$Q!63II;FQI;F4^)B,Q-C`[(#PO9F]N=#X\+W1D/CPO='(^ M/'1R/CQT9"!W:61T:#TS1#(E('9A;&EG;CTS1'1O<#X\9F]N="!S='EL93TS M1"=$25-03$%9.FEN;&EN93L@1D].5"U&04U)3%DZ3X\9F]N="!S='EL93TS1"=$25-0 M3$%9.FEN;&EN93L@1D].5"U&04U)3%DZ6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P M=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM M4DE'2%0Z,'!T)R!A;&EG;CTS1&IU3X\9F]N="!S='EL93TS1$1)4U!,05DZ:6YL:6YE M/D%S(&]F($1E8V5M8F5R(#,Q+"`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`@("`\=&%B;&4@8VQA6QE/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P M=#L@5$585"U)3D1%3E0Z,'!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM M4DE'2%0Z,'!T)R!A;&EG;CTS1&IU6QE/3-$)T1)4U!,05DZ8FQO M8VL[(%1%6%0M24Y$14Y4.C!P=#L@3$E.12U(14E'2%0Z,2XR-2<^)FYB"!M;VYT:',@96YD960@1&5C96UB97(@ M,S$L(#(P,3$@86YD(#(P,3`L(')E2!A;F0@)#8V,"PP,#`@ M9F]R('1H92!P97)I;V0@9G)O;2!!=6=U7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/"$M+65G>"TM/CQD:78@ M6QE M/3-$)T1)4U!,05DZ8FQO8VL[($U!4D=)3BU,1494.C!P=#L@5$585"U)3D1% M3E0Z.7!T.R!,24Y%+4A%24=(5#HQ+C(U.R!-05)'24XM4DE'2%0Z,'!T)R!A M;&EG;CTS1&IU2!L96%S97,@87!P2`R+#0P,"!S<75A6QE M/3-$)T1)4U!,05DZ8FQO8VL[(%1%6%0M24Y$14Y4.C!P=#L@3$E.12U(14E' M2%0Z,2XR-2<^/&)R/CPO8G(^/"]D:78^(#QD:78@2!B92!R97%U:7)E9"!T;R!M86ME('!A>6UE M;G1S(&EN(')E;&%T:6]N('1O(&-E2UL87=S('=E(&%R92!C;VUM:71T960@=&\@;W5R(&1I'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'1087)T7SEA,V,T.3$S @7V,V,&5?-&%F,U]B-C@S7S-F.#-C8V$P,C@S-BTM#0H` ` end XML 15 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Feature Marketing Acquisition
3 Months Ended
Dec. 31, 2011
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]
2. Feature Marketing Acquisition


Effective December 31, 2010, we entered into a Share Exchange Agreement (the "Exchange Agreement") with Feature Marketing, Inc. (“Feature Marketing”) an Arizona corporation.  The Exchange Agreement provided for the acquisition of all issued and outstanding shares of Feature Marketing in exchange for 3,030,303 shares of our common stock and $200,000 of cash. Feature Marketing owns and operates a computer and consumer electronics refurbishment center based in Scottsdale, Arizona, which we intended to integrate with our planned operations.
 
Subsequent to the completion of the acquisition, on February 25, 2011, the Company and Feature Marketing entered into a Rescission Agreement that provided for the rescission of the acquisition as of December 31, 2010, so that from an economic standpoint, the acquisition never occurred and all applicable shares were never exchanged. Accordingly, the financial position and results of Feature Marketing have not been, and are never expected to be, consolidated with those of the Company. The Company believes the rescission of this transaction was in its best interests based on the discovery of a mutual mistake and impossibility to perform under the agreement, which was not contemplated by either party.


The Company executed a non-exclusive fulfillment agreement with Feature Marketing on March 29, 2011.  Under the terms of the fulfillment agreement, Feature Marketing will provide receiving, refurbishment, shipping and storage services and  repay the amounts previously advanced towards the acquisition discussed above.  As of December 31, 2011 and June 30, 2011 advances outstanding totaled approximately $96,000 and $97,000, respectively, which are secured by the assets of Feature Marketing and are supported by a promissory note from Feature Marketing.  These advances bear interest at a rate of 24.0% per annum.  We have recognized interest income totaling approximately $34,000 relative to these advances for the period from August 22, 2008 (inception) to December 31, 2011.  During June 2011, Feature Marketing returned 75,000 common shares it had previously owned, in exchange for a reduction of amounts due us of approximately $26,000, which was the fair value of the shares at the time they were returned.  These shares have been accounted for as treasury stock.  As of December 31, 2011 and June 30, 2011, management believes all outstanding advances to Feature Marketing, and interest on such advances, will be fully realized and accordingly, has not provided for any allowance for these balances as of such dates.
XML 16 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2011
Jun. 30, 2011
Cash and cash equivalents $ 5,269 $ 66,264
Inventory 100 3,522
Prepaid expenses and other current assets 17,117 14,541
Total current assets 22,486 84,327
Advances to Feature Marketing 95,875 96,875
Property and equipment - net 3,465 4,065
Capitalized software costs 158,150 128,650
Other assets 7,370 6,500
Total assets 287,346 320,417
Accounts payable and other accrued expenses 148,350 63,212
Accrued interest payable 1,542 8,945
Notes and advances payable - related party 65,500 37,500
Notes payable - short-term 25,000  
Convertible notes payable - short-term, net of discount of $21,874 and nil 13,126 75,000
Total current liabilities 253,518 184,657
Convertible notes payable - long-term 25,000  
Convertible notes payable - related party, net of discount of nil and $20,729 as of September 30, 2011 and June 30, 2011, respectively   4,271
Total liabilities 278,518 188,928
Shareholders' equity: Common stock, $001 par value; 60,000,000 shares authorized; 39,005,605 and 38,426,227 shares issued as of December 31, 2011 and June 30, 2011, respectively; 38,930,605 and 38,351,227 shares outstanding as of December 31, 2011 and June 30, 2011, respectively 39,006 38,426
Additional paid-in capital 2,129,228 1,941,748
Treasury stock, at cost (75,000 common shares as of September 30, 2011 and June 30, 2011, respectively) (26,250) (26,250)
Deficit accumulated during the development stage (2,133,156) (1,822,435)
Total shareholders' equity 8,828 131,489
Total liabilities and shareholders' equity $ 287,346 $ 320,417
XML 17 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 40 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Net loss $ (310,721) $ (414,177) $ (2,133,156)
Amortization of debt discounts and deferred financing costs 29,054 5,958 114,642
Depreciation expense 600 600 1,800
Common stock issued for services 48,777 292,246 458,103
Common stock issued for interest     13,681
Cash based expense for reverse merger     125,000
Common stock issued for reverse merger     495,040
Change in Inventory 3,422   (100)
Change in Prepaid expenses and other assets (3,446) (8,723) (35,112)
Change in Accounts payable and other accrued expenses 85,138 (14,430) 147,360
Change in Accrued interest payable 1,681   14,623
Net cash used in operating activities (145,495) (138,526) (798,119)
Software development costs (29,500) (49,400) (158,150)
Advances to Feature Marketing   (40,000) (110,000)
Repayments from Feature Marketing 1,000   1,000
Purchase of property and equipment     (5,265)
Cash paid for reverse merger     (87,500)
Net cash used in investing activities (28,500) (89,400) (359,915)
Proceeds from convertible notes payable 60,000 233,000 318,000
Proceeds from notes payable     535,000
Borrowings from related parties 35,500   124,492
Proceeds from sale of common stock     255,000
Repayment of notes payable     (10,000)
Repayment of related party payables (7,500)   (9,189)
Fees paid for financing costs     (50,000)
Net cash provided by financing activities 113,000 233,000 1,163,303
Increase (decrease) in cash and cash equivalents (60,995) 5,074 5,269
Cash and cash equivalents, beginning of period 66,264 44,309  
Cash and cash equivalents, end of period $ 5,269 $ 49,383 $ 5,269
XML 18 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } }
XML 19 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Organization of Business and Basis of Presentation
3 Months Ended
Dec. 31, 2011
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]
1.  Organization of Business and Basis of Presentation


On March 30, 2010, Youchange, Inc. and BlueStar Financial Group, Inc. (“BSFG”), a Nevada corporation and publicly traded shell company at such time, completed a merger transaction (referred to as the “reverse merger” throughout this filing), which is described in further detail below, and resulted in Youchange, Inc. shareholders obtaining control of BSFG. The surviving publicly traded entity following the reverse merger transaction changed its name to “YouChange Holdings Corp” during May 2010.  The terms “youchange”, “we”, “us”, “our” or the “Company” refer to YouChange Holdings Corp and its consolidated subsidiary, Youchange, Inc., following the date of the merger transaction, and to Youchange, Inc. prior to the date of the reverse merger transaction. All significant intercompany balances and transactions are eliminated in consolidation. Our fiscal year end is June 30.


For accounting purposes, Youchange, Inc. is the acquirer in the reverse merger transaction, and consequently the assets and liabilities and the historical operations reflected in these condensed consolidated financial statements are those of Youchange, Inc. and are recorded at the historical cost basis of Youchange, Inc.  All shares and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of Youchange.


We were organized as a software and services venture in the Green Technology (“GreenTech”) sector to develop a leading social movement to focus on the elimination of electronic waste (“eWaste”) in the United States, which includes any used, obsolete end-of-life consumer electronics and computer devices.  The GreenTech sector is a recognized business sector also known as Environmental Technology or “Envirotech”.  Companies in this sector apply environmental science in an effort to help conserve the environment and choose business approaches that are environmentally and economically sustainable.


The Company’s software includes a destination website, www.youchange.com, where users can join and refer friends to learn about the problem of electronic waste through content, blogs and forums.  Site members are encouraged to take action through the turn-over and sale of their end-of-life, used or obsolete electronics, which reduces the risk of adding to the waste stream.  Members access the youchange calculator and offer database through www.youchange.com and by answering a series of questions, may receive a real-time cash and/or reward points offer. Initially, reward points collected by members may be used to exchange for other items  in the “Shop Green” area of the youchange.com website, which is an online marketplace where points can be exchanged for product. In addition to the youchange.com website, users can join and learn about local events and electronic collection drives through youchange Facebook, Twitter and Linked-In social media pages.  The local electronic collection events play an important part of the youchange strategy and are done in partnership with local sports teams, businesses, individuals, schools and charity groups.


Youchange is developing an electronic Tracking System (“eTS”) to provide asset receiving, refurbishment and disposal recycling tracking through the complete handling cycle of all electronics collected.  In addition, the website and the eTS are expected to allow business to business activity. Businesses can dispose of excess electronics in bulk. The eTS is expected to extend past the website and electronic pricing and rewards calculator previously launched through youchange.com and is intended to be used by local retailers, electronic refurbishment centers and recyclers that may partner with youchange.  Youchange intends on generating revenue through the refurbishment, resale (“reCommerce”) and recycling of the electronics collected, facilitating the sustainability objectives by extending the lifecycle of these items and keeping such items from the electronic waste stream.  Once developed and launched, the youchange eTS is expected to become part of a system that will allow youchange to establish a reCommerce business without an investment in bricks and mortar by partnering with, and charging a management fee to, local retailers, electronic refurbishment centers and recyclers.

 
The Company has realized minimal revenues from its planned business purpose to the date of this filing and currently has limited operations.  Accordingly, the Company is considered to be in the development stage. The Company has been in the development stage since its formation.  The Company has devoted its efforts to business planning and development and has allocated a substantial portion of its time and investment in bringing its product to the market and raising capital.
  
These Unaudited Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant intercompany transactions and accounts have been eliminated. Certain information related to our organization, significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) has been condensed or omitted. The accounting policies followed in the preparation of these Unaudited Condensed Consolidated Financial Statements are consistent with those followed in our annual consolidated financial statements for the year ended June 30, 2011, as filed on Form 10-K. In the opinion of management, these Unaudited Condensed Consolidated Financial Statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to fairly state our financial position, results of operations and cash flows for the periods presented and the presentations and disclosures herein are adequate when read in conjunction with our Form 10-K for the year ended June 30, 2011. Certain reclassifications have been made to the prior period financial statement amounts to conform to the current presentation.


The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include carrying amounts of long-lived assets and advances to Feature Marketing, deferred financing costs and deferred taxes.


Basic earnings (loss) per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period.  Diluted earnings (loss) per share is calculated based on the weighted average shares of Common Stock outstanding during the period plus the dilutive effect of outstanding Common Stock purchase warrants and stock options using the treasury stock method and the dilutive effects of convertible securities using the if-converted method. Basic and diluted loss per share were the same for all periods reported due to the net losses attributable to common shareholders for all periods reported. As of December 31, 2011, we had convertible notes payable outstanding that, with accrued interest, were convertible into approximately 227,500 common shares.  As of December 31, 2011, the conversion ratio for these notes was lower than our closing stock price.  These convertible notes payable are described in more detail in Note 7.


Reverse Merger with BSFG


On March 15, 2010, BSFG and its wholly owned subsidiary BlueStar Acquisition Corporation (“Merger Sub”) entered into an Agreement and Plan of Merger  (the “Merger Agreement”) with Youchange, Inc. The Merger Agreement and the acquisition agreed to therein was closed on March 30, 2010.  At the closing of the reverse merger, Youchange, Inc. merged into Merger Sub, with Youchange, Inc. as the surviving entity. At the time the Merger Agreement was executed, Jeffrey Rassás and Richard Papworth, currently our Chief Executive Officer and Chief Financial Officer, respectively, and directors of the Company, were directors and officers of both BSFG and Youchange, Inc. BSFG acquired all 7,183,197 of the issued and outstanding common shares of Youchange Inc. from Youchange Inc. shareholders in exchange for 21,549,591 shares of BSFG Common Stock.  Youchange, Inc. shareholders received three shares of BSFG Common Stock for each share of Youchange, Inc.  These figures included 2,049,591 shares of BSFG Common Stock issued to the former note holders of Youchange, Inc. whereby the $500,000 principal amount of secured convertible promissory notes plus accrued interest of $13,681 was converted into 683,197 shares of Youchange, Inc. common stock immediately prior to the reverse merger. As a result of the reverse merger there were a total of 35,405,588 shares of our common stock issued and outstanding immediately following the transaction, of which the former Youchange, Inc. shareholders held 61%. Additionally, following the completion of the reverse merger, we issued 1,456,000 shares of our common stock to the sellers of BSFG.


Going Concern


The Company's financial statements are prepared using accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenue sufficient to cover its operating costs and allow it to continue as a going concern.  The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable.  If the Company is unable to obtain adequate capital, it could be forced to cease operations.
In order to continue as a going concern, the Company will need, among other things, additional capital resources.  Management's plans to obtain such resources for the Company include (i) obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses; (ii) obtaining funding from outside sources through the sale of its debt and/or equity securities; and (iii) as a last resort, seeking out and completing a merger with another company. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.


The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attaining profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.


Recently Issued Accounting Pronouncements


During September 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-08, “Testing Goodwill for Impairment” (“ASU 2011-08”). ASU 2011-08 is intended to simplify the testing of goodwill for impairment by permitting an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test, which is currently required for all companies that report goodwill. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, although early adoption is permitted. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.


During June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income” (“ASU 2011-05”).  ASU 2011-05 provides for the option to present the total of comprehensive income, the components of net income and the components of other comprehensive income (“OCI”) either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Regardless of which format is chosen, the amendments establish a requirement for entities to present on the face of the financial statements reclassification adjustments for items that are reclassified from OCI to net income in the statement(s) where the components of net income and the components of OCI are presented. The amendments in ASU 2011-05 are effective, on a retrospective basis, for public entities for interim and annual periods beginning after December 15, 2011; however, during December 2011 the FASB issued ASU No. 2011-12, which defers those changes in ASU 2011-05 that relate to the presentation of reclassification adjustments. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.


During May 2011, the FASB issued ASU No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs” (“ASC 2011-04”).  The amendments in ASC 2011-04 were issued in order to align the fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards.  Consequently, the amendments change the wording used to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements.  However, many of the amendments in ASC 2011-04 will not result in a change in the application of the requirements in ASC 820, Fair Value Measurement. The amendments in ASU 2011-04 are effective, on a prospective basis, for public entities for interim and annual periods beginning after December 15, 2011, and for nonpublic entities for annual periods beginning after December 15, 2011. The Company does not anticipate that the adoption of this guidance will have a material impact on its financial position and results of operations.
XML 20 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL (USD $)
Dec. 31, 2011
Jun. 30, 2011
Discount on convertible notes payable - short term $ 21,874  
Discount on convertible notes payable - related party   $ 20,729
Common stock par value $ 0.001 $ 0.001
Common stock shares authorized 60,000,000 60,000,000
Common stock shares issued 39,005,605 38,426,227
Common stock shares outstanding 38,930,605 38,351,227
Treasury stock shares 75,000 75,000
XML 21 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
3 Months Ended
Dec. 31, 2011
Jan. 31, 2012
Document and Entity Information    
Entity Registrant Name YouChange Holdings Corp  
Document Type 10-Q  
Document Period End Date Dec. 31, 2011  
Amendment Flag false  
Entity Central Index Key 0001442236  
Current Fiscal Year End Date --06-30  
Entity Common Stock, Shares Outstanding   38,930,605
Entity Filer Category Smaller Reporting Company  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Well-known Seasoned Issuer No  
Document Fiscal Year Focus 2012  
Document Fiscal Period Focus Q2  
XML 22 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended 40 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Net revenues $ 17,367   $ 28,200   $ 37,360
Cost of products sold 4,995   7,843   13,229
Gross profit 12,372   20,357   24,131
Professional fees 109,224 161,570 170,203 236,672 933,811
Salaries and wages 28,014 48,760 63,528 48,760 162,266
Licensing fees   15,000   79,130 89,130
General and administrative 18,520 14,592 39,190 29,920 149,719
Marketing 17,921 6,263 33,897 18,013 93,423
Expense of reverse merger         620,040
Total operating expenses 173,679 246,185 306,818 412,495 2,048,389
Loss from operations (161,307) (246,185) (286,461) (412,495) (2,024,258)
Interest income 3,300 4,050 6,600 8,628 34,173
Interest expense (9,665) (9,195) (30,860) (10,310) (143,071)
Total other income (expense) (6,365) (5,145) (24,260) (1,682) (108,898)
Net loss $ (167,672) $ (251,330) $ (310,721) $ (414,177) $ (2,133,156)
Basic and diluted net loss per common share   $ (0.01) $ (0.01) $ (0.01)  
Weighted average common shares outstanding - basic 38,930,605 36,059,954 38,843,240 35,935,506  
Weighted average common shares outstanding - diluted 38,930,605 36,059,954 38,843,240 35,935,506  
XML 23 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Notes Payable and Advances
3 Months Ended
Dec. 31, 2011
Debt  
Debt Disclosure [Text Block]
6. Notes Payable and Advances


During November 2011, we issued a $25,000 note payable with an unrelated, accredited third party in exchange for cash.  The note matures 60 days from the date of issuance and bears interest at a rate of 10.0% per annum with an increase to 12.0% per annum following the maturity date.  This note has not been repaid as of the date of this filing, and is accordingly currently in default.


During November 2011, we also received $10,000 from an unrelated party under a short-term advance.  This advance was repaid during December 2011 with a stated interest amount of $100.
XML 24 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Party Advances
3 Months Ended
Dec. 31, 2011
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
5. Related Party Advances


During the six months ended December 31, 2011 we received $35,500 in short-term advances from Jeffrey Rassás, our Chief Executive Officer and Chairman of our Board of Directors, of which, $7,500 was repaid during such time.
XML 25 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitment and Contingencies
3 Months Ended
Dec. 31, 2011
Commitment and Contingencies  
Commitments and Contingencies Disclosure [Text Block]
9. Commitments and Contingencies


Operating Leases


The Company leases approximately 2,400 square feet of office space in Scottsdale, Arizona.  The lease agreement expires during August 2012 and calls for rent of approximately $2,500 per month.


Indemnifications


During the normal course of business, we make certain indemnities and commitments under which we may be required to make payments in relation to certain transactions. These may include: (i) intellectual property indemnities to customers in connection with the use, sales and/or license of products and services; (ii) indemnities to customers in connection with losses incurred while performing services on their premises; (iii) indemnities to vendors and service providers pertaining to claims based on negligence or willful misconduct; and (iv) indemnities involving the representations and warranties in certain contracts. In addition, under our by-laws we are committed to our directors and officers for providing for payments upon the occurrence of certain prescribed events. The majority of these indemnities and commitments do not provide for any limitation on the maximum potential for future payments that we could be obligated to make.
XML 26 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Convertible Notes Payable
3 Months Ended
Dec. 31, 2011
Debt  
Long-term Debt [Text Block]
7. Convertible Notes Payable


The following summarizes convertible notes payable activity following the reverse merger described in Note 1:


 
·
During July 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured on January 19, 2011 and bears interest at a rate of 12.0% per annum.  The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share.  Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note.  During July 2011, this convertible note, plus $3,178 of accrued interest, was converted to 112,713 common shares.
    
 
·
During August 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured on February 6, 2011 and bears interest at 12.0% per annum.  The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note. During July 2011, this convertible note, plus $2,999 of accrued interest, was converted to 111,996 common shares.
    
 
·
During September 2010, we issued a $22,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and bears interest at a rate of 8.0% per annum. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note. During June 2011, this convertible note, plus $1,247 of accrued interest, was converted to 92,983 common shares.
    
 
·
During September 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matured 61 days from the date of issue and bears interest at a rate of 8.0% per annum. The Company had the right to extend the maturity of this note an additional 30 days. The note and any accrued interest may be converted at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $5,500 for this convertible note. During July 2011, this convertible note, plus $2,083 of accrued interest, was converted to 108,332 common shares.
    
 
·
During October 2010, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share.  During June 2011, this convertible note, plus $1,250 of accrued interest, was converted to 87,500 common shares.
 
 
 
 
·
During November 2010, we issued a $13,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $1,083 for this convertible note. During June 2011, this convertible note, plus $580 of accrued interest, was converted to 45,268 common shares.
    
 
·
During December 2010, we issued an $8,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $1,334 for this convertible note. During June 2011, this convertible note, plus $320 of accrued interest, was converted to 27,735 common shares.
 
 
·
During December 2010, we issued a $90,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note is secured by all of the assets of the Company, matures two years from the date of issuance and may be accelerated if the Company raises $1.0 million in private financing before the maturity date.  The note bears interest at a rate of 12.0% per annum and is convertible at any time, at the discretion of the investor, to shares of our common stock at a rate of $0.25 per share. Unpaid accrued interest is convertible at any time, at the discretion of the investor, to shares of our common stock, with the conversion rate equal to the average closing price of our common stock for the ten days preceding such conversion.  Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $23,400 for this convertible note. During January 2011, this convertible note, plus $600 of accrued interest, was converted to 362,400 common shares.
    
 
·
During March 2011, we issued a $25,000 convertible note with the spouse of a previous officer of  YouChange, Inc in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note. During July 2011, this convertible note, plus $824 of accrued interest, was converted to 103,296 common shares.
    
 
·
During August 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures two years from the date of issuance and may be extended by an additional 180 days if the Company so chooses.  The note bears interest at a rate of 8.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.30 per share. Based on our share price at the time the note agreement was entered into, there was no beneficial conversion feature associated with this convertible note.
    
 
·
During October 2011, we issued a $10,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures three months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $5,200 for this convertible note. This note has not been repaid as of the date of this filing, and is accordingly currently in default.
    
 
·
During December 2011, we issued a $25,000 convertible note with an unrelated, accredited third party in exchange for cash.  The note matures six months from the date of issuance and may be extended by an additional 30 days if the Company so chooses.  The note bears interest at a rate of 10.0% per annum and is convertible at any time, with accrued interest, at the discretion of the investor to shares of our common stock at a rate of $0.25 per share. Based on our share price at the time the note agreement was entered into, we recognized a beneficial conversion feature of $25,000 for this convertible note.


As of December 31, 2011, the convertible notes payable and associated accrued interest described above are convertible into a total of approximately 227,500 common shares.


The intrinsic value of a beneficial conversion feature inherent to a convertible note payable, which is not bifurcated and accounted for separately from the convertible note payable and may not be settled in cash upon conversion, is treated as a discount to the convertible note payable. This discount is amortized over the period from the date of issuance to the date the note is due using the effective interest method. If the note payable is retired prior to the end of its contractual term, the unamortized discount is expensed in the period of retirement to interest expense. In general, the beneficial conversion feature is measured by comparing the effective conversion price, after considering the relative fair value of detachable instruments included in the financing transaction, if any, to the fair value of the common shares at the commitment date to be received upon conversion. 
XML 27 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Professional Fees
3 Months Ended
Dec. 31, 2011
Professional Fees {1}  
Professional Fees
8. Professional Fees
 
Included in professional fees on the accompanying Condensed Consolidated Statements of Operations are charges relative to certain of the Company’s officers of approximately $80,000 and $125,000 for the three months ended December 31, 2011 and 2010, respectively, $128,000 and $194,000 for the six months ended December 31, 2011 and 2010, respectively and $660,000 for the period from August 22, 2008 (inception) to December 31, 2011.
XML 28 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Debt (USD $)
Jun. 30, 2011
Debt  
Discount on convertible notes payable - related party $ 20,729
XML 29 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) (USD $)
Common Stock
Additional Paid-in Capital
Treasury Stock
Deficit Accumulated During the Development Stage
Total
Balance at Aug. 21, 2008          
Issuance of common stock upon formation $ 1,000       $ 1,000
Issuance of common stock upon formation - shares 1,000,000        
Net loss       (67,103) (67,103)
Balance at Jun. 30, 2009 1,000     (67,103) (66,103)
Balance - shares at Jun. 30, 2009 1,000,000        
Common stock issued for cash 4,000       4,000
Common stock issued for cash - shares 4,000,000        
Common stock issued for intangible asset 1,500 1,000     2,500
Common stock issued for intangible asset - shares 1,500,000        
Conversion of convertible notes payable and accrued interest 683 512,998     513,681
Conversion of convertible notes payable and accrued interest - shares 683,197        
Effect of reverse merger 26,767 59,546     86,313
Effect of reverse merger - shares 26,766,391        
Common stock issued in connection with reverse merger 1,456 493,584     495,040
Common stock issued in connection with reverse merger - shares 1,456,000        
Net loss       (1,000,057) (1,000,057)
Balance at Jun. 30, 2010 35,406 1,067,128   (1,067,160) 35,374
Balance - shares at Jun. 30, 2010 35,405,588        
Common stock issued for cash 1,000 249,000     250,000
Common stock issued for cash - shares 1,000,000        
Conversion of convertible notes payable and accrued interest 616 161,381     161,997
Conversion of convertible notes payable and accrued interest - shares 615,886        
Common stock issued for services 1,404 407,922     409,326
Common stock issued for services - shares 1,404,753        
Beneficial conversion feature   56,317     56,317
Acquisition of treasury stock     (26,250)   (26,250)
Net loss       (755,275) (755,275)
Balance at Jun. 30, 2011 38,426 1,941,748 (26,250) (1,822,435) 131,489
Balance - shares at Jun. 30, 2011 38,426,227        
Conversion of convertible notes payable and accrued interest 437 108,647     109,084
Conversion of convertible notes payable and accrued interest - shares 436,337        
Common stock issued for services 143 48,634     48,777
Common stock issued for services - shares 143,041        
Beneficial conversion feature   30,199     30,199
Net loss       (310,721) (310,721)
Balance at Dec. 31, 2011 $ 39,006 $ 2,129,228 $ (26,250) $ (2,133,156) $ 8,828
Balance - shares at Dec. 31, 2011 39,005,605        
XML 30 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Short Term Note Payable to BSFG
3 Months Ended
Dec. 31, 2011
Debt  
Short-term Debt [Text Block]
4. Short Term Note Payable to BSFG


On January 1, 2010, Youchange, Inc. entered into a $75,000 note payable agreement with the previous shareholders of BSFG, which, together with a $50,000 cash payment and the issuance of 1,456,000 common shares following the reverse merger, was used to complete the reverse merger with BSFG. The payable was due in two equal installments, which were due on April 1, 2010 and June 30, 2010.  In the event we failed to pay the first installment in full, under the terms of the agreement, the entire balance would accrue interest at 9.0% per annum retroactive from January 1, 2010. We may pay this interest penalty in cash or stock at a price of $0.05 per share, at our option.  The first payment of $37,500 was paid when due on April 1, 2010; however, we have not made the second payment as of the date of this filing.
XML 31 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 39 114 1 false 4 0 false 3 false false R1.htm 000010 - Document - Document and Entity Information Sheet http://ycngxbrl.com/20111231/role/idr_DocumentDocumentAndEntityInformation Document and Entity Information true false R2.htm 000020 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://ycngxbrl.com/20111231/role/idr_CONDENSEDCONSOLIDATEDBALANCESHEETS CONDENSED CONSOLIDATED BALANCE SHEETS false false R3.htm 000030 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL Sheet http://ycngxbrl.com/20111231/role/idr_CONDENSEDCONSOLIDATEDBALANCESHEETSPARENTHETICAL CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL false false R4.htm 000040 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://ycngxbrl.com/20111231/role/idr_CONDENSEDCONSOLIDATEDSTATEMENTSOFOPERATIONS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 000050 - Statement - CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) Sheet http://ycngxbrl.com/20111231/role/idr_CONDENSEDCONSOLIDATEDSTATEMENTOFCHANGESINSHAREHOLDERSEQUITYDEFICIT CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) false false R6.htm 000060 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://ycngxbrl.com/20111231/role/idr_CONDENSEDCONSOLIDATEDSTATEMENTSOFCASHFLOWS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS false false R7.htm 000070 - Disclosure - Organization of Business and Basis of Presentation Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureOrganizationOfBusinessAndBasisOfPresentation Organization of Business and Basis of Presentation false false R8.htm 000080 - Disclosure - Feature Marketing Acquisition Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureFeatureMarketingAcquisition Feature Marketing Acquisition false false R9.htm 000090 - Disclosure - Common Stock Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureCommonStock Common Stock false false R10.htm 000100 - Disclosure - Short Term Note Payable to BSFG Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureShortTermNotePayableToBSFG Short Term Note Payable to BSFG false false R11.htm 000110 - Disclosure - Related Party Advances Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureRelatedPartyAdvances Related Party Advances false false R12.htm 000120 - Disclosure - Notes Payable and Advances Notes http://ycngxbrl.com/20111231/role/idr_DisclosureNotesPayableAndAdvances Notes Payable and Advances false false R13.htm 000130 - Disclosure - Convertible Notes Payable Notes http://ycngxbrl.com/20111231/role/idr_DisclosureConvertibleNotesPayable Convertible Notes Payable false false R14.htm 000140 - Disclosure - Professional Fees Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureProfessionalFees Professional Fees false false R15.htm 000150 - Disclosure - Commitment and Contingencies Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureCommitmentAndContingencies Commitment and Contingencies false false R16.htm 460000 - Disclosure - Debt Sheet http://ycngxbrl.com/20111231/role/idr_DisclosureDebt Debt false false All Reports Book All Reports Process Flow-Through: 000020 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Dec. 31, 2010' Process Flow-Through: Removing column 'Jun. 30, 2010' Process Flow-Through: Removing column 'Jun. 30, 2009' Process Flow-Through: 000030 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL Process Flow-Through: 000040 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: Removing column '10 Months Ended Jun. 30, 2009' Process Flow-Through: Removing column '12 Months Ended Jun. 30, 2011' Process Flow-Through: Removing column '12 Months Ended Jun. 30, 2010' Process Flow-Through: 000060 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ycng-20111231.xml ycng-20111231.xsd ycng-20111231_cal.xml ycng-20111231_def.xml ycng-20111231_lab.xml ycng-20111231_pre.xml true true