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Stockholders' Equity (Deficit)
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9 Months Ended |
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Dec. 31, 2013
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| Equity [Abstract] | |
| Stockholders' Equity (Deficit) |
Note 8 – Stockholders’ Equity (Deficit)
Shares Authorized
Upon formation the total number of shares of all classes of stock which the Company is authorized to issue was One Hundred and Five Million (105,000,000) shares of which Five Million (5,000,000) shares was be Preferred Stock, par value $0.0001 per share, and One Hundred Million (100,000,000) shares was be Common Stock, par value $0.0001 per share.
Common Stock
On January 30, 2012, upon formation, the Company issued an aggregate of 10,000,000 shares of the newly formed corporation’s common stock to the sole stockholder of Koffee Korner’s Texas for all of the issued and outstanding capital of Koffee Korner’s Texas. No value was given to the common shares issued by the newly formed corporation. Therefore, the shares were recorded to reflect the $0.0001 par value and paid in capital was recorded as amount of negative $1,000.
On January 30, 2012, the Company sold 200,000 shares of common stock at par value $0.0001 per share to an individual for $20.
For the period from February 22, 2012 through February 29, 2012, the Company sold 330,000 shares of common stock at $0.10 per share to thirty three (33) individuals, or $33,000 in aggregate for cash.
Capital Contribution
On July 1, 2013, the former CEO and significant stockholder of the Company paid $10,000 of Company debt. The transaction resulted in a reduction in the above debt and a corresponding increase in additional paid-in capital. |