Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' DEFICIT

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STOCKHOLDERS' DEFICIT
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Note 12 - STOCKHOLDERS' DEFICIT

Effective July 5, 2016, subsequent to these financial statements, the Company amended its articles of incorporation to increase the authorized shares of capital stock of the Company from two hundred million (200,000,000) shares of common stock,  and eighty thousand (80,000) shares of preferred stock, both $.001  par value respectively, to five hundred twenty five million (525,000,000) shares common stock,  and six hundred thousand (600,000) shares of preferred stock, both $.001 par value respectively.

  

Preferred stock

 

The Company is authorized to issue 80,000 shares of preferred stock with no par value. As of June 30, 2016 and December 31, 2015, the Company had 80,000 shares of preferred stock issued and outstanding.

 

Common stock

 

The Company is authorized to issue 200,000,000 shares of common stock with par value $.001 per share. As of June 30, 2016 and December 31, 2015, the Company had 165,394,501 shares and 164,144,501 shares of common stock issued and outstanding.

 

In February 2016, the Company issued an aggregate of 1,250,000 shares of its common stock for services rendered valued at $25,000 based on the underlying market value of the common stock at the date of issuance.