Equity Transactions

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Equity Transactions

6. EQUITY TRANSACTIONS

As of September 30, 2014, the company had outstanding: (i) 46,033,565 shares of common stock and, (ii) preferred stock that is convertible into 1,450,000 shares of common stock, resulting on a fully diluted basis, 47,483,565 shares of common stock. The company had 50,000,000 shares of common stock authorized by our Articles of Incorporation.

On September 11, 2014, SAI Corporation, the Company's majority shareholder, sold to Ang Woon Han 24,070,250 shares of common stock, which represents 52.3% of all issued and outstanding common stock as of that date. Additionally, SAI Corporation sold to Ang Woon Han 48 shares of Series C Convertible preferred stock and 10 shares of Series D Convertible preferred stock. These preferred shares are the Company's only issued and outstanding shares of preferred stock.

As a result of this transaction, the Company's business of networking services and internet connectivity ceased and the company is currently engaged in preparing for a new business.