As a result of the merger transaction, the Company is no longer considered to be a shell company for reporting purposes.
On April 19, 2012, the Company entered into a Letter of Intent with Kool Telecom Ltd. (“Kool”). Pursuant to the Letter of Intent, the Company and Kool are to negotiate a share exchange agreement whereby the Company will acquire 100% of the shares of Kool for a certain number of shares of the Company’s common stock.
On April 5, 2012, the Company increased its authorized shares of common stock, $0.001 par value, from 300,000,000 shares to 750,000,000 shares.
300,000,000 Authorized - a/o March 31, 2012 263,779,942 Issued and Outstanding
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