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SHAREHOLDERS' EQUITY
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12 Months Ended |
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Aug. 31, 2014
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| SHAREHOLDERS' EQUITY | |
| SHAREHOLDERS' EQUITY |
NOTE 5 SHAREHOLDERS EQUITY
Preferred Stock The Companys charter authorizes them to issue 100,000,000 shares of preferred stock, par value $0.001 per share. As of August 31, 2014, no shares of preferred stock were issued and outstanding.
Common Stock - The Companys charter authorizes them to issue 100,000,000 shares of common stock, par value $0.001 per share. As of August 31, 2014, there were 250,000 outstanding common stock shares.
On September 30, 2013, Heng Fai purchased 13,750 shares of the Common Stock of our company representing approximately 68.7% of its issued and outstanding common stock from Yukon Industries, Inc. for $55,000 payable in cash at closing. On December 10, 2013, Heng Fai agreed to purchase an aggregate of 6,250 common shares of Scoop Media, Inc. from various parties. Heng Fai purchased these common shares for $25,000. On March 5, 2014, Heng Fai acquired an additional 30,000 shares of our common stock at $0.00641 per share. Heng Fai owns an aggregate of 94.1% of our outstanding common stock.
As discussed in Note 6, on July 17, 2014, the Company agreed to issue 230,000 shares of its unregister common stock upon conversion of $2,932,040 principal amount and interest due of the Convertible debenture held by HFE USA, LLC, a wholly owned subsidiary of Heng Fai. Heng Fai assigned the convertible debenture to HFE USA, LLC on July 17, 2014.
On July 17, 2014, the Company announced that its Board declared a one-time dividend of $0.0852 per share ($21,300 in aggregate) payable to the holders of its common stock of record as of the close of business on July 31, 2014.
On August 19, 2014, the Company declared a dividend of $0.0852 per share ($21,300 in aggregate) payable to the holders of its common stock of record at the close of business August 29, 2014. Dividends shall be paid no later than the 20th day of the following month subject to compliance with applicable provisions of the Maryland General Corporation Law.
Total dividends paid during the year ended August 31, 2014 were $42,620.
On September 19, 2014, the Company declared a dividend of $0.0852 per share ($21,300 in aggregate) payable to the holders of its common stock of record at the close of business September 29, 2014. Dividends shall be paid no later than the 20th day of the following month subject to compliance with applicable provisions of the Maryland General Corporation Law.
On October 18, 2014, the Company declared a dividend of $0.0852 per share ($21,300 in aggregate) payable to the holders of its common stock of record at the close of business October 30, 2014. Dividends shall be paid no later than the 20th day of the following month subject to compliance with applicable provisions of the Maryland General Corporation Law.
On November 21, 2014, the Company declared a dividend of $0.0852 per share ($21,300 in aggregate) payable to the holders of its common stock of record at the close of business December 2, 2014. Dividends shall be paid no later than the 20th day of the following month subject to compliance with applicable provisions of the Maryland General Corporation Law. |