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SUBSEQUENT EVENT
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3 Months Ended |
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Mar. 31, 2012
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| SUBSEQUENT EVENT | |
| SUBSEQUENT EVENT | NOTE 6 - SUBSEQUENT EVENT
The asset purchase agreement entered into by the company and PFN Holdings specifies that the company will acquire a number of assets related to providing psychic consultation services under the trade name "Psychic Friends Network" in exchange for 50,600,000 shares of common stock, following a 10 for 1 split currently issued common stock. In conjunction with this acquisition, the company's sole director and officer Ya Tang Chao will cancel 50,000,000 post-split shares of its common stock. The cancelation and reissuance described in this agreement and as discussed in Note 3, were issued in April of 2012.
On March 31, 2012 the company entered into a contractor agreement with ACP Capital Inc. ("ACP") whereas the company desired to retain ACP to provide consulting services related to raising capital. The agreement shall become effective March 31, 2012 and shall continue until March 31, 2014 or until earlier terminated pursuant to the agreement. In accordance with the agreement, the company is required to issue to ACP 25,000 shares per quarter, for a total of 100,000 shares annually in consideration of the contractor services. The first payment of shares will be issued during the quarter ending June 30, 2012.
On April 15, 2012 the company entered into an investor relations service agreement with Circadian Group ("circadian") whereas the company desired to retain circadian for a twelve (12) month period for services related to investor relations. In accordance with the agreement, the company is required to make cash payments of $1,500 a month for three (3) months beginning on April 15th, 2012 and nine (9) payments of $2,000 beginning on July 15th, 2012 and ending March 15th, 2013. The company is also required to issue 75,000 restricted common shares of stock to circadian in accordance with the agreement. |