Â鶹ɫÇéƬ

Note 7. Subsequent Events

On March 13, 2012 (the “recapitalization date”), Â鶹ɫÇéƬ. acquired Â鶹ɫÇéƬ University Inc., an operating company, in a reverse merger transaction accounted for as a recapitalization of Â鶹ɫÇéƬ University Inc. (the “Recapitalization” or the “Reverse Merger”). The common and preferred stockholders of Â鶹ɫÇéƬ University Inc. received 25,515,204 common shares of Â鶹ɫÇéƬ. in exchange for 100% of the capital stock of Â鶹ɫÇéƬ University Inc. For accounting purposes, Â鶹ɫÇéƬ University Inc. is the acquirer and Â鶹ɫÇéƬ Group, Inc. is the acquired company. Accordingly, after completion of the recapitalization, the historical operations of the Company are those of Â鶹ɫÇéƬ University Inc. and the operations since the recapitalization date are those of Â鶹ɫÇéƬ University Inc. and Â鶹ɫÇéƬ Group, Inc. The assets and liabilities of both companies are combined at historical cost on the recapitalization date.

On April 26, 2012 and April 30, 2012, convertible notes payable aggregating $20,000 were converted into 20,000 common shares of the Company (See Note 3).