Well, good lord preacher2 (no pun intended) I guess I just wrote that whole post about a post that I was supposed to post but didn't....Therefore....here is the post (reference material) I was referring to:
NOTE 3– INTANGIBLE ASSETS
On October 28, 2010, the Company acquired an exclusive product license, which included the right to use the
Naltrexone Implant and any procedures related to the licensed product. The Company paid a onetime license fee of
7.5% of the total common shares outstanding on the date of the agreement, or 5,672,250 common shares at the
market value of $0.70 per share as of the date of the agreement. Total value of the license is recorded as $3,970,575.
Additionally, the Company will pay $600 for each prescription request of the licensed product. The agreement will
remain in force for so long as the Company continues to use the Licensed Product.
For the purposes of the Asset Purchase Agreement, “Assets” shall mean those assets that are related to the
Trademark and the Intellectual Property that are or were used or created by Licensor in its conduct of business,
including all assets, rights, interests, and properties of Licensor of whatever nature, tangible or intangible, real or
personal, fixed or contingent, except for the Trademark and the Intellectual Property. For all assets received, the
Company paid $10.00 in cash.
NOTE 4– CAPITAL STOCK
Common Stock
The Company is authorized to issue 200,000,000 shares of common stock. All shares have equal voting rights, are
non-assessable and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more
than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
In its initial capitalization, the Company issued 2,200,000 shares of common stock for a total of $2,000 cash, and
$2,000 in services. Subsequent to the issuance of shares, a consultant was unable to complete the required services
and 100,000 shares for $1,000 in services were returned to the Company.
During the year ended December 31, 2008 the Company sold 25,775 shares of common stock pursuant to a
registered offering at $0.08 per share for total cash of $2,062.
During the year ended December 31, 2009, the Company sold 126,375 shares of common stock pursuant to a
registered offering at $0.08 per share for total cash of $10,110.
On June 7, 2010 the Board of Directors approved and on July 26, 2010, the State of Nevada approved Cetrone
Energy Company’s restated Articles of Incorporation, which increased its capitalization from 50,000,000 common
shares to 200,000,000 common shares and changing the entity name to Fresh Start Private Management, Inc.
On June 7, 2010, the President of the Company agreed to redeem 1,775,000 shares of common stock, which the
Company cancelled and did not hold in treasury.
On June 7, 2010 shareholders approved a forward split of its common stock at two hundred (200) shares for one (1)
share of the existing shares. The number of common stock shares outstanding increased from 477,150 to
95,430,000. Prior period information has been restated to reflect the stock split.
On July 31, 2010, the Company sold 200,000 shares of common stock for $100,000 cash. As of December 31, 2010,
the shares were unissued and considered subscribed.
On October 28, 2010, the Company redeemed 20,000,000 shares of stock initially issued for $2,000 in services for
$2,000 in accounts payable.
The shares to be issued for the license agreements listed in Note 3 were not issued as of December 31, 2010 and
considered subscribed. Management expects shares to be issued in the third quarter of 2011.
Again, I guess my point was to focus on the very last sentence..."Management expect shares to be issued in the third quarter of 2011."
It's a little late for 3rd quarter...but everything CEYY seems to be a little late.....At least that's my story and I'm sticking too it!!! :)
