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COMMON STOCK
6 Months Ended
Jun. 30, 2013
COMMON STOCK:  
COMMON STOCK

NOTE 4 – COMMON STOCK

 

In May, 2013, in an effort to actively seek a business opportunity, the Company entered into an agreement with Hong Kong International Services ("HKIS") whereby HKIS will attempt to introduce us to potential merger candidates. The Company issued 1.5 million restricted common shares for this service which will be held in escrow and not vest until a successful merger is accomplished. The shares will be recorded at the value of the services after the transaction has closed. Should no business transaction occur within one year from the date of the agreement, the shares will be returned to treasury and canceled.  For accounting purposes the shares are considered contingent and not issued until the completion of a merger transaction.

 

In May, 2013, the Company issued 2 million restricted common shares at $0.25 per share to its sole officer and director.  These shares are held in escrow and will not vest until a successful merger is accomplished, as described in the preceding paragraph.  At present the company cannot estimate the requisite service period for the services as they cannot estimate the probability of when or if a merger transaction will occur.  For accounting purposes the shares are considered contingent and not issued until the requisite service period can be reasonably estimated.  At that time the shares will be valued as of the grant date.  Should no business transaction occur the shares will be returned to treasury and cancelled.