Stockholders' Equity

9 Months Ended

Sep. 30, 2015

STOCKHOLDERS' EQUITY (DEFICIENCY)

STOCKHOLDERS' EQUITY (DEFICIENCY)

5. Stockholders’ Equity

The Company has authorized a total of 750,000,000 shares of common stock, par value $0.001 per share.

On May 12, 2015, the Company sold 4,979,524 newly issued shares of its common stock, par value $0.001 per share, to PacificWave at a price of $0.05 per share, representing aggregate proceeds of $248,976.

At the closing of the above described purchase of shares on May 12, 2015, PacificWave contributed $175,000 in cash to the capital of the Company, which was recorded as a credit to additional paid-in capital.

On July 15, 2015, the Company filed an amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada providing for a one-for-fifty reverse split of its outstanding shares of common stock effective August 21, 2015. The authorized shares of the Company’s common stock were not adjusted as a result the reverse stock split.

See Note 4 for a description of additional common stock transactions.