Annual report pursuant to Section 13 and 15(d)

LETTER OF INTENT

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LETTER OF INTENT
12 Months Ended
Dec. 31, 2011
LETTER OF INTENT  
LETTER OF INTENT

NOTE 6                LETTER OF INTENT

 

In February 2010, the company signed a non-binding Letter of Intent (LOI) with a British Virgin Islands company, with respect to a possible Share Exchange Transaction.  In good faith, a trust agent received deposits of $15,000 on February 8, 2010 and $10,000 on February 26, 2010 with associated bank costs of $81.67 from the British Virgin Islands company.  On April 2, 2010 the trust agent received an additional deposit of $10,000 with associated bank costs of $28. In April 2010, the Letter of Intent expired and the deposits became non-refundable. 

 

On April 29th, 2011, the Company signed a non-binding Confidential Letter of Intent (LOI) with a private company with respect to a possible Share Exchange Transaction, pending continued discussions, negotiations and completion of due diligence.  In good faith, a trust agent received a deposit of $25,000. On May 16, 2011, the deposits became non-refundable in accordance with the specifications of the LOI.  On June 15, 2011, the Company signed Addendum 1 to the Confidential Letter of Intent (CLOI) which amended the closing date no later than July 31, 2011. On August 1, 2011, the Confidential Letter of Intent expired and the deposit became non-refundable.