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Stockholders' (Deficit)
9 Months Ended
Oct. 31, 2011
Equity  
Stockholders' Equity Note Disclosure [Text Block]

(9)        Stockholders’ (Deficit)

 

During the year ended January 31, 2011, the Company issued 2,859,820 shares of common stock at $0.06 per share in settlement of amounts due to two shareholders. The Company completed a private placement in the amount of $226,000 by issuance of 3,766,667 shares of common stock at $0.06 per share. Each share included a warrant exercisable at $0.12 over two years. The Company granted options valued at $7,138 for investor relations services. In addition, a related party contributed $48,000 to capital.

 

During the quarter ending July 31, 2011, the Company issued a total of 800,000 in shares to two individuals who had previously donated their time to the Company. 750,000 shares at $.04 per share were granted and expensed as consulting expense and an additional 50,000 shares at $.04 were granted to a related party and expensed as website expense. A related party forgave notes payable in the amount of $600,000. This amount was recorded as a contribution to capital.

 

During the quarter ending October 31, 2011, the Company issued a total of 6,323,820 common shares in settlement of debt of $410,860.