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Equity
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12 Months Ended |
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Dec. 31, 2011
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| Equity | |
| Schedule of Capital Units [Table Text Block] | Note 6 – Capital Stock
On April 9, 2010, the Company filed a Certificate of Amendment with the Secretary of State of the State of Florida to increase the authorized number of shares of its common stock from 110,000,000 shares to 500,000,000 shares, with a par value of $0.001 per share. As of December 31, 2011, there were 302,155,623 shares of the Company’s common stock issued and outstanding.
On October 29, 2010, the stockholders of the Company approved an amendment to the Company’s Articles of Incorporation to effect an one-for-fifty reverse stock split of its issued and outstanding common stock, $0.001 par value per share. The amendment became effective as of December 27, 2010. All share transactions disclosed in these financial statements give retroactive effect to this 1:50 reverse split.
On May 3, 2011, the Company issued an aggregate of 300 million shares of the Company’s common stock to 16 investors in a private placement at a price of $0.03 per share, for an aggregate consideration of $9,000,000 in cash. |
CREDIT ONE FINANCIAL INC - FORM 10-K/A - XML - IDEA: XBRL DOCUMENT - April 24, 2012
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