WHITE SMILE GLOBAL, INC. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - April 23, 2012

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v2.4.0.6
Equity
 3 Months Ended
Feb. 29, 2012
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

7.   Preferred Shares

 

The authorized capital of the Company is 50,000,000 preferred shares with a par value of $0.001 per share. Of the 50,000,000 authorized shares of preferred stock, 25,000,000 have been designated as Class A preferred shares.  These Class A preferred shares entitle the holder to convert the shares for 20 common shares for each Class A preferred share converted and entitles the holder 100 votes for each Class A preferred share held.

 

On December 16, 2011, the Company issued 2,000,000 shares of the Company’s Class A preferred stock pursuant to an employment agreement with the Company’s President and CEO. The Parties have agreed to waive all conversion rights associated with this issuance.

 

8.   Common Shares

The authorized capital of the Company is 550,000,000 common shares with a par value of $0.001 per share.
 

a)     In February 2009, the Company issued 180,000,000 shares of common stock at a price of $0.000025 per share for total cash proceeds of $4,500.

b)    In February, April, May and June 2009, the Company issued 24,000,000 shares of common stock at a price of $0.00025 per share for total cash proceeds of $6,000.

c)     In June, July and August 2009, the Company issued 11,000,000 shares of common stock at a price of $0.001 per share for total cash proceeds of $11,000.

d)    During the period from inception (September 25, 2008) to August 31, 2010, the Company sold a total of 215,000,000 shares of common stock for total cash proceeds of $21,500.

e)     On June 27, 2011, Omar John Ahmadzai (“Mr. Ahmadzai”) acquired control of three million (3,000,000) pre-split shares of the Company’s issued and outstanding common stock from Gary Burkinshaw (“Mr. Burkinshaw:”) in accordance with Stock Purchase Agreements between Mr. Ahmadzai and Mr. Burkinshaw. Pursuant to the Stock Purchase Agreements, Mr. Ahmadzai paid a purchase price of ten thousand ($10,000) to Mr. Burkinshaw in exchange for the shares.

f)     On July 6, 2011, the Company effected a forward stock split on the basis of 20 new shares of common stock for each 1 share of common stock outstanding as of July 20, 2011. All reference in these financial statements and notes to financial statements to number of shares, price per shares and weighted average number of shares outstanding of common stock prior to this forward split have been adjusted to reflect the forward stock split on a retroactive basis unless otherwise noted.

g)    On October 7, 2011, the Company issued 36,000,000 shares with a fair value of $36,000 pursuant to the asset purchase agreement with a recently appointed Director, in exchange for five US patent applications as well as other intellectual property (Note 4).

h)     On December 15, 2011, the Company issued 1,000,000 pre-split and 2,000,000 post-split common shares with a fair value of $360,000 to a newly appointed Director in consideration for his services as a member of the Board of Directors.

i)      On December 27, 2011, the Company effected a forward stock split on the basis of 2 new shares of common stock for each 1 share of common stock outstanding as of January 6, 2012. All reference in these financial statements and notes to financial statements to number of shares, price per shares and weighted average number of shares outstanding of common stock prior to this forward split have been adjusted to reflect the forward stock split on a retroactive basis unless otherwise noted.

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