Friday, May 27, 2011 5:41:50 PM
FRESH START PRIVATE MANAGEMENT, INC
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2010
NOTE 1 – DESCRIPTION OF BUSINESS
Fresh Start Private Management, Inc. (“FSPM”) was originally incorporated as Cetrone Energy Company on January 28, 2008 in the State of Nevada. The principal business of the Company originally was to develop “green” renewable fuel source for agricultural operations, specifically biodiesel. . On July 26, 2010, the Company filed an amendment to its Articles of Incorporation changing its name to Fresh Start Private Management Inc. The Company signed a letter of intent with Fresh Start Private, Inc. (“FSP”) in anticipation of a merger. FSP owns certain know how and intellectual property dealing with the treatment of alcoholism and operates a medical clinic in Orange County, California. The Companies entered into a definitive agreement on November 22, 2010, with the deal to consummate upon the completion of certified audits for both entities. The merger is expected to occur in the second quarter of 2011. The Company’s year-end is December 31. The Company currently has no operations or realized revenues from its planned principle business purpose and, in accordance with FASB ASC 915 “Development Stage Entities,” is considered a Development Stage Enterprise.
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