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CAPITAL STOCK
6 Months Ended
Jun. 30, 2017
Stockholders' Equity Note [Abstract]  
CAPITAL STOCK

NOTE 4 - CAPITAL STOCK


Common Stock - The Company has authorized 200,000,000 shares of common stock, $0.001 par value.  As of June 30, 2017, 24,415,860 shares were issued and outstanding.  


During the first quarter, the Company issued 3,650,000 shares of common stock valued at $1,752,000 to officers and directors.


During the second quarter, the Company repurchased 40,000 shares of common stock for $8,000, and the stock was retired.


Reverse Spin-Off — The common shares outstanding, common stock and additional paid in capital have been restated in the December 31, 2016 financial statements to reflect the 20,805,860 common shares issued by Liberated Syndication Inc. to shareholders of record of FAB Universal on July 20, 2016 to effectively spin-off the operations.