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Note 12: Subsequent Events
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3 Months Ended |
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Mar. 31, 2012
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| Subsequent Events [Text Block] |
Note
12: Subsequent Events
The
Company has evaluated subsequent events through the date the
financial statements were issued in accordance with Financial
Accounting Standards Board Codification Topic 855, Subsequent
Events.
On
April 11, 2012, the Company agreed to issue 1,000,000 shares
of common stock in exchange for services valued at
$220,000.
On
May 2, 2012, the Company issued 111,070 shares of common
stock in exchange for services valued at $22,214.
On
May 2, 2012, the Company entered into an employment agreement
with the Chief Financial Officer, with a term of five years
and specifying certain salary payments and
benefits. Additional information regarding the
agreement can be found in Note 10:
Employment Agreements.
On
May 2, 2012, the Board of Directors approved the cancellation
of Circle of Education, LLC, a California limited liability
company formed in 2010. For additional information regarding
the cancellation, see Note 11:
Limited Liability Company.
On
May 10, 2012, the Company issued 250,000 shares of common
stock pursuant to a consulting agreement. The
services are valued at $47,500, or $.019 per share.
On
May 10, 2012, the Company issued 900,000 shares of common
stock in exchange for cash in the amount of $180,000, or
$0.20 per share, to an accredited investor.
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