Transition report pursuant to Rule 13a-10 or 15d-10

Shareholders' Equity

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Shareholders' Equity
4 Months Ended
Dec. 31, 2014
Shareholders' Equity  
Shareholders' Equity

Note 5 – Shareholders’ Equity

 

Preferred Stock

 

The Company’s charter authorizes the issuance of 100,000,000 shares of preferred stock, par value $0.001 per share. As of December 31, 2014 and August 31, 2014, no shares of preferred stock were issued and outstanding.

 

Common Stock

 

                On December 10, 2013, in connection with Heng Fai’s acquisition of Scoop Media, Heng Fai purchased 6,250 common shares of Scoop Media from various parties for $25,000.

 

On July 17, 2014, HFE USA, LLC converted $2,932,040 of the principal and accrued interest under the Convertible Debenture into 230,000 shares of our unregistered common stock.

 

Effective November 7, 2014, the Company amended its articles of incorporation to increase the number of authorized shares of common stock, $0.001 par value (the “common stock”), from 100,000,000 to 500,000,000 and effected a reverse stock split of the outstanding shares of its common stock at the ratio of 1-for-400 (the “Reverse Stock Split”). As of December 31, 2014 and August 31, 2014, there were 250,000 outstanding common shares. All references to shares of the Company’s common stock in this transitional report on Form 10-KT refers to the number of shares of common stock after giving effect to the Reverse Stock Split (unless otherwise indicated).

 

During the twelve months ended August 31, 2014 the Company paid total dividends to holders of its common stock of $42,620.

 

On September 19, 2014, the Company declared a dividend of $0.0852 per share 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.  The aggregate amount of the dividend was $21,300.

 

On October 18, 2014, the Company declared a dividend of $0.0852 per share 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.  The aggregate amount of the dividend was $21,300.

 

On November 21, 2014, the Company declared a dividend of $0.0852 per share 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.  The aggregate amount of the dividend was $21,300.

 

On December 18, 2014, the Company declared a dividend of $0.0852 per share payable to the holders of its common stock of record at the close of business December 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.  The aggregate amount of the dividend was $21,300.

 

During the four months ended December 31, 2014 the Company paid total dividends to holders of its common stock of $85,200.