Capital Stock |
3 Months Ended |
|---|---|
Jun. 30, 2011 | |
| Equity | |
| Stockholders' Equity Note Disclosure [Text Block] |
NOTE 4– CAPITAL STOCK
Common Stock The Company is authorized to issue 200,000,000 shares of common stock. All shares have equal voting rights, are non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
In its initial capitalization, the Company issued 2,200,000 shares of common stock for a total of $2,000 cash, and $2,000 in services. Subsequent to the issuance of shares, a consultant was unable to complete the required services and 100,000 shares for $1,000 in services were returned to the Company.
During the year ended December 31, 2008 the Company sold 25,775 shares of common stock pursuant to a registered offering at $0.08 per share for total cash of $2,062.
During the year ended December 31, 2009, the Company sold 126,375 shares of common stock pursuant to a registered offering at $0.08 per share for total cash of $10,110.
On June 7, 2010 the Board of Directors approved and on July 26, 2010, the State of Nevada approved Cetrone Energy Company’s restated Articles of Incorporation, which increased its capitalization from 50,000,000 common shares to 200,000,000 common shares and changing the entity name to Fresh Start Private Management, Inc.
On June 7, 2010, the President of the Company agreed to redeem 1,775,000 shares of common stock, which the Company cancelled and did not hold in treasury.
On June 7, 2010 shareholders approved a forward split of its common stock at two hundred (200) shares for one (1) share of the existing shares. The number of common stock shares outstanding increased from 477,150 to 95,430,000. Prior period information has been restated to reflect the stock split.
On July 31, 2010, the Company sold 200,000 shares of common stock for $100,000 cash. As of December 31, 2010, the shares were unissued and considered subscribed.
On October 28, 2010, the Company redeemed 20,000,000 shares of stock initially issued for $2,000 in services for $2,000 in accounts payable.
The shares to be issued for the license agreements listed in Note 3 were not issued as of December 31, 2010 and considered subscribed. Management expects shares to be issued in the third quarter of 2011.
Net loss per common share
Net loss per share is calculated in accordance with FASB ASC 260, “Earnings Per Share.” The weighted-average number of common shares outstanding during each period is used to compute basic loss per share. Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised.
Basic net loss per common share is based on the weighted average number of shares of common stock outstanding during 2011 or 2010 and since inception. As of June 30, 2011 and June 30, 2010 and since inception, the Company had no dilutive potential common shares.
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