Common Stock Transactions:
In September, 2012, the Company issued a total of 737,778 common shares to Asher. on one conversion totaling $16,700 in principal amount of loans, at a price equal to $0.0225 per share.
In October, 2012, the Company issued a total of 2,284,848 common shares to Asher. on three conversions totaling $35,000 in principal amount of loans, at a price equal to $0.0165, $0.015, and $0.0135 per share.
As a result of the issue of these shares, the Company had a total of 33,287,857 common shares issued and outstanding as of November 7, 2012.
Effective November 7, 2012, the Company completed a reverse split of its common stock, resulting in the number of shares of common stock being reduced on the basis of one new common shares for each fifteen old common shares outstanding. Accordingly, as of November 7, 2012, there were 33,287,857 common shares issued and outstanding. The reverse stock split has been given retroactive recognition in this Form 10-K. All shares and per share information has been retroactively adjusted to reflect the stock split.
In November, 2012, the Company issued a total of 60,060 common shares to Asher on one conversion totaling $10,000 in principal amount of loans, at a price equal to $0.1665 per share.
On November 21, 2012, the Company acquired Burgoyne Internet Services, LLC, which became a wholly-owned subsidiary of the Company. The terms of the acquisition and pro forma financial statements for Burgoyne are included in the Current report on Form 8-K filed with the SEC on November 26, 2012.
On November 27, 2012, the Company agreed to acquire La Casita de los Niños, LLC a California company doing business as Immersion House, and providing early language training in a full immersion program. Details of the acquisition were reported in a Current Report on Form 8-K filed with the SEC on November 29, 2012.